Great Lakes Advisors LLC Reduces Holdings in 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 lowered its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 34.6% in the first quarter, according to the company in its most recent 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 quarter. Great Lakes Advisors LLC owned 0.08% of International Flavors & Fragrances worth $14,964,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new position in International Flavors & Fragrances during the 1st quarter worth $32,000. Zions Bancorporation National Association UT purchased a new position in International Flavors & Fragrances during the 1st quarter worth $42,000. Mather Group LLC. grew its stake in shares of International Flavors & Fragrances by 179.9% during the 1st quarter. Mather Group LLC. now owns 655 shares of the specialty chemicals company's stock worth $51,000 after purchasing an additional 421 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in shares of International Flavors & Fragrances during the 1st quarter worth $77,000. Finally, Quarry LP grew its stake in shares of International Flavors & Fragrances by 40.0% during the 1st quarter. Quarry LP now owns 1,295 shares of the specialty chemicals company's stock worth $101,000 after purchasing an additional 370 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Tigress Financial reaffirmed a "buy" rating and set a $105.00 price target on shares of International Flavors & Fragrances in a research note on Tuesday, August 26th. Wolfe Research raised shares of International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday, September 8th. Oppenheimer cut shares of International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Finally, 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 research note on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.36.

Insider Activity at International Flavors & Fragrances

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

International Flavors & Fragrances Trading Down 1.0%

Shares of International Flavors & Fragrances stock 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 1,718,548. International Flavors & Fragrances Inc. has a twelve month low of $62.33 and a twelve month high of $106.77. 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 2.87 and a beta of 1.07. The company has a 50-day simple moving average of $69.71 and a 200 day simple moving average of $74.15. 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 released its quarterly earnings results 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 negative net margin of 3.48% and a positive return on equity of 7.95%. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same period last year, the company earned $1.16 EPS. The firm'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. Research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm 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 $0.40 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.60 annualized dividend and a yield of 2.4%. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -103.23%.

International Flavors & Fragrances 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.