International Flavors & Fragrances Inc. $IFF Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp boosted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 1,213.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 98,395 shares of the specialty chemicals company’s stock after buying an additional 90,902 shares during the period. Fifth Third Bancorp’s holdings in International Flavors & Fragrances were worth $7,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IFF. Lloyd Advisory Services LLC. acquired a new stake in shares of International Flavors & Fragrances in the fourth quarter worth approximately $27,000. Root Financial Partners LLC raised its stake in International Flavors & Fragrances by 97.9% in the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 274 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in International Flavors & Fragrances by 55.7% in the 1st 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 in the last quarter. Transamerica Financial Advisors LLC lifted its holdings in International Flavors & Fragrances by 884.1% in the 2nd 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in International Flavors & Fragrances by 42.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IFF. Jefferies Financial Group increased their target price on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Barclays boosted their price target on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Benchmark started coverage on shares of International Flavors & Fragrances in a report on Tuesday, June 9th. They issued a “buy” rating and a $100.00 price objective for the company. Argus raised their target price on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.16.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg acquired 260,000 shares of the stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the purchase, the director owned 2,682,730 shares in the company, valued at $199,273,184.40. This trade represents a 10.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $77.62 on Friday. The stock’s fifty day moving average is $76.68 and its two-hundred day moving average is $74.30. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $19.82 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.75 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. International Flavors & Fragrances’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. Equities analysts expect that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, June 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $1.60 annualized dividend and a yield of 2.1%. International Flavors & Fragrances’s dividend payout ratio is presently 48.93%.

International Flavors & Fragrances Company Profile

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.