Great Lakes Advisors LLC Sells 101,886 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Great Lakes Advisors LLC has reduced its stake in International Flavors & Fragrances by 34.6%, now owning approximately 0.08% of the company worth about $14.96 million.
• The company reported $1.15 EPS for the latest quarter, exceeding estimates, but faced a 4.3% year-over-year revenue decline.
• International Flavors & Fragrances announced a quarterly dividend of $0.40 per share, with an annualized yield of 2.4%, despite a negative dividend payout ratio of -103.23%.

Great Lakes Advisors LLC cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 34.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 192,810 shares of the specialty chemicals company's stock after selling 101,886 shares during the period. Great Lakes Advisors LLC owned 0.08% of International Flavors & Fragrances worth $14,964,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of IFF. Banque Transatlantique SA acquired a new position in International Flavors & Fragrances during the first quarter valued at approximately $32,000. Zions Bancorporation National Association UT acquired a new position in International Flavors & Fragrances during the first quarter valued at approximately $42,000. Mather Group LLC. boosted its position in International Flavors & Fragrances by 179.9% during the first quarter. Mather Group LLC. now owns 655 shares of the specialty chemicals company's stock valued at $51,000 after purchasing an additional 421 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in International Flavors & Fragrances during the first quarter valued at approximately $77,000. Finally, Quarry LP boosted its position in International Flavors & Fragrances by 40.0% during the first quarter. Quarry LP now owns 1,295 shares of the specialty chemicals company's stock valued at $101,000 after purchasing an additional 370 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Flavors & Fragrances

In other news, CEO J Erik Fyrwald purchased 15,300 shares of the company's stock in a transaction that occurred on 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 owned 77,370 shares in the company, valued at approximately $5,025,181.50. This trade represents a 24.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Fribourg acquired 15,450 shares of the stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $64.80 per share, for a total transaction of $1,001,160.00. Following the purchase, the director 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. Company insiders own 0.17% of the company's stock.

International Flavors & Fragrances Stock Performance

NYSE:IFF traded down $0.67 during mid-day trading on Friday, hitting $65.68. 1,921,160 shares of the stock were exchanged, compared to its average volume of 1,745,143. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of -42.37, a price-to-earnings-growth ratio of 2.84 and a beta of 1.07. The firm's 50-day simple moving average is $69.71 and its 200 day simple moving average is $74.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86. International Flavors & Fragrances Inc. has a fifty-two week low of $62.33 and a fifty-two week high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.04. The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.16 EPS. International Flavors & Fragrances has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Oppenheimer cut International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. Wolfe Research raised International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research report on Monday, September 8th. Barclays cut their price objective on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. UBS Group cut their price objective on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company cut their price objective on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.36.

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.