Handelsbanken Fonder AB Has $4.46 Million Stake in International Flavors & Fragrances Inc. $IFF

Key Points

• Handelsbanken Fonder AB cut its stake in International Flavors & Fragrances by 49.9% in the fourth quarter, leaving it with 66,200 shares valued at about $4.46 million.
• IFF reported better-than-expected first-quarter earnings of $1.25 per share on revenue of $2.74 billion, though revenue still declined 3.6% year over year. Analysts currently expect the company to earn $4.55 per share this fiscal year.
• The company declared a quarterly dividend of $0.40 per share, or $1.60 annually, for a 2.1% yield. Wall Street remains broadly positive, with a Moderate Buy consensus and an average target price of $90.80.

Handelsbanken Fonder AB trimmed its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 49.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,200 shares of the specialty chemicals company's stock after selling 65,899 shares during the period. Handelsbanken Fonder AB's holdings in International Flavors & Fragrances were worth $4,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Tran Capital Management L.P. bought a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at about $21,924,000. JPMorgan Chase & Co. lifted its holdings in shares of International Flavors & Fragrances by 28.8% in the third quarter. JPMorgan Chase & Co. now owns 1,098,575 shares of the specialty chemicals company's stock valued at $67,612,000 after purchasing an additional 245,719 shares in the last quarter. Ruffer LLP bought a new stake in shares of International Flavors & Fragrances in the third quarter valued at about $13,552,000. Dodge & Cox lifted its holdings 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 valued at $2,275,296,000 after purchasing an additional 1,925,251 shares in the last quarter. Finally, Icahn Carl C lifted its holdings in shares of International Flavors & Fragrances by 26.7% in the third quarter. Icahn Carl C now owns 4,750,000 shares of the specialty chemicals company's stock valued at $292,315,000 after purchasing an additional 1,000,000 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Stock Performance

IFF opened at $75.32 on Friday. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $84.45. The firm has a market capitalization of $19.23 billion, a PE ratio of 23.03, a PEG ratio of 1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49. The business's 50-day simple moving average is $72.54 and its 200 day simple moving average is $71.21.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. International Flavors & Fragrances's revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio is presently 48.93%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price target on International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Weiss Ratings upgraded International Flavors & Fragrances from a "sell (d)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Barclays boosted their price target on International Flavors & Fragrances from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Berenberg Bank boosted their price target on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a "hold" rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an "overweight" rating in a 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.80.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg acquired 142,000 shares of the company's stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $70.13 per share, for a total transaction of $9,958,460.00. Following the completion of the purchase, the director directly owned 2,422,730 shares of the company's stock, valued at approximately $169,906,054.90. This represents a 6.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.07% of the stock is owned by corporate insiders.

About International Flavors & Fragrances

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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