Covea Finance Boosts Stake in International Flavors & Fragrances Inc. $IFF

Covea Finance lifted its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 17.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,508 shares of the specialty chemicals company’s stock after buying an additional 35,980 shares during the period. Covea Finance’s holdings in International Flavors & Fragrances were worth $16,343,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. True Wealth Design LLC lifted its stake in International Flavors & Fragrances by 896.4% during the 3rd quarter. True Wealth Design LLC now owns 548 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 493 shares during the period. Elkhorn Partners Limited Partnership grew its stake in shares of International Flavors & Fragrances by 200.0% in the second quarter. Elkhorn Partners Limited Partnership now owns 600 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 400 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 210 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of International Flavors & Fragrances during the second quarter valued at approximately $49,000. Finally, Transamerica Financial Advisors LLC lifted its position in International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 610 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IFF has been the subject of a number of research analyst reports. Wall Street Zen raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. Bank of America raised their price target on International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Barclays upped their price objective on International Flavors & Fragrances from $78.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Mizuho increased their target price on International Flavors & Fragrances from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, Rothschild & Co Redburn boosted their price target on International Flavors & Fragrances from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Thirteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.09.

Insider Activity at International Flavors & Fragrances

In other news, Director Paul J. Fribourg bought 142,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $70.13 per share, for a total transaction of $9,958,460.00. Following the completion of the transaction, the director owned 2,422,730 shares of the company’s stock, valued at approximately $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 SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Price Performance

IFF stock opened at $66.59 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 1.42. The company’s fifty day moving average price is $74.59 and its 200-day moving average price is $68.24. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $84.45. The company has a market capitalization of $17.01 billion, a PE ratio of -48.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.05). The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.52 billion. International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share. On average, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, March 20th. International Flavors & Fragrances’s payout ratio is -116.79%.

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.