Schechter Investment Advisors LLC Raises Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Posted by Defense World Staff on Jul 20th, 2023

Schechter Investment Advisors LLC raised its stake in International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 29.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,363 shares of the specialty chemicals company’s stock after acquiring an additional 999 shares during the quarter. Schechter Investment Advisors LLC’s holdings in International Flavors & Fragrances were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Biltmore Family Office LLC acquired a new stake in International Flavors & Fragrances during the fourth quarter valued at $327,000. Westpac Banking Corp grew its position in shares of International Flavors & Fragrances by 6.2% during the 4th quarter. Westpac Banking Corp now owns 65,381 shares of the specialty chemicals company’s stock valued at $6,855,000 after acquiring an additional 3,841 shares during the period. Prudential PLC raised its holdings in International Flavors & Fragrances by 179.9% in the 4th quarter. Prudential PLC now owns 14,047 shares of the specialty chemicals company’s stock worth $1,473,000 after purchasing an additional 9,029 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in International Flavors & Fragrances by 5.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,470 shares of the specialty chemicals company’s stock worth $573,000 after purchasing an additional 279 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in International Flavors & Fragrances by 4.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 146,047 shares of the specialty chemicals company’s stock valued at $15,312,000 after purchasing an additional 5,961 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Insider Buying and Selling at International Flavors & Fragrances

In other news, insider De Villeplee Christoph Fauchon sold 1,972 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $86.35, for a total value of $170,282.20. Following the transaction, the insider now directly owns 9,093 shares in the company, valued at approximately $785,180.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $84.07 on Thursday. The company’s 50-day moving average is $79.92 and its two-hundred day moving average is $91.72. The firm has a market capitalization of $21.45 billion, a price-to-earnings ratio of -10.23, a PEG ratio of 4.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.53 and a quick ratio of 0.92. International Flavors & Fragrances Inc. has a 1-year low of $75.18 and a 1-year high of $129.20.

International Flavors & Fragrances (NYSE:IFF – Get Free Report) last released its quarterly earnings results on Monday, May 8th. The specialty chemicals company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.02). International Flavors & Fragrances had a negative net margin of 17.12% and a positive return on equity of 6.64%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm posted $1.69 EPS. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts forecast that International Flavors & Fragrances Inc. will post 4.64 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, June 22nd. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -39.42%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IFF. Barclays dropped their price target on shares of International Flavors & Fragrances from $81.00 to $75.00 in a research note on Thursday, May 11th. UBS Group cut their target price on shares of International Flavors & Fragrances from $128.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, July 14th. Wells Fargo & Company decreased their price target on shares of International Flavors & Fragrances from $110.00 to $93.00 and set an “overweight” rating on the stock in a research note on Tuesday. StockNews.com initiated coverage on International Flavors & Fragrances in a research report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Citigroup assumed coverage on International Flavors & Fragrances in a research note on Tuesday, June 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, International Flavors & Fragrances has an average rating of “Hold” and an average target price of $109.93.

About International Flavors & Fragrances

(Free Report)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.