CIBC Private Wealth Group LLC Increases Position in International Flavors & Fragrances Inc (NYSE:IFF)

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CIBC Private Wealth Group LLC increased its stake in International Flavors & Fragrances Inc (NYSE:IFF) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,745 shares of the specialty chemicals company’s stock after purchasing an additional 1,529 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in International Flavors & Fragrances were worth $2,790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC purchased a new position in International Flavors & Fragrances during the 3rd quarter valued at about $25,000. Advisory Services Network LLC increased its holdings in International Flavors & Fragrances by 119.0% during the 2nd quarter. Advisory Services Network LLC now owns 230 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new position in International Flavors & Fragrances during the 2nd quarter valued at about $33,000. CSat Investment Advisory L.P. increased its holdings in International Flavors & Fragrances by 80.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 326 shares of the specialty chemicals company’s stock valued at $47,000 after acquiring an additional 145 shares in the last quarter. Finally, Private Ocean LLC purchased a new position in International Flavors & Fragrances during the 2nd quarter valued at about $76,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

IFF has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $127.00 to $125.00 in a report on Wednesday, August 7th. Societe Generale initiated coverage on shares of International Flavors & Fragrances in a report on Monday, September 9th. They set a “buy” rating and a $140.00 target price for the company. KeyCorp dropped their target price on shares of International Flavors & Fragrances from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Citigroup dropped their target price on shares of International Flavors & Fragrances from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Berenberg Bank downgraded shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and dropped their target price for the company from $155.00 to $133.00 in a report on Thursday, August 8th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $138.09.

In other news, insider Nicolas Mirzayantz sold 928 shares of International Flavors & Fragrances stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $126.26, for a total transaction of $117,169.28. Following the completion of the sale, the insider now directly owns 34,465 shares in the company, valued at $4,351,550.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 2,786 shares of company stock valued at $330,449. Insiders own 0.39% of the company’s stock.

Shares of NYSE IFF opened at $117.84 on Monday. The company has a market cap of $12.75 billion, a PE ratio of 18.76 and a beta of 0.84. International Flavors & Fragrances Inc has a 12 month low of $104.86 and a 12 month high of $152.95. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.60 and a quick ratio of 1.59. The company has a 50-day simple moving average of $118.69 and a 200-day simple moving average of $131.83.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.61 EPS for the quarter, hitting analysts’ consensus estimates of $1.61. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. International Flavors & Fragrances had a net margin of 7.51% and a return on equity of 10.48%. The company’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 earnings per share. On average, analysts anticipate that International Flavors & Fragrances Inc will post 6.19 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.75 per share. The ex-dividend date was Friday, September 20th. This is an increase from International Flavors & Fragrances’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.55%. International Flavors & Fragrances’s payout ratio is 47.77%.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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