International Flavors & Fragrances Inc. $IFF Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 26.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,202 shares of the specialty chemicals company’s stock after purchasing an additional 8,288 shares during the period. PNC Financial Services Group Inc.’s holdings in International Flavors & Fragrances were worth $2,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IFF. Lloyd Advisory Services LLC. acquired a new stake in International Flavors & Fragrances in the 4th quarter valued at about $27,000. Root Financial Partners LLC grew its position in shares of International Flavors & Fragrances by 97.9% during the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 274 shares in the last quarter. Geneos Wealth Management Inc. grew its position 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 worth $46,000 after buying an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC increased its stake in shares of 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 worth $50,000 after buying an additional 610 shares during the period. Finally, Cromwell Holdings LLC raised its holdings in International Flavors & Fragrances by 69.6% in the fourth quarter. Cromwell Holdings LLC now owns 894 shares of the specialty chemicals company’s stock valued at $61,000 after acquiring an additional 367 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Weiss Ratings upgraded shares of International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Rothschild & Co Redburn lowered their target price on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Finally, Jefferies Financial Group increased their target price on International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.16.

International Flavors & Fragrances Stock Up 3.6%

IFF stock opened at $79.14 on Wednesday. The stock has a market cap of $20.20 billion, a P/E ratio of 24.20, a PEG ratio of 1.91 and a beta of 0.93. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $84.45. The company’s 50 day moving average is $76.75 and its two-hundred day moving average is $74.81.

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

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is currently 48.93%.

Insider Activity

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

International Flavors & Fragrances 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.