Clearfield Capital Management LP Takes $28.77 Million Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Clearfield Capital Management LP purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 355,326 shares of the specialty chemicals company's stock, valued at approximately $28,771,000. International Flavors & Fragrances comprises 25.1% of Clearfield Capital Management LP's investment portfolio, making the stock its biggest holding. Clearfield Capital Management LP owned about 0.14% of International Flavors & Fragrances as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in shares of International Flavors & Fragrances by 3.9% in the fourth quarter. Parallel Advisors LLC now owns 3,679 shares of the specialty chemicals company's stock valued at $298,000 after buying an additional 138 shares during the period. Alliance Wealth Advisors LLC UT lifted its stake in shares of International Flavors & Fragrances by 3.2% in the third quarter. Alliance Wealth Advisors LLC UT now owns 4,840 shares of the specialty chemicals company's stock valued at $330,000 after buying an additional 148 shares during the period. Federated Hermes Inc. lifted its stake in shares of International Flavors & Fragrances by 9.7% in the third quarter. Federated Hermes Inc. now owns 1,712 shares of the specialty chemicals company's stock valued at $117,000 after buying an additional 152 shares during the period. IFG Advisory LLC lifted its stake in shares of International Flavors & Fragrances by 4.0% in the fourth quarter. IFG Advisory LLC now owns 4,000 shares of the specialty chemicals company's stock valued at $324,000 after buying an additional 155 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of International Flavors & Fragrances by 21.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 901 shares of the specialty chemicals company's stock valued at $73,000 after buying an additional 157 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on IFF. Mizuho increased their target price on shares of International Flavors & Fragrances from $91.00 to $98.00 and gave the company a "neutral" rating in a research note on Tuesday, May 7th. Morgan Stanley restated an "equal weight" rating and set a $100.00 price target on shares of International Flavors & Fragrances in a research note on Tuesday, May 21st. Wolfe Research began coverage on shares of International Flavors & Fragrances in a research note on Friday, March 1st. They set an "underperform" rating for the company. Robert W. Baird raised their price target on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus raised their price target on shares of International Flavors & Fragrances from $87.00 to $95.00 and gave the stock a "hold" rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $95.61.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock traded down $0.38 during midday trading on Wednesday, reaching $96.78. The company had a trading volume of 1,163,751 shares, compared to its average volume of 1,999,634. The stock has a fifty day simple moving average of $91.05 and a 200 day simple moving average of $83.86. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. International Flavors & Fragrances Inc. has a 1-year low of $62.11 and a 1-year high of $99.91. The company has a market capitalization of $24.71 billion, a price-to-earnings ratio of -10.00, a price-to-earnings-growth ratio of 1.96 and a beta of 1.26.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.27. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business earned $0.87 EPS. The business's quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 3.86 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. International Flavors & Fragrances's dividend payout ratio is -16.38%.

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.

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