Raymond James Financial Inc. Has $8.50 Million Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• Raymond James Financial Inc. has reduced its stake in International Flavors & Fragrances Inc. by 7.1%, owning 109,488 shares worth approximately $8.5 million as of its latest SEC filing.
• Institutional investors and hedge funds collectively own 96.02% of the company's stock, indicating strong institutional confidence in International Flavors & Fragrances.
• The company recently announced a quarterly dividend of $0.40 per share, resulting in an annualized dividend of $1.60 and a yield of 2.4%.

Raymond James Financial Inc. lessened its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 7.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,488 shares of the specialty chemicals company's stock after selling 8,331 shares during the quarter. Raymond James Financial Inc.'s holdings in International Flavors & Fragrances were worth $8,497,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in 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 worth $2,358,571,000 after buying an additional 171,281 shares during the last quarter. Freemont Capital Pte Ltd bought a new position in International Flavors & Fragrances during the 4th quarter worth approximately $2,143,882,000. First Pacific Advisors LP lifted its holdings in shares of 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 worth $315,258,000 after purchasing an additional 32,302 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of International Flavors & Fragrances by 15.3% in the 1st quarter. Invesco Ltd. now owns 2,992,437 shares of the specialty chemicals company's stock worth $232,243,000 after purchasing an additional 397,327 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $122,447,000 after purchasing an additional 32,005 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg acquired 15,450 shares of International Flavors & Fragrances stock in a transaction that occurred 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 completion of the transaction, the director owned 15,450 shares in the company, valued at approximately $1,001,160. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Erik Fyrwald acquired 15,300 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $64.95 per share, with a total value of $993,735.00. Following the transaction, the chief executive officer owned 77,370 shares of the company's stock, valued at approximately $5,025,181.50. The trade was a 24.65% increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IFF shares. Barclays cut their price target on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Oppenheimer downgraded International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Morgan Stanley lowered their target price on 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. Wells Fargo & Company lowered 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, August 7th. Finally, UBS Group lowered their target price on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $92.36.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF traded down $0.95 during mid-day trading on Wednesday, reaching $65.60. The company had a trading volume of 1,815,162 shares, compared to its average volume of 2,383,648. 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 stock has a market cap of $16.81 billion, a PE ratio of -42.32, a P/E/G ratio of 2.92 and a beta of 1.07. The company has a 50-day moving average price of $71.06 and a two-hundred day moving average price of $74.94. International Flavors & Fragrances Inc. has a 1-year low of $62.33 and a 1-year 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 (EPS) for the quarter, topping 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 company's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given 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 presently -103.23%.

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.