AQR Capital Management LLC Grows Position in International Flavors & Fragrances Inc. $IFF

Key Points

• AQR Capital Management LLC increased its stake in International Flavors & Fragrances Inc. by 64.7%, owning 117,495 shares valued at approximately $8.97 million.
• Several other hedge funds also increased their positions during the 4th quarter, with notable increases such as D.E. Shaw & Co. Inc. raising its stake by 287.9%.
• International Flavors & Fragrances reported a quarterly earnings per share (EPS) of $1.15, surpassing analysts' expectations, despite a 4.3% year-over-year decline in revenue.

AQR Capital Management LLC lifted its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 64.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,495 shares of the specialty chemicals company's stock after purchasing an additional 46,166 shares during the quarter. AQR Capital Management LLC's holdings in International Flavors & Fragrances were worth $8,968,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IFF. Horizon Investments LLC grew its position in International Flavors & Fragrances by 4.9% during the first quarter. Horizon Investments LLC now owns 3,671 shares of the specialty chemicals company's stock valued at $285,000 after acquiring an additional 172 shares during the last quarter. GM Advisory Group LLC boosted its stake in shares of International Flavors & Fragrances by 2.6% in the 1st quarter. GM Advisory Group LLC now owns 7,952 shares of the specialty chemicals company's stock valued at $617,000 after purchasing an additional 202 shares in the last quarter. Byrne Asset Management LLC grew its holdings in shares of International Flavors & Fragrances by 3.3% during the 1st quarter. Byrne Asset Management LLC now owns 6,637 shares of the specialty chemicals company's stock valued at $515,000 after purchasing an additional 210 shares during the last quarter. Channing Global Advisors LLC raised its position in International Flavors & Fragrances by 0.5% in the 1st quarter. Channing Global Advisors LLC now owns 46,234 shares of the specialty chemicals company's stock worth $3,588,000 after purchasing an additional 226 shares during the period. Finally, Forum Financial Management LP lifted its stake in International Flavors & Fragrances by 6.3% in the first quarter. Forum Financial Management LP now owns 4,154 shares of the specialty chemicals company's stock worth $322,000 after purchasing an additional 247 shares during the last quarter. Institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Stock Performance

IFF traded up $0.10 during midday trading on Tuesday, hitting $64.47. 1,712,265 shares of the company traded hands, compared to its average volume of 1,813,512. The company's 50-day moving average is $69.27 and its 200 day moving average is $73.87. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $16.52 billion, a PE ratio of -41.59, a price-to-earnings-growth ratio of 2.79 and a beta of 1.07. International Flavors & Fragrances Inc. has a 52 week low of $62.33 and a 52 week high of $106.77.

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

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio (DPR) is -103.23%.

Insiders Place Their Bets

In other news, CEO J Erik Fyrwald bought 15,300 shares of the stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $64.95 per share, with a total value of $993,735.00. Following the completion of the acquisition, the chief executive officer owned 77,370 shares in the company, valued at $5,025,181.50. The trade was a 24.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Fribourg bought 15,450 shares of the company's stock in a transaction on Thursday, August 7th. The stock was purchased at an average cost of $64.80 per share, for a total transaction of $1,001,160.00. Following the completion of the transaction, the director directly owned 15,450 shares of the company's stock, valued at approximately $1,001,160. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IFF shares. Oppenheimer downgraded International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Wells Fargo & Company decreased their price target on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. UBS Group lowered their price objective on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Wolfe Research upgraded shares of International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a report on Monday, September 8th. Finally, Barclays lowered their price target on shares of International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Twelve investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.