13,100 Shares in International Flavors & Fragrances Inc. $IFF Purchased by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System bought 13,100 shares of International Flavors & Fragrances in the first quarter, worth about $950,000.
• The company’s latest earnings beat expectations, with EPS of $1.25 versus the $1.08 estimate and revenue of $2.74 billion topping forecasts, though revenue still fell 3.6% year over year.
• IFF also declared a quarterly dividend of $0.40 per share, while analysts remain generally positive with a Moderate Buy rating and an average price target of $91.16.

Louisiana State Employees Retirement System purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,100 shares of the specialty chemicals company's stock, valued at approximately $950,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dodge & Cox increased its position in shares of International Flavors & Fragrances by 5.5% in the third quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company's stock worth $2,275,296,000 after purchasing an additional 1,925,251 shares during the last quarter. State Street Corp grew its stake in International Flavors & Fragrances by 1.1% in the 4th quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company's stock worth $751,875,000 after buying an additional 121,260 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of International Flavors & Fragrances by 27.5% in the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company's stock worth $595,166,000 after buying an additional 1,904,598 shares during the last quarter. Invesco Ltd. raised its position in shares of International Flavors & Fragrances by 4.9% during the 4th quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company's stock valued at $506,760,000 after buying an additional 352,636 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of International Flavors & Fragrances by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company's stock worth $454,607,000 after acquiring an additional 172,781 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Price Performance

IFF opened at $83.62 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. The firm has a market capitalization of $21.35 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The business's 50-day moving average is $75.72 and its two-hundred day moving average is $73.53. International Flavors & Fragrances Inc. has a 1 year low of $59.14 and a 1 year high of $84.45.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. International Flavors & Fragrances's revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. Research analysts anticipate that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, June 18th. International Flavors & Fragrances's payout ratio is currently 48.93%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IFF shares. Oppenheimer raised their target price on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Argus boosted their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Citigroup cut their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. BNP Paribas Exane boosted their price target on International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Finally, Jefferies Financial Group lifted their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and an average price target of $91.16.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg bought 260,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were acquired at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the transaction, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.07% of the stock is owned by company insiders.

International Flavors & Fragrances Company 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.

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