Bull Harbor Capital LLC Acquires New Position in International Flavors & Fragrances Inc. $IFF

Bull Harbor Capital LLC bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,610 shares of the specialty chemicals company’s stock, valued at approximately $552,000.

Other hedge funds have also modified their holdings of the company. Lloyd Advisory Services LLC. bought a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at $27,000. Root Financial Partners LLC boosted its holdings 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 worth $40,000 after buying an additional 274 shares during the period. Geneos Wealth Management Inc. increased its stake 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 worth $46,000 after buying an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in 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 valued at $50,000 after acquiring an additional 610 shares during the period. Finally, Cromwell Holdings LLC lifted its position in shares of 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IFF shares. Deutsche Bank Aktiengesellschaft cut their target price on 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. JPMorgan Chase & Co. increased their price objective on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Morgan Stanley lifted their price objective on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Oppenheimer upped their target price on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Rothschild & Co Redburn reduced their price target on shares of International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, International Flavors & Fragrances has an average rating of “Moderate Buy” and an average price target of $91.16.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg purchased 260,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was bought 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 in the company, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Stock Down 0.2%

Shares of IFF opened at $79.44 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. The stock has a market capitalization of $20.28 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.99 and a beta of 0.93. International Flavors & Fragrances Inc. has a 1 year low of $59.14 and a 1 year high of $84.45. The business’s 50 day simple moving average is $76.94 and its 200-day simple moving average is $74.96.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly 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. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. International Flavors & Fragrances’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that International Flavors & Fragrances Inc. will post 4.55 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 Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is currently 48.93%.

About International Flavors & Fragrances

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.