Mirae Asset Global Investments Co. Ltd. Acquires 7,708 Shares of International Flavors & Fragrances Inc. $IFF

Mirae Asset Global Investments Co. Ltd. boosted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,117 shares of the specialty chemicals company’s stock after purchasing an additional 7,708 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in International Flavors & Fragrances were worth $2,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of International Flavors & Fragrances by 28.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,098,575 shares of the specialty chemicals company’s stock worth $67,612,000 after buying an additional 245,719 shares during the last quarter. Tran Capital Management L.P. acquired a new stake in shares of International Flavors & Fragrances during the 4th quarter worth about $21,924,000. Ruffer LLP acquired a new stake in International Flavors & Fragrances in the 3rd quarter worth about $13,552,000. Icahn Carl C raised its stake in International Flavors & Fragrances by 26.7% in the 3rd quarter. Icahn Carl C now owns 4,750,000 shares of the specialty chemicals company’s stock worth $292,315,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Dodge & Cox raised its stake in International Flavors & Fragrances by 5.5% in the 3rd quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company’s stock worth $2,275,296,000 after purchasing an additional 1,925,251 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Ratings Changes

IFF has been the subject of several analyst reports. Rothschild & Co Redburn lifted their price objective on shares of International Flavors & Fragrances from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Wells Fargo & Company lifted their price objective on shares of International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Oppenheimer dropped their price objective on shares of International Flavors & Fragrances from $97.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday. Argus lifted their price objective on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of International Flavors & Fragrances from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $71.13 on Thursday. The firm has a 50 day moving average of $74.43 and a 200-day moving average of $69.60. The stock has a market capitalization of $18.17 billion, a PE ratio of -51.92, a PEG ratio of 1.90 and a beta of 1.02. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.05). The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.52 billion. International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. International Flavors & Fragrances’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. On average, equities research analysts predict that International Flavors & Fragrances Inc. will post 4.42 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were given a $0.40 dividend. The ex-dividend date was Friday, March 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. International Flavors & Fragrances’s payout ratio is presently -116.79%.

Insider Activity at International Flavors & Fragrances

In other news, Director Paul J. Fribourg bought 142,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $70.13 per share, for a total transaction of $9,958,460.00. Following the transaction, the director owned 2,422,730 shares of the company’s stock, valued at $169,906,054.90. This represents a 6.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.07% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.