DAVENPORT & Co LLC Acquires 31,337 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• DAVENPORT & Co LLC significantly increased its stake in International Flavors & Fragrances, acquiring an additional 31,337 shares, resulting in a total of 38,400 shares valued at approximately $2.85 million.
• During its most recent earnings report, International Flavors & Fragrances exceeded expectations with an EPS of $1.15, reporting revenue of $2.76 billion, despite a year-over-year decline.
• The company declared a quarterly dividend of $0.40 per share, representing a 2.6% dividend yield, although its payout ratio is notably negative at -103.23%.

DAVENPORT & Co LLC increased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 443.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,400 shares of the specialty chemicals company's stock after buying an additional 31,337 shares during the period. DAVENPORT & Co LLC's holdings in International Flavors & Fragrances were worth $2,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Horizon Investments LLC lifted 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 purchasing an additional 172 shares during the period. UMB Bank n.a. raised its position in shares of International Flavors & Fragrances by 17.3% in the second quarter. UMB Bank n.a. now owns 1,290 shares of the specialty chemicals company's stock worth $95,000 after acquiring an additional 190 shares during the period. GM Advisory Group LLC raised its position in shares of International Flavors & Fragrances by 2.6% in the first quarter. GM Advisory Group LLC now owns 7,952 shares of the specialty chemicals company's stock worth $617,000 after acquiring an additional 202 shares during the period. Byrne Asset Management LLC raised its position in shares of International Flavors & Fragrances by 3.3% in the first quarter. Byrne Asset Management LLC now owns 6,637 shares of the specialty chemicals company's stock worth $515,000 after acquiring an additional 210 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after acquiring an additional 210 shares during the period. Institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Stock Performance

International Flavors & Fragrances stock opened at $61.28 on Thursday. The firm has a 50 day simple moving average of $64.91 and a 200-day simple moving average of $71.87. International Flavors & Fragrances Inc. has a 1-year low of $59.89 and a 1-year high of $106.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.12. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of -39.54, a price-to-earnings-growth ratio of 2.65 and a beta of 1.07.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results 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 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 company posted $1.16 EPS. The business's revenue for the quarter was down 4.3% on a year-over-year basis. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, 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. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. International Flavors & Fragrances's dividend payout ratio is -103.23%.

Analysts Set New Price Targets

A number of brokerages have weighed in on IFF. Argus decreased their price objective on shares of International Flavors & Fragrances from $85.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday. Citigroup decreased their price objective on shares of International Flavors & Fragrances from $82.00 to $75.00 and set a "buy" rating for the company in a research report on Monday. Mizuho decreased their price objective on shares of International Flavors & Fragrances from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. Morgan Stanley decreased their price objective on shares of International Flavors & Fragrances from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, September 22nd. Finally, BNP Paribas Exane reduced their price target on shares of International Flavors & Fragrances from $96.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. Thirteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and an average price target of $87.57.

Insider Activity at International Flavors & Fragrances

In other news, Director Paul J. Fribourg purchased 15,450 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was acquired at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the purchase, the director directly owned 15,450 shares in the company, valued at approximately $1,001,160. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO J Erik Fyrwald purchased 15,300 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was purchased at an average cost of $64.95 per share, with a total value of $993,735.00. Following the purchase, the chief executive officer owned 77,370 shares in the company, valued at approximately $5,025,181.50. This trade represents a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company's stock.

About International Flavors & Fragrances

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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