Geode Capital Management LLC Grows Stake in International Flavors & Fragrances Inc. $IFF

Key Points

• Geode Capital Management increased its stake in International Flavors & Fragrances by 2.6% in the fourth quarter, adding 172,781 shares. The firm now owns 6.77 million shares worth about $454.6 million.
• Several other institutional investors also boosted their holdings, and 96.02% of IFF stock is owned by hedge funds and other institutions. That points to heavy institutional interest in the specialty chemicals company.
• IFF reported better-than-expected quarterly earnings, with EPS of $1.25 versus $1.08 expected and revenue of $2.74 billion versus $2.64 billion forecast. The company also announced a $0.40 quarterly dividend, yielding about 2.1%.

Geode Capital Management LLC raised its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,771,894 shares of the specialty chemicals company's stock after acquiring an additional 172,781 shares during the period. Geode Capital Management LLC owned approximately 2.64% of International Flavors & Fragrances worth $454,607,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of IFF. Invesco Ltd. grew its stake in shares of 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 worth $441,068,000 after acquiring an additional 4,069,075 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of International Flavors & Fragrances by 1,842.0% in the second quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company's stock worth $183,264,000 after acquiring an additional 2,363,307 shares during the last quarter. Dodge & Cox grew its stake in shares of International Flavors & Fragrances by 5.5% in the third quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company's stock worth $2,275,296,000 after acquiring an additional 1,925,251 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of International Flavors & Fragrances by 27.5% in the fourth quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company's stock worth $595,166,000 after acquiring an additional 1,904,598 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of International Flavors & Fragrances by 51.4% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,706,279 shares of the specialty chemicals company's stock worth $289,624,000 after acquiring an additional 1,598,266 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IFF shares. Jefferies Financial Group increased their target price on International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Rothschild & Co Redburn cut their target price on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Barclays increased their price objective on International Flavors & Fragrances from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings raised International Flavors & Fragrances from a "sell (d)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Finally, Berenberg Bank increased their price objective on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a "hold" rating in a research report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.80.

International Flavors & Fragrances Trading Down 0.1%

International Flavors & Fragrances stock opened at $76.01 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $84.45. The stock has a market capitalization of $19.41 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.67 and a beta of 0.94. The business's fifty day moving average is $73.20 and its 200 day moving average is $71.76.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.64 billion. During the same period last year, the firm posted $1.20 earnings per share. International Flavors & Fragrances's revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.57 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, June 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio (DPR) is presently 48.93%.

Key Headlines Impacting International Flavors & Fragrances

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

• Positive Sentiment: IFF said the Food Ingredients sale to CVC is valued at roughly $4.3 billion, or about 10x EBITDA, which could help strengthen the balance sheet and support a more focused business mix. IFF Enters Into Agreement to Sell Its Food Ingredients Business to CVC
• Positive Sentiment: The company also backed its annual sales outlook, which may reassure investors that the divestiture is part of a broader profitability strategy rather than a sign of weakening demand. IFF To Sell Food Ingredients Business For $4.3 Bln, Backs Annual Sales Outlook; Pre-Market Stock Up
• Neutral Sentiment: LMR by IFF opened a new experimental field in Grasse, France, highlighting ongoing investment in natural ingredients and perfumery research, but this is unlikely to have an immediate stock-moving impact. LMR by IFF Inaugurates New Experimental Field in Grasse
• Negative Sentiment: Some investors may worry that selling the Food Ingredients unit reduces IFF’s scale and removes a key revenue contributor, even if the move improves profitability over time. International Flavors and Fragrances nears $4 billion deal to sell food ingredients business, WSJ reports

Insider Transactions at International Flavors & Fragrances

In other news, Director Paul J. Fribourg bought 142,000 shares of the company's stock in a transaction on Thursday, March 12th. The shares were acquired at an average cost of $70.13 per share, with a total value of $9,958,460.00. Following the completion of the transaction, the director owned 2,422,730 shares of the company's stock, valued at approximately $169,906,054.90. This trade represents a 6.23% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.07% of the company's stock.

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.

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