International Flavors & Fragrances Inc. $IFF Shares Bought by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC boosted its stake in International Flavors & Fragrances by 257.7% in Q3, adding 69,740 shares to hold 96,805 shares worth about $5.96 million, and institutional investors own roughly 96.02% of the stock.
• IFF missed its most recent quarterly EPS ($0.80 vs. $0.85 expected), reported revenue down 6.6% year-over-year with a negative net margin (-3.2%), and currently trades with a negative P/E (-50.14) on a $17.55 billion market cap.
• The company declared a quarterly dividend of $0.40 (annualized $1.60, ~2.3% yield) and holds a consensus Moderate Buy analyst rating with an average price target of $90.09.

Magnetar Financial LLC lifted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 257.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 96,805 shares of the specialty chemicals company's stock after acquiring an additional 69,740 shares during the period. Magnetar Financial LLC's holdings in International Flavors & Fragrances were worth $5,957,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC boosted its stake in International Flavors & Fragrances by 896.4% during the 3rd quarter. True Wealth Design LLC now owns 548 shares of the specialty chemicals company's stock valued at $34,000 after purchasing an additional 493 shares during the period. Elkhorn Partners Limited Partnership increased its stake in shares of International Flavors & Fragrances by 200.0% in the second quarter. Elkhorn Partners Limited Partnership now owns 600 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 400 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after buying an additional 210 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of International Flavors & Fragrances during the second quarter worth approximately $49,000. Finally, Transamerica Financial Advisors LLC grew its holdings in International Flavors & Fragrances by 884.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after buying an additional 610 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Stock Performance

IFF opened at $68.69 on Thursday. The business has a 50 day moving average price of $74.44 and a two-hundred day moving average price of $68.14. 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 capitalization of $17.55 billion, a price-to-earnings ratio of -50.14, a price-to-earnings-growth ratio of 1.91 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 issued its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts predict that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 20th. International Flavors & Fragrances's payout ratio is presently -116.79%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of International Flavors & Fragrances in a research report on Monday, December 29th. Citigroup increased their price target on International Flavors & Fragrances from $83.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. Mizuho raised their price target on International Flavors & Fragrances from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. Bank of America lifted their price objective on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, January 8th. Finally, BNP Paribas Exane decreased their target price on shares of International Flavors & Fragrances from $89.00 to $88.00 and set an "outperform" rating for the company in a research report 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 assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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