International Flavors & Fragrances Inc. $IFF Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 19.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,714,075 shares of the specialty chemicals company’s stock after selling 414,804 shares during the quarter. Nordea Investment Management AB owned approximately 0.67% of International Flavors & Fragrances worth $115,889,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox increased its position in shares of International Flavors & Fragrances by 5.5% in the 3rd quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company’s stock valued at $2,275,296,000 after purchasing an additional 1,925,251 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of International Flavors & Fragrances by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 31,133,186 shares of the specialty chemicals company’s stock worth $1,915,936,000 after purchasing an additional 252,983 shares during the last quarter. State Street Corp grew its stake in shares of International Flavors & Fragrances by 0.8% during the third quarter. State Street Corp now owns 10,971,108 shares of the specialty chemicals company’s stock worth $679,460,000 after purchasing an additional 86,134 shares in the last quarter. Invesco Ltd. increased its holdings in International Flavors & Fragrances by 131.3% in the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock valued at $441,068,000 after buying an additional 4,069,075 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in International Flavors & Fragrances by 27.3% in the third quarter. First Eagle Investment Management LLC now owns 6,927,070 shares of the specialty chemicals company’s stock valued at $426,292,000 after buying an additional 1,485,976 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 2.3%

IFF opened at $66.59 on Monday. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $84.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 1.42. The stock has a market capitalization of $17.01 billion, a P/E ratio of -48.61, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. The business’s 50-day simple moving average is $74.59 and its 200-day simple moving average is $68.27.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.52 billion. International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. Analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. International Flavors & Fragrances’s dividend payout ratio (DPR) is -116.79%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IFF. Berenberg Bank lowered their price objective on International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating for the company in a research report on Thursday, February 5th. Citigroup raised their target price on International Flavors & Fragrances from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Wall Street Zen upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Sunday, January 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of International Flavors & Fragrances in a report on Monday, December 29th. Finally, Wells Fargo & Company raised their price objective on shares of International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.09.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 142,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $70.13 per share, with a total value of $9,958,460.00. Following the acquisition, the director directly owned 2,422,730 shares of the company’s stock, valued at $169,906,054.90. The trade was a 6.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by insiders.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.