Royal Bank of Canada Has $32.88 Million Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Royal Bank of Canada increased its stake in International Flavors & Fragrances Inc. by 17.3%, acquiring an additional 62,585 shares, bringing their total holdings to 423,658 shares valued at $32.88 million.
• The company reported a quarterly revenue of $2.76 billion, exceeding analyst estimates, though it experienced a 4.3% decline in revenue compared to the same quarter last year.
• International Flavors & Fragrances announced a quarterly dividend of $0.40 per share, representing an annualized yield of 2.4%, with a dividend payout ratio of -103.23% indicating that it is paying out more than it is earning.

Royal Bank of Canada raised its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 17.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 423,658 shares of the specialty chemicals company's stock after acquiring an additional 62,585 shares during the period. Royal Bank of Canada owned about 0.17% of International Flavors & Fragrances worth $32,881,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Horizon Investments LLC grew its position in International Flavors & Fragrances by 4.9% in the first quarter. Horizon Investments LLC now owns 3,671 shares of the specialty chemicals company's stock valued at $285,000 after acquiring an additional 172 shares during the period. GM Advisory Group LLC grew its position in International Flavors & Fragrances by 2.6% in the first quarter. GM Advisory Group LLC now owns 7,952 shares of the specialty chemicals company's stock valued at $617,000 after acquiring an additional 202 shares during the period. Byrne Asset Management LLC grew its position in International Flavors & Fragrances by 3.3% in the first quarter. Byrne Asset Management LLC now owns 6,637 shares of the specialty chemicals company's stock valued at $515,000 after acquiring an additional 210 shares during the period. Channing Global Advisors LLC grew its holdings in shares of International Flavors & Fragrances by 0.5% during the first quarter. Channing Global Advisors LLC now owns 46,234 shares of the specialty chemicals company's stock worth $3,588,000 after purchasing an additional 226 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in shares of International Flavors & Fragrances by 6.3% during the first quarter. Forum Financial Management LP now owns 4,154 shares of the specialty chemicals company's stock worth $322,000 after purchasing an additional 247 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Tigress Financial restated a "buy" rating and set a $105.00 target price on shares of International Flavors & Fragrances in a report on Tuesday, August 26th. UBS Group decreased their target price on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Barclays decreased their target price 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. Wells Fargo & Company decreased their target price on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Oppenheimer cut International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $92.36.

International Flavors & Fragrances Trading Down 1.0%

NYSE:IFF traded down $0.67 during mid-day trading on Friday, hitting $65.68. The company had a trading volume of 1,921,160 shares, compared to its average volume of 1,718,548. International Flavors & Fragrances Inc. has a fifty-two week low of $62.33 and a fifty-two week high of $106.77. The business's fifty day moving average is $69.71 and its two-hundred day moving average is $74.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86. The firm has a market cap of $16.83 billion, a P/E ratio of -42.37, a P/E/G ratio of 2.87 and a beta of 1.07.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share 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 firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company's quarterly revenue was down 4.3% on a year-over-year basis. International Flavors & Fragrances has set its FY 2025 guidance at EPS. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 dividend yield of 2.4%. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -103.23%.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 15,450 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were bought 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 directly owned 15,450 shares in the company, valued at $1,001,160. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Erik Fyrwald purchased 15,300 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $64.95 per share, for a total transaction of $993,735.00. Following the transaction, the chief executive officer owned 77,370 shares of the company's stock, 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. Company insiders own 0.20% of the company's stock.

International Flavors & Fragrances Company 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.