Bank of America Corp DE Grows Stock Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Bank of America increased its IFF stake by 1.6% to 1.5 million shares worth approximately $109.1 million. Institutional investors and hedge funds collectively own 96.02% of the company.
• Analysts maintain a generally positive outlook, with IFF receiving a “Moderate Buy” consensus rating and an average price target of $92.16, although some firms issued downgrades or retained neutral views.
• IFF’s latest quarter missed expectations, reporting $0.82 in EPS versus $1.07 expected and $1.95 billion in revenue versus $2.62 billion estimated. The company also authorized a $2.5 billion share-repurchase program and declared a quarterly dividend of $0.40 per share.

Bank of America Corp DE raised its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,504,078 shares of the specialty chemicals company's stock after acquiring an additional 23,680 shares during the quarter. Bank of America Corp DE owned approximately 0.59% of International Flavors & Fragrances worth $109,121,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IFF. Invesco Ltd. grew its holdings in International Flavors & Fragrances by 131.3% in the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company's stock valued at $441,068,000 after purchasing an additional 4,069,075 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $211,703,000. Ameriprise Financial Inc. lifted its position in shares of International Flavors & Fragrances by 1,842.0% during the second quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company's stock worth $183,264,000 after purchasing an additional 2,363,307 shares in the last quarter. First Eagle Investment Management LLC raised its position 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 valued at $595,166,000 after purchasing an additional 1,904,598 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of International Flavors & Fragrances during the 4th quarter valued at approximately $113,284,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on IFF. Wall Street Zen downgraded International Flavors & Fragrances from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup reduced their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. BNP Paribas Exane upped their target price on International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Barclays increased their price target on International Flavors & Fragrances from $90.00 to $96.00 and gave the company an "overweight" rating in a research note on Friday. Finally, UBS Group upped their price objective on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a "neutral" rating in a report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, International Flavors & Fragrances has an average rating of "Moderate Buy" and an average target price of $92.16.

Insider Buying and Selling

In related news, Director Paul J. Fribourg bought 260,000 shares of the business's stock in a transaction on Monday, June 1st. The stock was bought at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the transaction, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Deveau sold 8,825 shares of International Flavors & Fragrances stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value of $754,978.75. Following the sale, the executive vice president directly owned 5,199 shares of the company's stock, valued at approximately $444,774.45. The trade was a 62.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.07% of the stock is owned by corporate insiders.

International Flavors & Fragrances Stock Up 1.5%

IFF stock opened at $85.80 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 0.87. The firm has a market capitalization of $21.89 billion, a P/E ratio of 78.72, a P/E/G ratio of 2.50 and a beta of 0.93. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $89.32. The company's 50 day simple moving average is $77.77 and its 200-day simple moving average is $75.47.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.25). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business posted $1.15 EPS. The company's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 3.85 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances's payout ratio is presently 146.79%.

International Flavors & Fragrances declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 4th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 12.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Key Headlines Impacting International Flavors & Fragrances

Here are the key news stories impacting International Flavors & Fragrances this week:

• Positive Sentiment: Barclays raised its price target from $90 to $96 and upgraded its stance to “overweight,” implying approximately 12% upside from the reference price. The move signals improving confidence in IFF’s earnings outlook and restructuring efforts. Benzinga analyst update
• Positive Sentiment: Benchmark increased its target from $100 to $105 and maintained a “buy” rating, representing roughly 22% potential upside. This is the most bullish valuation among the recent analyst actions. Benzinga analyst update
• Positive Sentiment: IFF plans to repurchase up to $2.5 billion of its shares, which could support per-share earnings and signal that management views the stock as attractively valued. IFF share buyback report
• Neutral Sentiment: UBS raised its price target from $84 to $91 but retained a “neutral” rating. The higher valuation provides modest upside, while the unchanged rating suggests the firm sees balanced potential and risks. Benzinga analyst update
• Negative Sentiment: Vertical Research downgraded IFF from “buy” to “hold,” despite assigning a $93 price target. The downgrade may limit enthusiasm because it reflects less conviction in near-term upside. Finviz analyst update
• Negative Sentiment: Second-quarter results were mixed to weak: adjusted earnings per share came in at $0.82 versus the $1.07 consensus, while revenue of $1.95 billion missed estimates of $2.62 billion. IFF also lowered its full-year sales outlook, overshadowing modest year-over-year revenue growth. International Flavors Q2 earnings snapshot

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.

Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc. (NYSE:IFF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source