International Flavors & Fragrances Inc. (NYSE:IFF) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 8.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,233 shares of the specialty chemicals company’s stock after purchasing an additional 2,855 shares during the period. CIBC Asset Management Inc’s holdings in International Flavors & Fragrances were worth $3,907,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IFF. Pictet North America Advisors SA raised its holdings in shares of International Flavors & Fragrances by 3.1% during the third quarter. Pictet North America Advisors SA now owns 3,275 shares of the specialty chemicals company’s stock valued at $344,000 after buying an additional 99 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in International Flavors & Fragrances by 1.9% during the third quarter. Integrated Advisors Network LLC now owns 5,720 shares of the specialty chemicals company’s stock worth $600,000 after purchasing an additional 107 shares in the last quarter. CWM LLC lifted its position in International Flavors & Fragrances by 1.7% in the third quarter. CWM LLC now owns 6,540 shares of the specialty chemicals company’s stock worth $686,000 after purchasing an additional 109 shares during the period. Summit Trail Advisors LLC boosted its stake in International Flavors & Fragrances by 5.0% during the 2nd quarter. Summit Trail Advisors LLC now owns 2,471 shares of the specialty chemicals company’s stock valued at $236,000 after purchasing an additional 117 shares in the last quarter. Finally, Orca Investment Management LLC increased its position in shares of International Flavors & Fragrances by 0.6% during the 3rd quarter. Orca Investment Management LLC now owns 21,266 shares of the specialty chemicals company’s stock valued at $2,231,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Up 0.5 %

NYSE:IFF opened at $86.61 on Tuesday. The stock has a market cap of $22.14 billion, a PE ratio of -9.53, a price-to-earnings-growth ratio of 1.52 and a beta of 1.22. International Flavors & Fragrances Inc. has a fifty-two week low of $72.89 and a fifty-two week high of $106.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 1.93. The stock’s 50-day moving average is $100.42 and its two-hundred day moving average is $98.43.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46). The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 EPS. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.17 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Friday, December 20th. International Flavors & Fragrances’s dividend payout ratio is -17.60%.

Insiders Place Their Bets

In other news, insider Yuvraj Arora sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $91.75, for a total value of $458,750.00. Following the completion of the sale, the insider now directly owns 3,238 shares in the company, valued at approximately $297,086.50. The trade was a 60.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IFF shares. JPMorgan Chase & Co. decreased their target price on International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Morgan Stanley raised shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $111.00 to $110.00 in a research note on Tuesday, November 12th. UBS Group increased their target price on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research report on Thursday, November 7th. Finally, Oppenheimer raised their price objective on International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $109.27.

About International Flavors & Fragrances

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.