Korea Investment CORP Sells 51,632 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Korea Investment CORP reduced its stake in International Flavors & Fragrances Inc. by 22.1%, owning 182,323 shares after selling 51,632 during the first quarter.
• The company reported quarterly earnings of $1.15 per share, exceeding estimates, with a revenue of $2.76 billion, despite a 4.3% decline from the previous year.
• A quarterly dividend of $0.40 per share is set to be paid on October 10th, with a yield of 2.4%, although the payout ratio stands at -103.23%.

Korea Investment CORP lessened its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 22.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 182,323 shares of the specialty chemicals company's stock after selling 51,632 shares during the period. Korea Investment CORP owned 0.07% of International Flavors & Fragrances worth $14,150,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in International Flavors & Fragrances by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,390,040 shares of the specialty chemicals company's stock worth $2,358,571,000 after acquiring an additional 171,281 shares during the period. Freemont Capital Pte Ltd acquired a new position in shares of International Flavors & Fragrances in the 4th quarter valued at $2,143,882,000. First Pacific Advisors LP grew 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. Northern Trust Corp grew its holdings in shares of International Flavors & Fragrances by 19.9% in the 4th quarter. Northern Trust Corp now owns 3,407,262 shares of the specialty chemicals company's stock valued at $288,084,000 after buying an additional 565,769 shares during the period. Finally, Invesco Ltd. grew 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. Institutional investors and hedge funds own 96.02% of the company's stock.

International Flavors & Fragrances Stock Up 0.1%

NYSE:IFF traded up $0.08 on Wednesday, hitting $66.80. 2,018,898 shares of the company's stock were exchanged, compared to its average volume of 2,567,401. The firm has a 50-day moving average price of $71.81 and a 200-day moving average price of $75.57. 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 Inc. has a 52 week low of $62.33 and a 52 week high of $106.77. The company has a market cap of $17.12 billion, a P/E ratio of -43.09, a price-to-earnings-growth ratio of 2.89 and a beta of 1.04.

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 EPS for the quarter, topping 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 firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same period in the previous year, the firm posted $1.16 EPS. The company'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. As a group, analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.60 annualized dividend and a yield of 2.4%. International Flavors & Fragrances's payout ratio is -103.23%.

Analyst Ratings Changes

IFF has been the subject of several research analyst reports. Robert W. Baird decreased their price target on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Barclays decreased their price target on shares of International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Citigroup boosted their price target on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Oppenheimer lowered shares of International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Finally, UBS Group decreased their price target on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $92.36.

Insider Activity

In other news, Director Paul J. Fribourg bought 15,450 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were 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 in the company, valued at $1,001,160. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Erik Fyrwald bought 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, for a total transaction 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 position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company's stock.

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.