International Flavors & Fragrances Inc. (NYSE:IFF) Holdings Reduced by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in International Flavors & Fragrances by 4.4%, selling 43,640 shares, and now owns 940,939 shares valued at approximately $73 million.
• In the first quarter, several institutional investors, notably Allspring Global Investments and Achmea Investment Management, increased their positions in the company, highlighting growing investor confidence as 96.02% of the stock is owned by institutional investors.
• International Flavors & Fragrances reported quarterly earnings with an EPS of $1.15, surpassing expectations, but experienced a 4.3% year-over-year decline in revenue, totaling $2.76 billion.

Deutsche Bank AG lessened its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 940,939 shares of the specialty chemicals company's stock after selling 43,640 shares during the period. Deutsche Bank AG owned 0.37% of International Flavors & Fragrances worth $73,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its holdings in International Flavors & Fragrances by 11.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock worth $6,525,000 after purchasing an additional 8,490 shares during the period. Manning & Napier Advisors LLC bought a new stake in International Flavors & Fragrances during the first quarter worth approximately $1,271,000. Royal Bank of Canada boosted its stake in International Flavors & Fragrances by 23.6% during the 4th quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock valued at $30,529,000 after purchasing an additional 68,970 shares in the last quarter. Chicago Capital LLC bought a new position in International Flavors & Fragrances during the 1st quarter valued at $688,000. Finally, Achmea Investment Management B.V. raised its stake in shares of International Flavors & Fragrances by 126.1% in the 1st quarter. Achmea Investment Management B.V. now owns 29,344 shares of the specialty chemicals company's stock worth $2,277,000 after buying an additional 16,368 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Price Performance

IFF opened at $63.60 on Monday. The stock has a fifty day moving average price of $74.65 and a 200 day moving average price of $77.27. 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 Inc. has a 1 year low of $63.50 and a 1 year high of $106.77. The stock has a market cap of $16.30 billion, a price-to-earnings ratio of -41.03, a PEG ratio of 2.43 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company earned $1.16 EPS. The firm's revenue was down 4.3% on a year-over-year basis. Analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio is -103.23%.

Analysts Set New Price Targets

IFF has been the topic of several research reports. Barclays dropped their price target on shares of International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating on the stock in a research report on Friday. Citigroup raised their target price on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Robert W. Baird dropped their price target on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday. Finally, Wells Fargo & Company cut their target price on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and a consensus target price of $92.36.

Insider Activity at International Flavors & Fragrances

In related news, Director Hernandez Margarita Palau acquired 850 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were acquired at an average cost of $77.42 per share, with a total value of $65,807.00. Following the purchase, the director owned 2,393 shares of the company's stock, valued at approximately $185,266.06. The trade was a 55.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin O'byrne purchased 4,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $76.05 per share, for a total transaction of $342,225.00. Following the acquisition, the director owned 7,696 shares of the company's stock, valued at approximately $585,280.80. The trade was a 140.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 52,100 shares of company stock worth $3,631,607 in the last 90 days. Insiders own 0.17% of the company's stock.

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.

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