Bank Pictet & Cie Europe AG Reduces Stock Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• Bank Pictet & Cie Europe AG has reduced its stake in International Flavors & Fragrances Inc. (IFF) by 45.2%, now holding 218,360 shares valued at approximately $16 million.
• Despite the reduction by Pictet, other large investors like Dodge & Cox and Vanguard Group have increased their holdings in IFF, indicating a mixed sentiment among institutional investors.
• The stock has faced analyst downgrades with price target reductions, now averaging $91.80, while maintaining a consensus rating of "Moderate Buy."

Bank Pictet & Cie Europe AG lessened its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 45.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 218,360 shares of the specialty chemicals company's stock after selling 180,000 shares during the quarter. Bank Pictet & Cie Europe AG owned 0.09% of International Flavors & Fragrances worth $16,060,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IFF. Dodge & Cox lifted its holdings in shares of International Flavors & Fragrances by 7.4% in the 1st quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company's stock valued at $2,621,247,000 after buying an additional 2,336,844 shares during the period. Vanguard Group Inc. lifted its holdings in shares of International Flavors & Fragrances by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 30,390,040 shares of the specialty chemicals company's stock valued at $2,358,571,000 after buying an additional 171,281 shares during the period. First Pacific Advisors LP lifted its holdings in shares of International Flavors & Fragrances by 0.8% in the 1st quarter. First Pacific Advisors LP now owns 4,062,075 shares of the specialty chemicals company's stock valued at $315,258,000 after buying an additional 32,302 shares during the period. Invesco Ltd. lifted its holdings in shares of International Flavors & Fragrances by 15.3% in the 1st quarter. Invesco Ltd. now owns 2,992,437 shares of the specialty chemicals company's stock valued at $232,243,000 after buying an additional 397,327 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted 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 buying an additional 32,005 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analysts Set New Price Targets

IFF has been the topic of a number of recent analyst reports. Tigress Financial reiterated a "buy" rating and set a $105.00 price target on shares of International Flavors & Fragrances in a research report on Tuesday, August 26th. Oppenheimer downgraded International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. BNP Paribas Exane lowered their price target on International Flavors & Fragrances from $96.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. UBS Group lowered their price target on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley lowered their price target on International Flavors & Fragrances from $92.00 to $90.00 and set an "overweight" rating on the stock in a research report on Monday. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.80.

Insider Activity at International Flavors & Fragrances

In related news, CEO J Erik Fyrwald purchased 15,300 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased 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. This trade represents a 24.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul J. Fribourg purchased 15,450 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average cost of $64.80 per share, with a total value of $1,001,160.00. Following the acquisition, the director 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. 0.20% of the stock is currently owned by company insiders.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock opened at $60.30 on Friday. The business has a 50 day simple moving average of $67.49 and a two-hundred day simple moving average of $73.02. International Flavors & Fragrances Inc. has a 12 month low of $60.13 and a 12 month high of $106.77. The stock has a market capitalization of $15.45 billion, a P/E ratio of -38.90, a PEG ratio of 2.71 and a beta of 1.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.12.

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

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -103.23%.

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.

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