Alliancebernstein L.P. Sells 255,037 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Alliancebernstein L.P. has reduced its stake in International Flavors & Fragrances Inc. by 44.3%, now holding approximately 321,021 shares valued at $24.91 million.
• The company's latest quarterly earnings showed EPS of $1.15, slightly exceeding analysts' expectations, but revenue decreased by 4.3% year-over-year.
• A recent dividend of $0.40 per share was announced, representing a 2.5% dividend yield, with a payout ratio currently at -103.23%.

Alliancebernstein L.P. cut its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,021 shares of the specialty chemicals company's stock after selling 255,037 shares during the period. Alliancebernstein L.P. owned approximately 0.13% of International Flavors & Fragrances worth $24,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IFF. D. E. Shaw & Co. Inc. raised its position in shares of International Flavors & Fragrances by 287.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 72,243 shares of the specialty chemicals company's stock worth $6,108,000 after acquiring an additional 53,620 shares in the last quarter. Focus Partners Wealth bought a new position in shares of International Flavors & Fragrances in the 4th quarter worth about $521,000. Jefferies Financial Group Inc. grew its stake in shares of International Flavors & Fragrances by 378.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 13,800 shares of the specialty chemicals company's stock valued at $1,167,000 after buying an additional 10,913 shares during the period. Moore Capital Management LP acquired a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at about $2,375,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of International Flavors & Fragrances by 2.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,980 shares of the specialty chemicals company's stock valued at $2,112,000 after buying an additional 669 shares during the period. 96.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays reduced 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. UBS Group reduced 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. Wolfe Research upgraded International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday, September 8th. Wells Fargo & Company reduced their target price on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Finally, Oppenheimer downgraded International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.36.

Insiders Place Their Bets

In other International Flavors & Fragrances news, CEO J Erik Fyrwald bought 15,300 shares of the stock in a transaction on Thursday, August 7th. The shares were acquired at an average price of $64.95 per share, with a total value of $993,735.00. Following the acquisition, the chief executive officer directly owned 77,370 shares of the company's stock, valued at $5,025,181.50. The trade was a 24.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Fribourg bought 15,450 shares of the stock in a transaction on Thursday, August 7th. The shares were acquired at an average cost of $64.80 per share, for a total transaction of $1,001,160.00. Following the acquisition, the director directly 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. Insiders own 0.17% of the company's stock.

International Flavors & Fragrances Stock Performance

IFF stock traded down $0.06 during midday trading on Monday, reaching $65.56. 157,560 shares of the company's stock traded hands, compared to its average volume of 1,808,572. The company has a 50-day moving average price of $69.71 and a two-hundred day moving average price of $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 52 week low of $62.33 and a 52 week high of $106.77. The firm has a market capitalization of $16.80 billion, a PE ratio of -42.27, a price-to-earnings-growth ratio of 2.84 and a beta of 1.07.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 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 firm posted $1.16 EPS. The business'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. As a group, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

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

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.