Assenagon Asset Management S.A. Boosts Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• Assenagon Asset Management S.A. boosted its stake in International Flavors & Fragrances Inc. by 360.5%, owning 45,981 shares worth $3.38 million after acquiring an additional 35,995 shares.
• Institutional investors own 96.02% of International Flavors & Fragrances' stock, with several firms, including Dodge & Cox and GAMMA Investing, significantly increasing their holdings in the first quarter.
• The company reported a quarterly EPS of $1.15, beating expectations, although its revenue decreased by 4.3% year-over-year.

Assenagon Asset Management S.A. increased its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 360.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,981 shares of the specialty chemicals company's stock after buying an additional 35,995 shares during the period. Assenagon Asset Management S.A.'s holdings in International Flavors & Fragrances were worth $3,382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IFF. Dodge & Cox boosted 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 valued at $2,621,247,000 after purchasing an additional 2,336,844 shares during the period. Nuveen LLC purchased a new position in shares of International Flavors & Fragrances in the 1st quarter valued at about $57,324,000. GAMMA Investing LLC grew its position in shares of International Flavors & Fragrances by 6,831.5% during the first quarter. GAMMA Investing LLC now owns 556,464 shares of the specialty chemicals company's stock worth $431,870,000 after buying an additional 548,436 shares in the last quarter. Invesco Ltd. increased its stake in shares of International Flavors & Fragrances by 15.3% during the first quarter. Invesco Ltd. now owns 2,992,437 shares of the specialty chemicals company's stock worth $232,243,000 after buying an additional 397,327 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in International Flavors & Fragrances by 63.5% in the first quarter. Alyeska Investment Group L.P. now owns 929,069 shares of the specialty chemicals company's stock valued at $72,105,000 after acquiring an additional 360,870 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Transactions at International Flavors & Fragrances

In related news, CEO J Erik Fyrwald acquired 15,300 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was bought at an average cost of $64.95 per share, with a total value of $993,735.00. Following the transaction, the chief executive officer owned 77,370 shares of the company's stock, 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 the SEC website. Also, Director Paul J. Fribourg bought 15,450 shares of the stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $64.80 per share, for a total transaction of $1,001,160.00. Following the completion of the purchase, the director directly owned 15,450 shares in the company, valued at approximately $1,001,160. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Trading Up 0.3%

NYSE:IFF opened at $62.56 on Thursday. The company has a market capitalization of $16.03 billion, a PE ratio of -40.36, a P/E/G ratio of 2.71 and a beta of 1.07. International Flavors & Fragrances Inc. has a 52-week low of $62.13 and a 52-week high of $106.77. The stock's 50 day moving average price is $67.79 and its 200 day moving average price is $73.16. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted 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. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.69 billion. International Flavors & Fragrances had a positive return on equity of 7.95% and a negative net margin of 3.48%.The company's revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a $0.40 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.6%. International Flavors & Fragrances's payout ratio is currently -103.23%.

Analyst Ratings Changes

IFF has been the topic of a number of recent analyst reports. Wolfe Research raised shares of International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research report on Monday, September 8th. UBS Group dropped their target price on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. BNP Paribas Exane decreased their price target on International Flavors & Fragrances from $96.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, September 11th. Morgan Stanley dropped their price objective on International Flavors & Fragrances from $92.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Barclays decreased their target price 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. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.80.

International Flavors & Fragrances 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.

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