International Flavors & Fragrances Inc. $IFF Position Boosted by Covea Finance

Key Points

• Covea Finance increased its holdings in International Flavors & Fragrances by 51.7%, acquiring an additional 68,068 shares in the second quarter, bringing its total to 199,828 shares valued at approximately $14.7 million.
• Equities analysts show a mixed outlook, with a consensus rating of "Moderate Buy" and a target price averaging $91.80, although a few analysts have lowered their price targets recently.
• The company reported $1.15 earnings per share for the last quarter, slightly exceeding estimates, but revenue was down 4.3% year-over-year.

Covea Finance increased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 51.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,828 shares of the specialty chemicals company's stock after buying an additional 68,068 shares during the quarter. Covea Finance owned about 0.08% of International Flavors & Fragrances worth $14,697,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IFF. Banque Transatlantique SA acquired a new stake in International Flavors & Fragrances in the first quarter worth approximately $32,000. Zions Bancorporation National Association UT acquired a new stake in International Flavors & Fragrances in the first quarter worth approximately $42,000. Geneos Wealth Management Inc. lifted its position in 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 purchasing an additional 210 shares during the period. Mather Group LLC. lifted its position in International Flavors & Fragrances by 179.9% in the first quarter. Mather Group LLC. now owns 655 shares of the specialty chemicals company's stock worth $51,000 after purchasing an additional 421 shares during the period. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of International Flavors & Fragrances during the 1st quarter valued at $77,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Tigress Financial reiterated a "buy" rating and set a $105.00 price objective on shares of International Flavors & Fragrances in a research report on Tuesday, August 26th. Barclays cut their price objective on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. UBS Group cut their price objective on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Wolfe Research raised shares of International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday, September 8th. Finally, Oppenheimer downgraded shares of International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.80.

International Flavors & Fragrances Trading Down 2.1%

Shares of NYSE:IFF opened at $62.21 on Tuesday. The company has a market cap of $15.94 billion, a P/E ratio of -40.13, a P/E/G ratio of 2.75 and a beta of 1.07. The stock's 50-day moving average is $68.25 and its 200-day moving average is $73.31. International Flavors & Fragrances Inc. has a 52-week low of $62.17 and a 52-week high of $106.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86.

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

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -103.23%.

Insider Activity

In related news, CEO J Erik Fyrwald bought 15,300 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average price of $64.95 per share, for a total transaction of $993,735.00. Following the completion of the purchase, the chief executive officer owned 77,370 shares in the company, valued at approximately $5,025,181.50. This represents a 24.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Fribourg bought 15,450 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the purchase, the director owned 15,450 shares of the company's stock, valued at $1,001,160. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

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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