Proficio Capital Partners LLC Invests $8.10 Million in International Flavors & Fragrances Inc. (NYSE:IFF)

Proficio Capital Partners LLC bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 95,795 shares of the specialty chemicals company's stock, valued at approximately $8,099,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IFF. UMB Bank n.a. boosted its stake in shares of International Flavors & Fragrances by 8.9% in the fourth quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company's stock worth $123,000 after buying an additional 119 shares during the last quarter. Huntington National Bank boosted its position in International Flavors & Fragrances by 3.1% in the 3rd quarter. Huntington National Bank now owns 4,095 shares of the specialty chemicals company's stock worth $430,000 after purchasing an additional 124 shares in the last quarter. Arete Wealth Advisors LLC grew its stake in shares of International Flavors & Fragrances by 4.2% during the 3rd quarter. Arete Wealth Advisors LLC now owns 3,061 shares of the specialty chemicals company's stock worth $321,000 after purchasing an additional 124 shares during the period. Truist Financial Corp increased its holdings in shares of International Flavors & Fragrances by 0.7% during the 4th quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company's stock valued at $1,683,000 after purchasing an additional 129 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of International Flavors & Fragrances by 36.6% in the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock valued at $54,000 after purchasing an additional 171 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at International Flavors & Fragrances

In related news, Director Kevin O'byrne acquired 6,500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $80.44 per share, for a total transaction of $522,860.00. Following the acquisition, the director now owns 6,500 shares in the company, valued at $522,860. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

International Flavors & Fragrances Price Performance

NYSE IFF traded down $0.19 during trading hours on Wednesday, hitting $80.62. 682,512 shares of the company's stock traded hands, compared to its average volume of 1,461,129. The company has a market capitalization of $20.62 billion, a PE ratio of 85.77, a PEG ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. International Flavors & Fragrances Inc. has a 52-week low of $78.91 and a 52-week high of $106.77. The firm's 50-day moving average is $83.38 and its 200-day moving average is $91.21.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.14. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.67 billion. Equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.60 annualized dividend and a yield of 1.98%. International Flavors & Fragrances's payout ratio is 170.21%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IFF. Bank of America cut their price objective on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Wells Fargo & Company reduced their price target on International Flavors & Fragrances from $115.00 to $105.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Oppenheimer reduced their target price on International Flavors & Fragrances from $114.00 to $104.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Cfra lowered shares of International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price target for the company. in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and a consensus price target of $103.50.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division.