International Flavors & Fragrances Inc. $IFF Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in International Flavors & Fragrances Inc. by 19.2%, now owning approximately 233,300 shares valued at $18,106,000.
• Institutional investors hold a significant portion, with 96.02% of the stock owned by hedge funds and other institutional investors.
• International Flavors & Fragrances recently declared a quarterly dividend of $0.40 per share, representing a dividend yield of 2.4%.

Adage Capital Partners GP L.L.C. cut its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 233,300 shares of the specialty chemicals company's stock after selling 55,600 shares during the period. Adage Capital Partners GP L.L.C. owned 0.09% of International Flavors & Fragrances worth $18,106,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of International Flavors & Fragrances by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,577,723 shares of the specialty chemicals company's stock valued at $122,447,000 after acquiring an additional 32,005 shares during the period. Allspring Global Investments Holdings LLC boosted its position in International Flavors & Fragrances by 11.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock valued at $6,525,000 after purchasing an additional 8,490 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in International Flavors & Fragrances in the first quarter valued at about $1,271,000. Dodge & Cox raised its holdings in International Flavors & Fragrances by 7.4% in the first quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company's stock worth $2,621,247,000 after purchasing an additional 2,336,844 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of International Flavors & Fragrances by 23.6% during the fourth quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock valued at $30,529,000 after buying an additional 68,970 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Stock Performance

NYSE:IFF traded up $1.86 during midday trading on Thursday, hitting $66.34. The company's stock had a trading volume of 2,419,177 shares, compared to its average volume of 1,699,070. International Flavors & Fragrances Inc. has a fifty-two week low of $62.33 and a fifty-two week high of $106.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.12. The firm has a market cap of $17.00 billion, a P/E ratio of -42.80, a P/E/G ratio of 2.79 and a beta of 1.07. The firm's 50 day moving average is $69.93 and its 200-day moving average is $74.25.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.11 by $0.04. The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.69 billion. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The business's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -103.23%.

Insider Transactions at International Flavors & Fragrances

In related news, Director Paul J. Fribourg acquired 15,450 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was acquired at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the acquisition, the director directly owned 15,450 shares in the company, valued at $1,001,160. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J Erik Fyrwald bought 15,300 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $64.95 per share, for a total transaction of $993,735.00. Following the completion of the acquisition, the chief executive officer owned 77,370 shares of the company's stock, valued at $5,025,181.50. This trade represents a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group reduced their price objective on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company cut their price target on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Tigress Financial reiterated a "buy" rating and set a $105.00 price objective on shares of International Flavors & Fragrances in a report on Tuesday, August 26th. Oppenheimer downgraded International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Finally, Barclays decreased their price target on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $92.36.

International Flavors & Fragrances Company Profile

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.