5 Best Beauty Stocks To Buy Now

4. International Flavors & Fragrances Inc (NYSE:IFF)

Number of Hedge Fund Holders: 33

International Flavors & Fragrances Inc (NYSE:IFF) develops fragrance ingredients, natural health ingredients and other products that are used by manufacturers of perfumes, cosmetics, hair and personal care products, as well as processed foods, beverages and pharmaceutical items. It has manufacturing plants in 47 countries around the globe, and is based in New York City.

33 out of the 900+ hedge funds tracked by Insider Monkey were long International Flavors & Fragrances Inc (NYSE:IFF) at the end of March, as compared to 40 hedge funds a quarter earlier. With a stake worth almost $845 million, Sachem Head Capital was the largest shareholder of the company at the close of the first quarter of 2022.

On May 11, Wells Fargo analyst Michael Sison raised the firm’s price target on International Flavors & Fragrances Inc (NYSE:IFF) to $150 from $145 and maintained an ‘Overweight’ rating on the company shares. He noted that the company performed above expectations through a challenging inflationary environment, with robust demand and pricing actions leading to sales growth in the first quarter and potentially the rest of the year.

International Flavors & Fragrances Inc’s (NYSE:IFF) revenue for the first quarter was reported at $3.23 billion, which was an increase of 30.87% in comparison to the year-ago quarter and also beat estimates by $136.6 million. It posted earnings per share for Q1 2022 which were above Street estimates by $0.33.