International Flavors & Fragrances Inc. $IFF Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank reduced its stake in International Flavors & Fragrances by 4.8% in Q3, selling 36,800 shares and finishing the period with 737,299 shares (about 0.29% of the company) valued at roughly $45.4 million.
• IFF missed EPS in the latest quarter ($0.80 vs. $0.85 est.) while revenue of $2.59 billion beat estimates but was down 6.6% YoY; the company reported a negative net margin and a negative P/E and declared a quarterly dividend of $0.40 (annualized yield ~2.3%).
• Analysts are generally positive with a consensus rating of Moderate Buy and an average price target of $90.09, and several firms recently raised targets (e.g., Wells Fargo $100, Oppenheimer $97, Deutsche Bank $95).

Swiss National Bank decreased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 737,299 shares of the specialty chemicals company's stock after selling 36,800 shares during the period. Swiss National Bank owned approximately 0.29% of International Flavors & Fragrances worth $45,373,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. True Wealth Design LLC raised its stake in shares of International Flavors & Fragrances by 896.4% in the 3rd quarter. True Wealth Design LLC now owns 548 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 493 shares during the period. Elkhorn Partners Limited Partnership boosted its position in International Flavors & Fragrances by 200.0% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 600 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 400 shares during the period. Geneos Wealth Management Inc. boosted its position in International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after purchasing an additional 210 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in International Flavors & Fragrances in the 2nd quarter valued at $49,000. Finally, Transamerica Financial Advisors LLC raised its position in International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock valued at $50,000 after purchasing an additional 610 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Price Performance

Shares of IFF stock opened at $70.06 on Friday. The firm has a fifty day moving average of $74.49 and a two-hundred day moving average of $68.16. The firm has a market cap of $17.90 billion, a P/E ratio of -51.14, a P/E/G ratio of 1.80 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. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.42 and a quick ratio of 0.85.

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

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders 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 dividend payout ratio (DPR) is currently -116.79%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of International Flavors & Fragrances in a research report on Monday, December 29th. Oppenheimer upgraded International Flavors & Fragrances from a "market perform" rating to an "outperform" rating and set a $97.00 target price on the stock in a report on Friday, February 13th. Wall Street Zen raised International Flavors & Fragrances from a "sell" rating to a "hold" rating in a research report on Sunday, January 4th. Wells Fargo & Company increased their price objective on shares of International Flavors & Fragrances from $85.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of International Flavors & Fragrances from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Thirteen 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.09.

International Flavors & Fragrances 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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