Commonwealth Equity Services LLC Boosts Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Posted by Defense World Staff on May 21st, 2023

Commonwealth Equity Services LLC raised its holdings in International Flavors & Fragrances Inc. (NYSE:IFF – Get Rating) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,271 shares of the specialty chemicals company’s stock after buying an additional 1,110 shares during the quarter. Commonwealth Equity Services LLC’s holdings in International Flavors & Fragrances were worth $1,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of IFF. First Pacific Advisors LP lifted its stake in shares of International Flavors & Fragrances by 58.9% in the 3rd quarter. First Pacific Advisors LP now owns 2,497,364 shares of the specialty chemicals company’s stock valued at $226,836,000 after purchasing an additional 925,805 shares in the last quarter. Sarasin & Partners LLP lifted its stake in shares of International Flavors & Fragrances by 38.2% in the 4th quarter. Sarasin & Partners LLP now owns 3,061,197 shares of the specialty chemicals company’s stock valued at $320,936,000 after purchasing an additional 846,158 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of International Flavors & Fragrances by 213.2% in the 3rd quarter. Nomura Holdings Inc. now owns 1,184,676 shares of the specialty chemicals company’s stock valued at $107,551,000 after purchasing an additional 806,452 shares in the last quarter. Icahn Carl C acquired a new position in shares of International Flavors & Fragrances in the 1st quarter valued at about $84,643,000. Finally, Renaissance Technologies LLC lifted its position in International Flavors & Fragrances by 410.8% during the 3rd quarter. Renaissance Technologies LLC now owns 745,700 shares of the specialty chemicals company’s stock worth $67,732,000 after acquiring an additional 599,700 shares in the last quarter. 88.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider De Villeplee Christoph Fauchon sold 1,972 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $86.35, for a total value of $170,282.20. Following the completion of the transaction, the insider now owns 9,093 shares of the company’s stock, valued at $785,180.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on IFF shares. Wells Fargo & Company reduced their price target on International Flavors & Fragrances from $123.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, February 10th. Morgan Stanley reduced their price target on International Flavors & Fragrances from $136.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Credit Suisse Group reduced their price target on International Flavors & Fragrances from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 9th. Robert W. Baird cut their target price on International Flavors & Fragrances from $120.00 to $106.00 and set an “outperform” rating on the stock in a research report on Friday, February 10th. Finally, Bank of America raised International Flavors & Fragrances from an “underperform” rating to a “neutral” rating and cut their target price for the company from $121.00 to $106.00 in a research report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, International Flavors & Fragrances has an average rating of “Hold” and an average price target of $114.13.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF opened at $83.68 on Friday. International Flavors & Fragrances Inc. has a twelve month low of $81.02 and a twelve month high of $135.17. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of -10.18, a price-to-earnings-growth ratio of 4.67 and a beta of 1.08. The business has a 50 day simple moving average of $90.10 and a 200-day simple moving average of $98.39.

International Flavors & Fragrances (NYSE:IFF – Get Rating) last issued its quarterly earnings data on Monday, May 8th. The specialty chemicals company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. International Flavors & Fragrances had a positive return on equity of 6.64% and a negative net margin of 17.12%. International Flavors & Fragrances’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.69 earnings per share. As a group, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.72 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Friday, June 23rd will be paid a dividend of $0.81 per share. The ex-dividend date is Thursday, June 22nd. This represents a $3.24 dividend on an annualized basis and a yield of 3.87%. International Flavors & Fragrances’s payout ratio is currently -39.42%.

International Flavors & Fragrances Company Profile

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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.