Comerica Bank Has $4.80 Million Stock Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• Comerica Bank increased its stake in International Flavors & Fragrances Inc. by 9.8% during Q1, owning 61,859 shares valued at approximately $4.8 million.
• Insider transactions included Director Paul J. Fribourg and CEO J Erik Fyrwald purchasing shares, indicating a 24.65% increase in Fyrwald's ownership.
• The company reported $1.15 EPS for the last quarter, surpassing estimates, although quarterly revenue was down 4.3% year-over-year.

Comerica Bank raised its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,859 shares of the specialty chemicals company's stock after purchasing an additional 5,518 shares during the period. Comerica Bank's holdings in International Flavors & Fragrances were worth $4,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mirova grew its stake in shares of International Flavors & Fragrances by 6.1% in the first quarter. Mirova now owns 81,982 shares of the specialty chemicals company's stock worth $6,363,000 after acquiring an additional 4,684 shares during the last quarter. Dodge & Cox boosted its holdings in International Flavors & Fragrances by 7.4% in the 1st quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company's stock valued at $2,621,247,000 after purchasing an additional 2,336,844 shares during the period. Allstate Corp grew its position in International Flavors & Fragrances by 33.4% in the 1st quarter. Allstate Corp now owns 10,133 shares of the specialty chemicals company's stock worth $786,000 after purchasing an additional 2,536 shares during the last quarter. Sprott Inc. bought a new position in shares of International Flavors & Fragrances during the 1st quarter worth about $331,000. Finally, Norinchukin Bank The raised its position in shares of International Flavors & Fragrances by 18.1% during the first quarter. Norinchukin Bank The now owns 16,024 shares of the specialty chemicals company's stock valued at $1,244,000 after buying an additional 2,453 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 15,450 shares of the stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $64.80 per share, for a total transaction of $1,001,160.00. Following the completion of the purchase, the director owned 15,450 shares in the company, valued at $1,001,160. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Erik Fyrwald bought 15,300 shares of the stock in a transaction dated Thursday, August 7th. The stock was acquired at an average price of $64.95 per share, with a total value of $993,735.00. Following the completion of the purchase, the chief executive officer owned 77,370 shares of the company's stock, valued at $5,025,181.50. This represents a 24.65% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IFF. Robert W. Baird lowered their price target on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Tigress Financial restated a "buy" rating and set a $105.00 price objective on shares of International Flavors & Fragrances in a research report on Tuesday, August 26th. Oppenheimer cut International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. UBS Group lowered their price target on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Morgan Stanley dropped their price objective on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.36.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock traded down $0.16 during mid-day trading on Thursday, hitting $65.55. 1,958,506 shares of the company were exchanged, compared to its average volume of 2,202,169. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $70.89 and a 200 day moving average of $74.81. International Flavors & Fragrances Inc. has a 1-year low of $62.33 and a 1-year high of $106.77. The company has a market capitalization of $16.80 billion, a PE ratio of -42.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

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

International Flavors & Fragrances Dividend Announcement

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