International Flavors & Fragrances Inc. $IFF Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in International Flavors & Fragrances by 6.2%, owning 81,039 shares worth $6.27 million as of the latest SEC filing.
• The company reported a quarterly revenue of $2.76 billion, surpassing analyst expectations, although it represented a 4.3% decline year-over-year.
• International Flavors & Fragrances announced a quarterly dividend of $0.40 with a yield of 2.4%, to be paid on October 10th to shareholders of record.

Resona Asset Management Co. Ltd. lifted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,039 shares of the specialty chemicals company's stock after buying an additional 4,725 shares during the period. Resona Asset Management Co. Ltd.'s holdings in International Flavors & Fragrances were worth $6,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of International Flavors & Fragrances by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,390,040 shares of the specialty chemicals company's stock valued at $2,358,571,000 after acquiring an additional 171,281 shares during the last quarter. Freemont Capital Pte Ltd purchased a new position in International Flavors & Fragrances during the fourth quarter worth about $2,143,882,000. First Pacific Advisors LP boosted its holdings in International Flavors & Fragrances by 0.8% in the 1st quarter. First Pacific Advisors LP now owns 4,062,075 shares of the specialty chemicals company's stock valued at $315,258,000 after purchasing an additional 32,302 shares during the last quarter. Northern Trust Corp grew its stake in shares of International Flavors & Fragrances by 19.9% in the 4th quarter. Northern Trust Corp now owns 3,407,262 shares of the specialty chemicals company's stock valued at $288,084,000 after buying an additional 565,769 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of International Flavors & Fragrances by 15.3% during the 1st quarter. Invesco Ltd. now owns 2,992,437 shares of the specialty chemicals company's stock worth $232,243,000 after buying an additional 397,327 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on IFF. Oppenheimer cut International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Barclays lowered 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. Morgan Stanley decreased their target price on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Tigress Financial initiated coverage on shares of International Flavors & Fragrances in a research report on Wednesday, June 4th. They set a "buy" rating and a $105.00 price target for the company. Finally, Citigroup increased their price objective on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.36.

International Flavors & Fragrances Stock Performance

Shares of IFF stock traded up $0.50 during mid-day trading on Tuesday, hitting $65.81. 334,726 shares of the stock were exchanged, compared to its average volume of 1,805,748. The stock has a market capitalization of $16.87 billion, a price-to-earnings ratio of -42.40, a P/E/G ratio of 2.85 and a beta of 1.04. International Flavors & Fragrances Inc. has a 12-month low of $62.33 and a 12-month high of $106.77. The stock's fifty day simple moving average is $73.25 and its two-hundred day simple moving average is $76.36. 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 (NYSE:IFF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.69 billion. During the same period last year, the firm earned $1.16 EPS. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio (DPR) is -103.23%.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, CEO J Erik Fyrwald bought 15,300 shares of International Flavors & Fragrances stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $64.95 per share, with a total value of $993,735.00. Following the completion of the acquisition, the chief executive officer 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 Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Fribourg purchased 15,450 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $64.80 per share, with a total value 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 represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 35,250 shares of company stock worth $2,337,120 over the last ninety days. 0.17% of the stock is currently owned by company insiders.

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.