Nordea Investment Management AB Sells 3,835,616 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Nordea Investment Management AB sold 3,835,616 shares of International Flavors & Fragrances Inc. (NYSE:IFF), reducing its stake by 63.5%, leaving it with about 2.2 million shares valued at $163.2 million.
• The company reported $1.15 EPS for the last quarter, exceeding analysts' expectations of $1.11, and its revenue for the quarter was $2.76 billion.
• International Flavors & Fragrances declared a quarterly dividend of $0.40 per share with an annual yield of 2.5%, although it displayed a negative payout ratio of -103.23%.

Nordea Investment Management AB reduced its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 63.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,205,415 shares of the specialty chemicals company's stock after selling 3,835,616 shares during the period. Nordea Investment Management AB owned approximately 0.86% of International Flavors & Fragrances worth $163,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in International Flavors & Fragrances by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,577,723 shares of the specialty chemicals company's stock valued at $122,447,000 after acquiring an additional 32,005 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in International Flavors & Fragrances by 11.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock valued at $6,525,000 after acquiring an additional 8,490 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of International Flavors & Fragrances in the 1st quarter worth about $1,271,000. Dodge & Cox raised its position in shares of International Flavors & Fragrances by 7.4% during the 1st quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company's stock valued at $2,621,247,000 after buying an additional 2,336,844 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its holdings 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 valued at $2,277,000 after acquiring an additional 16,368 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Paul J. Fribourg acquired 15,450 shares of the stock in a transaction on Thursday, August 7th. The stock was bought at an average cost 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 represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO J Erik Fyrwald acquired 15,300 shares of the stock in a transaction on Thursday, August 7th. The stock was bought at an average cost of $64.95 per share, with a total value of $993,735.00. Following the completion of the transaction, the chief executive officer owned 77,370 shares in the company, valued at $5,025,181.50. This trade represents a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

International Flavors & Fragrances Price Performance

IFF stock opened at $63.84 on Friday. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $105.03. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $64.00 and a 200 day moving average price of $71.09. The stock has a market cap of $16.36 billion, a PE ratio of -41.19, a P/E/G ratio of 2.52 and a beta of 1.07.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.04. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.69 billion. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 EPS. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, September 29th. International Flavors & Fragrances's payout ratio is -103.23%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IFF shares. BNP Paribas lowered their price target on shares of International Flavors & Fragrances from $92.00 to $91.00 in a report on Monday, September 29th. Berenberg Bank lowered their price target on shares of International Flavors & Fragrances from $78.80 to $78.30 and set a "hold" rating for the company in a report on Monday, September 29th. Mizuho lowered their price target on shares of International Flavors & Fragrances from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, October 3rd. Tigress Financial reaffirmed a "buy" rating and issued a $105.00 price target on shares of International Flavors & Fragrances in a report on Tuesday, August 26th. Finally, Bank of America lowered their price target on shares of International Flavors & Fragrances from $84.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $86.07.

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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