International Flavors & Fragrances Inc. $IFF Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its holdings in International Flavors & Fragrances Inc. by 32.2% during the 2nd quarter, owning a total of 111,431 shares worth approximately $8.37 million.
• Analysts have downgraded price targets for the stock, with Barclays and BNP Paribas Exane lowering their targets to $72.00 and $92.00 respectively, while maintaining an "overweight" and "outperform" rating.
• CEO J. Erik Fyrwald purchased 15,300 shares at about $64.95 per share, increasing his ownership by nearly 24.65%, signaling confidence in the company's future performance.

Allspring Global Investments Holdings LLC lifted its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 32.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 111,431 shares of the specialty chemicals company's stock after acquiring an additional 27,166 shares during the period. Allspring Global Investments Holdings LLC's holdings in International Flavors & Fragrances were worth $8,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in shares of International Flavors & Fragrances during the 1st quarter worth about $32,000. American National Bank & Trust raised its position in shares of International Flavors & Fragrances by 11,975.0% during the 2nd quarter. American National Bank & Trust now owns 483 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 479 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in International Flavors & Fragrances during the 1st quarter worth approximately $42,000. Geneos Wealth Management Inc. grew its stake in International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after buying an additional 210 shares during the last quarter. Finally, Eastern Bank grew its stake in International Flavors & Fragrances by 43.9% during the 2nd quarter. Eastern Bank now owns 633 shares of the specialty chemicals company's stock worth $47,000 after buying an additional 193 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays dropped their price target on International Flavors & Fragrances from $78.00 to $72.00 and set an "overweight" rating on the stock in a research note on Friday, October 10th. BNP Paribas Exane dropped their price target on International Flavors & Fragrances from $96.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, September 11th. Berenberg Bank dropped their price target on International Flavors & Fragrances from $78.80 to $78.30 and set a "hold" rating on the stock in a research note on Monday, September 29th. Mizuho dropped their price target on International Flavors & Fragrances from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. Finally, Wolfe Research upgraded International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday, September 8th. Thirteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.07.

Insider Activity at International Flavors & Fragrances

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

International Flavors & Fragrances Trading Up 2.0%

Shares of IFF stock opened at $63.84 on Monday. The business's 50 day moving average is $64.00 and its two-hundred day moving average is $71.00. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $105.03. The company has a market capitalization of $16.36 billion, a P/E ratio of -41.19, a price-to-earnings-growth ratio of 2.57 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its 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. 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 company's revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, September 29th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -103.23%.

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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