Allspring Global Investments Holdings LLC lifted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 11.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,265 shares of the specialty chemicals company's stock after buying an additional 8,490 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in International Flavors & Fragrances were worth $6,525,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in IFF. Smartleaf Asset Management LLC raised its holdings in International Flavors & Fragrances by 42.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,392 shares of the specialty chemicals company's stock worth $117,000 after purchasing an additional 413 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in International Flavors & Fragrances by 30.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,437 shares of the specialty chemicals company's stock worth $291,000 after purchasing an additional 808 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in International Flavors & Fragrances during the 4th quarter worth about $32,000. Charles Schwab Investment Management Inc. raised its holdings in International Flavors & Fragrances by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,545,718 shares of the specialty chemicals company's stock worth $130,690,000 after purchasing an additional 46,903 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in International Flavors & Fragrances by 3.0% during the 4th quarter. Victory Capital Management Inc. now owns 116,419 shares of the specialty chemicals company's stock worth $9,843,000 after purchasing an additional 3,400 shares during the last quarter. 96.02% of the stock is owned by institutional investors.
International Flavors & Fragrances Stock Up 1.6%
NYSE:IFF traded up $1.20 during trading hours on Tuesday, reaching $76.20. 704,515 shares of the stock were exchanged, compared to its average volume of 1,722,742. International Flavors & Fragrances Inc. has a twelve month low of $65.85 and a twelve month high of $106.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 1.39. The firm has a 50 day moving average of $76.20 and a 200 day moving average of $79.06. The stock has a market cap of $19.49 billion, a PE ratio of -23.30, a PEG ratio of 3.39 and a beta of 1.04.
International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.08. International Flavors & Fragrances had a positive return on equity of 7.99% and a negative net margin of 7.31%. The company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The business's revenue was down 1.9% compared to the same quarter last year. On average, equities analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.
International Flavors & Fragrances Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, June 20th. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -48.93%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on IFF. Barclays upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $76.00 to $84.00 in a research report on Thursday, May 8th. Citigroup boosted their target price on International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company decreased their target price on International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Tigress Financial began coverage on International Flavors & Fragrances in a research report on Wednesday, June 4th. They set a "buy" rating and a $105.00 target price for the company. Finally, Morgan Stanley decreased their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.43.
Check Out Our Latest Analysis on International Flavors & Fragrances
Insiders Place Their Bets
In related news, CAO Beril Yildiz sold 2,400 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $77.33, for a total value of $185,592.00. Following the sale, the chief accounting officer owned 3,321 shares in the company, valued at approximately $256,812.93. This represents a 41.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin O'byrne acquired 4,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $76.05 per share, for a total transaction of $342,225.00. Following the transaction, the director directly owned 7,696 shares in the company, valued at approximately $585,280.80. This trade represents a 140.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 22,050 shares of company stock worth $1,688,512 in the last quarter. Company insiders own 0.17% of the company's stock.
International Flavors & Fragrances Profile
(
Free Report)
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.
Read More
Before you consider International Flavors & Fragrances, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and International Flavors & Fragrances wasn't on the list.
While International Flavors & Fragrances currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
