Invesco Ltd. Has $232.24 Million Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Key Points

• Invesco Ltd. increased its holdings in International Flavors & Fragrances Inc. by 15.3%, owning nearly 3 million shares valued at $232.24 million as of the latest SEC filing.
• The company reported quarterly earnings of $1.15 per share, surpassing analyst expectations, despite a 4.3% decline in revenue compared to the previous year.
• International Flavors & Fragrances announced a quarterly dividend of $0.40 per share, indicating an annualized yield of 2.5%, with a dividend payout ratio currently at -103.23%.

Invesco Ltd. lifted its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,992,437 shares of the specialty chemicals company's stock after acquiring an additional 397,327 shares during the quarter. Invesco Ltd. owned 1.17% of International Flavors & Fragrances worth $232,243,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in International Flavors & Fragrances during the 1st quarter valued at approximately $42,000. Mather Group LLC. boosted its position in International Flavors & Fragrances by 179.9% during the 1st quarter. Mather Group LLC. now owns 655 shares of the specialty chemicals company's stock valued at $51,000 after purchasing an additional 421 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in International Flavors & Fragrances during the 1st quarter valued at approximately $77,000. Quarry LP acquired a new stake in shares of International Flavors & Fragrances in the 4th quarter worth about $78,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of International Flavors & Fragrances by 48.5% in the 1st quarter. Farther Finance Advisors LLC now owns 1,534 shares of the specialty chemicals company's stock worth $119,000 after acquiring an additional 501 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Insider Activity

In other news, Director Kevin O'byrne acquired 4,500 shares of International Flavors & Fragrances stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $76.05 per share, for a total transaction of $342,225.00. Following the transaction, the director owned 7,696 shares of the company's stock, valued at $585,280.80. The trade was a 140.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul J. Fribourg acquired 15,450 shares of International Flavors & Fragrances stock in a transaction on Thursday, August 7th. The stock was purchased at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the transaction, the director directly owned 15,450 shares in the company, valued at approximately $1,001,160. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 48,100 shares of company stock worth $3,330,287 over the last 90 days. Company insiders own 0.20% of the company's stock.

International Flavors & Fragrances Trading Up 0.1%

Shares of International Flavors & Fragrances stock traded up $0.06 on Friday, reaching $65.78. 1,389,246 shares of the company were exchanged, compared to its average volume of 1,816,147. The stock has a fifty day moving average price of $73.73 and a 200-day moving average price of $76.80. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of -42.44, a price-to-earnings-growth ratio of 2.88 and a beta of 1.04. 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 fifty-two week low of $62.33 and a fifty-two week high of $106.77.

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 for the quarter, topping 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 company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm posted $1.16 EPS. The business's revenue was down 4.3% compared to the same quarter last year. On average, analysts expect 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. Investors of record on Monday, September 29th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, September 29th. This represents a $1.60 annualized dividend and a yield of 2.4%. International Flavors & Fragrances's dividend payout ratio is presently -103.23%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays dropped their price objective on shares of International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Morgan Stanley reduced their price target on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price target on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. UBS Group reduced their price target on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently 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.