abrdn plc Acquires 50,367 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

abrdn plc boosted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 21.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,797 shares of the specialty chemicals company’s stock after purchasing an additional 50,367 shares during the period. abrdn plc owned approximately 0.11% of International Flavors & Fragrances worth $23,060,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC raised its stake in shares of International Flavors & Fragrances by 195.8% during the third quarter. CWM LLC now owns 4,972 shares of the specialty chemicals company’s stock valued at $339,000 after acquiring an additional 3,291 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of International Flavors & Fragrances during the third quarter valued at about $247,000. DAVENPORT & Co LLC raised its stake in shares of International Flavors & Fragrances by 13.2% during the third quarter. DAVENPORT & Co LLC now owns 6,943 shares of the specialty chemicals company’s stock valued at $473,000 after acquiring an additional 809 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of International Flavors & Fragrances by 6.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 82,790 shares of the specialty chemicals company’s stock valued at $5,644,000 after acquiring an additional 5,224 shares during the last quarter. Finally, Oak Thistle LLC raised its stake in shares of International Flavors & Fragrances by 14.8% during the third quarter. Oak Thistle LLC now owns 4,340 shares of the specialty chemicals company’s stock valued at $296,000 after acquiring an additional 561 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on IFF shares. Morgan Stanley boosted their price target on shares of International Flavors & Fragrances from $89.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Jefferies Financial Group upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and boosted their price target for the company from $73.00 to $112.00 in a research report on Friday, January 12th. Mizuho upped their price objective on shares of International Flavors & Fragrances from $83.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Robert W. Baird upped their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company upped their price objective on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.35.

International Flavors & Fragrances Price Performance

Shares of IFF stock opened at $85.44 on Wednesday. International Flavors & Fragrances Inc. has a one year low of $62.11 and a one year high of $97.49. The company’s fifty day moving average price is $81.81 and its 200-day moving average price is $77.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.67.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.03). The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.70 billion. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. As a group, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 3.69 EPS for the current year.

International Flavors & Fragrances Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were given a dividend of $0.40 per share. The ex-dividend date was Thursday, March 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.87%. International Flavors & Fragrances’s payout ratio is -15.94%.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.