International Flavors & Fragrances Inc. (NYSE:IFF) Position Lifted by Cibc World Markets Corp

Cibc World Markets Corp raised its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 299.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,522 shares of the specialty chemicals company’s stock after acquiring an additional 103,810 shares during the quarter. Cibc World Markets Corp owned approximately 0.05% of International Flavors & Fragrances worth $11,712,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of International Flavors & Fragrances by 37.6% during the third quarter. Victory Capital Management Inc. now owns 113,019 shares of the specialty chemicals company’s stock worth $11,859,000 after purchasing an additional 30,910 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of International Flavors & Fragrances by 1.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,760 shares of the specialty chemicals company’s stock worth $1,129,000 after acquiring an additional 175 shares during the period. KBC Group NV increased its stake in International Flavors & Fragrances by 4.0% during the 3rd quarter. KBC Group NV now owns 21,484 shares of the specialty chemicals company’s stock valued at $2,254,000 after buying an additional 834 shares during the period. CIBC Asset Management Inc increased its stake in International Flavors & Fragrances by 8.3% during the 3rd quarter. CIBC Asset Management Inc now owns 37,233 shares of the specialty chemicals company’s stock valued at $3,907,000 after buying an additional 2,855 shares during the period. Finally, Empowered Funds LLC increased its stake in International Flavors & Fragrances by 6.5% during the 3rd quarter. Empowered Funds LLC now owns 4,130 shares of the specialty chemicals company’s stock valued at $433,000 after buying an additional 251 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Kevin O’byrne acquired 6,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $80.44 per share, with a total value of $522,860.00. Following the acquisition, the director now owns 6,500 shares in the company, valued at $522,860. This represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of International Flavors & Fragrances from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. reduced their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Barclays reduced their price objective on shares of International Flavors & Fragrances from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Argus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Finally, Oppenheimer dropped their target price on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.50.

International Flavors & Fragrances Price Performance

NYSE IFF opened at $82.07 on Tuesday. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 87.31, a PEG ratio of 1.45 and a beta of 1.21. International Flavors & Fragrances Inc. has a 52-week low of $78.91 and a 52-week high of $106.77. The business has a 50 day simple moving average of $83.41 and a 200 day simple moving average of $91.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.14. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. Analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, March 21st. International Flavors & Fragrances’s payout ratio is presently 170.21%.

International Flavors & Fragrances Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.