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. decreased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 44.3% in the first quarter, according to the company in its most recent 13F 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 about 0.13% of International Flavors & Fragrances worth $24,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IFF. Banque Transatlantique SA purchased a new position in shares of International Flavors & Fragrances in the 1st quarter worth $32,000. Zions Bancorporation National Association UT purchased a new position in shares of International Flavors & Fragrances in the 1st quarter worth $42,000. Mather Group LLC. boosted 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 worth $51,000 after buying an additional 421 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of International Flavors & Fragrances in the 1st quarter worth $77,000. Finally, Quarry LP boosted its stake in shares of International Flavors & Fragrances by 40.0% in the 1st quarter. Quarry LP now owns 1,295 shares of the specialty chemicals company's stock worth $101,000 after buying an additional 370 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, CEO J Erik Fyrwald purchased 15,300 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were acquired at an average cost of $64.95 per share, with a total value of $993,735.00. Following the completion of the acquisition, the chief executive officer directly owned 77,370 shares in the company, valued at $5,025,181.50. The trade was a 24.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul J. Fribourg purchased 15,450 shares of the firm's 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 completion of the acquisition, the director owned 15,450 shares of the company's stock, 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. 0.20% of the stock is owned by company insiders.

International Flavors & Fragrances Price Performance

NYSE:IFF traded down $0.67 on Friday, reaching $65.68. 1,921,160 shares of the company's stock traded hands, compared to its average volume of 1,718,548. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39. The stock has a 50-day simple moving average of $69.71 and a 200-day simple moving average of $74.15. The firm has a market cap of $16.83 billion, a PE ratio of -42.37, a P/E/G ratio of 2.87 and a beta of 1.07. 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 posted its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.04. The business had revenue of $2.76 billion for 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 business's quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.16 earnings per share. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is currently -103.23%.

Wall Street Analysts Forecast Growth

IFF has been the topic of a number of research reports. Wolfe Research upgraded International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday, September 8th. UBS Group dropped their price target on 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. Tigress Financial reiterated a "buy" rating and set a $105.00 target price on shares of International Flavors & Fragrances in a research report on Tuesday, August 26th. Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Finally, Barclays cut their price target on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Twelve equities research 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's stock. According to data from MarketBeat, International Flavors & Fragrances has a consensus rating of "Moderate Buy" and an average target price of $92.36.

About International Flavors & Fragrances

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.