International Flavors & Fragrances Inc. $IFF Shares Acquired by Dodge & Cox

Key Points

• Dodge & Cox increased its stake in International Flavors & Fragrances by 5.5% in Q3, buying 1,925,251 shares to hold 36,972,638 shares — roughly 14.44% of the company worth about $2.28 billion.
• IFF reported quarterly EPS $0.80 (miss vs. $0.85) while revenue of $2.59B beat expectations but fell 6.6% year‑over‑year, and the company declared a $0.40 quarterly dividend (annualized yield ~2.3%).
• Wall Street sentiment has improved with several upgrades and higher targets, leaving a consensus of Moderate Buy and an average price target near $90.09.

Dodge & Cox increased its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,972,638 shares of the specialty chemicals company's stock after buying an additional 1,925,251 shares during the quarter. Dodge & Cox owned about 14.44% of International Flavors & Fragrances worth $2,275,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of IFF. Invesco Ltd. boosted its position in shares of International Flavors & Fragrances by 131.3% during the 3rd quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company's stock valued at $441,068,000 after acquiring an additional 4,069,075 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new position in International Flavors & Fragrances in the 2nd quarter valued at about $212,090,000. Ameriprise Financial Inc. grew its stake in shares of International Flavors & Fragrances by 1,842.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company's stock valued at $183,264,000 after buying an additional 2,363,307 shares during the period. Norges Bank purchased a new stake in shares of International Flavors & Fragrances during the 2nd quarter valued at approximately $152,736,000. Finally, First Eagle Investment Management LLC lifted its holdings in International Flavors & Fragrances by 27.3% in the third quarter. First Eagle Investment Management LLC now owns 6,927,070 shares of the specialty chemicals company's stock valued at $426,292,000 after acquiring an additional 1,485,976 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF opened at $69.58 on Friday. The stock's 50-day moving average is $74.52 and its two-hundred day moving average is $68.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.42 and a quick ratio of 0.85. The company has a market cap of $17.78 billion, a price-to-earnings ratio of -50.79, a price-to-earnings-growth ratio of 1.83 and a beta of 0.99. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $84.45.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.The firm had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The firm's quarterly revenue was down 6.6% on a year-over-year basis. Analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 20th. International Flavors & Fragrances's dividend payout ratio is -116.79%.

Wall Street Analysts Forecast Growth

IFF has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on International Flavors & Fragrances from $75.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Wall Street Zen raised shares of International Flavors & Fragrances from a "sell" rating to a "hold" rating in a research note on Sunday, January 4th. Mizuho boosted their price target on shares of International Flavors & Fragrances from $75.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Rothschild & Co Redburn lifted their target price on shares of International Flavors & Fragrances from $66.00 to $74.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Finally, Oppenheimer upgraded International Flavors & Fragrances from a "market perform" rating to an "outperform" rating and set a $97.00 price target on the stock in a research note on Friday, February 13th. Thirteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.09.

International Flavors & Fragrances Company Profile

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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