Hancock Whitney Corp Acquires Shares of 2,403 International Flavors & Fragrances Inc (IFF)

Hancock Whitney Corp purchased a new position in shares of International Flavors & Fragrances Inc (NYSE:IFF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,403 shares of the specialty chemicals company’s stock, valued at approximately $323,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Boston Family Office LLC grew its position in shares of International Flavors & Fragrances by 0.4% during the fourth quarter. Boston Family Office LLC now owns 19,593 shares of the specialty chemicals company’s stock worth $2,631,000 after buying an additional 69 shares in the last quarter. JOYN Advisors Inc. grew its position in shares of International Flavors & Fragrances by 65.5% during the fourth quarter. JOYN Advisors Inc. now owns 187 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 74 shares in the last quarter. IBM Retirement Fund grew its position in shares of International Flavors & Fragrances by 6.8% during the fourth quarter. IBM Retirement Fund now owns 1,545 shares of the specialty chemicals company’s stock worth $207,000 after buying an additional 98 shares in the last quarter. First Manhattan Co. grew its position in shares of International Flavors & Fragrances by 14.3% during the fourth quarter. First Manhattan Co. now owns 800 shares of the specialty chemicals company’s stock worth $107,000 after buying an additional 100 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of International Flavors & Fragrances by 1.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,568 shares of the specialty chemicals company’s stock worth $1,016,000 after buying an additional 103 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

In other news, major shareholder Winder Investment Pte Ltd purchased 92,900 shares of International Flavors & Fragrances stock in a transaction dated Wednesday, January 2nd. The stock was bought at an average price of $134.17 per share, with a total value of $12,464,393.00. Following the completion of the acquisition, the insider now owns 19,593,263 shares in the company, valued at approximately $2,628,828,096.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have bought 402,710 shares of company stock valued at $53,427,822. Corporate insiders own 0.39% of the company’s stock.

A number of research firms have commented on IFF. Goldman Sachs Group raised shares of International Flavors & Fragrances from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $137.00 to $151.00 in a report on Thursday, March 21st. Zacks Investment Research raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Monday, February 25th. KeyCorp decreased their price objective on shares of International Flavors & Fragrances from $160.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, February 25th. Seaport Global Securities began coverage on shares of International Flavors & Fragrances in a report on Thursday, February 21st. They issued a “neutral” rating for the company. Finally, Citigroup decreased their price objective on shares of International Flavors & Fragrances from $146.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, February 21st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. International Flavors & Fragrances has a consensus rating of “Hold” and a consensus target price of $144.33.

International Flavors & Fragrances stock opened at $130.81 on Tuesday. International Flavors & Fragrances Inc has a 12 month low of $121.85 and a 12 month high of $150.57. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.26 and a beta of 0.75. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.61 and a quick ratio of 1.65.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Wednesday, February 13th. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). International Flavors & Fragrances had a net margin of 8.48% and a return on equity of 15.56%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the firm posted $1.40 EPS. The business’s revenue was up 42.6% compared to the same quarter last year. On average, analysts anticipate that International Flavors & Fragrances Inc will post 6.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Monday, March 25th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, March 22nd. International Flavors & Fragrances’s dividend payout ratio (DPR) is 46.50%.

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About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through two segments, Flavors and Fragrances. The Flavors segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

Further Reading: Cost of Capital Explained

Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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