Millennium Management LLC Sells 1,323,422 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Millennium Management LLC reduced its holdings in International Flavors & Fragrances by 49.4%, owning approximately 1,355,216 shares after selling over 1.3 million shares in the first quarter.
• CEO J Erik Fyrwald purchased 15,300 shares of the company at an average price of $64.95, increasing his ownership by 24.65%.
• Analysts have varied opinions on the stock, with recent price targets set between $78.00 and $105.00, while maintaining a consensus rating of "Moderate Buy".

Millennium Management LLC lessened its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,355,216 shares of the specialty chemicals company's stock after selling 1,323,422 shares during the quarter. Millennium Management LLC owned approximately 0.53% of International Flavors & Fragrances worth $105,178,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IFF. Banque Transatlantique SA acquired a new position in International Flavors & Fragrances in the 1st quarter valued at approximately $32,000. Zions Bancorporation National Association UT bought a new position in shares of International Flavors & Fragrances in the 1st quarter valued at approximately $42,000. Mather Group LLC. raised its stake in shares of International Flavors & Fragrances by 179.9% in the 1st quarter. Mather Group LLC. now owns 655 shares of the specialty chemicals company's stock valued at $51,000 after acquiring an additional 421 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in International Flavors & Fragrances during the 1st quarter valued at approximately $77,000. Finally, Quarry LP boosted its stake in International Flavors & Fragrances by 40.0% during the 1st 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 period. Institutional investors and hedge funds own 96.02% of the company's stock.

International Flavors & Fragrances Trading Up 1.7%

Shares of IFF stock traded up $1.09 on Thursday, reaching $65.57. The company had a trading volume of 944,710 shares, compared to its average volume of 1,808,315. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39. The stock has a market cap of $16.80 billion, a PE ratio of -42.32, a PEG ratio of 2.82 and a beta of 1.07. The company has a 50-day moving average of $70.13 and a 200-day moving average of $74.35. International Flavors & Fragrances Inc. has a 12 month low of $62.33 and a 12 month high of $106.77.

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 for the quarter, beating 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 business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the previous year, the business posted $1.16 EPS. International Flavors & Fragrances's revenue for the quarter was down 4.3% on a year-over-year basis. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend 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%.

Insider Buying and Selling

In related news, Director Paul J. Fribourg purchased 15,450 shares of the stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $64.80 per share, with a total value of $1,001,160.00. Following the acquisition, the director directly owned 15,450 shares in the company, valued at $1,001,160. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO J Erik Fyrwald purchased 15,300 shares of the stock in a transaction on Thursday, August 7th. The stock was bought at an average cost 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 in the company, valued at approximately $5,025,181.50. This trade represents a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on IFF shares. UBS Group decreased their target price on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Tigress Financial restated a "buy" rating and set a $105.00 target price on shares of International Flavors & Fragrances in a research note on Tuesday, August 26th. Wells Fargo & Company lowered their price target on 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. Barclays cut their target price on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Wolfe Research upgraded International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.