State of New Jersey Common Pension Fund D Has $6.73 Million Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• The State of New Jersey Common Pension Fund D has decreased its holdings in International Flavors & Fragrances Inc. by 7.3%, owning 86,712 shares worth $6.73 million after selling 6,785 shares.
• Multiple institutional investors, including American Century Companies Inc. and Ethic Inc., have increased their stakes in the specialty chemicals company, indicating ongoing investor interest.
• The company reported a earnings per share (EPS) of $1.15 for the last quarter, surpassing analyst expectations, while also announcing a quarterly dividend of $0.40 per share scheduled for October 10th.

State of New Jersey Common Pension Fund D lessened its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,712 shares of the specialty chemicals company's stock after selling 6,785 shares during the period. State of New Jersey Common Pension Fund D's holdings in International Flavors & Fragrances were worth $6,730,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. American Century Companies Inc. raised its stake in shares of International Flavors & Fragrances by 6.5% in the 1st quarter. American Century Companies Inc. now owns 89,531 shares of the specialty chemicals company's stock valued at $6,949,000 after acquiring an additional 5,477 shares during the period. Ethic Inc. increased its stake in International Flavors & Fragrances by 13.2% during the 1st quarter. Ethic Inc. now owns 47,612 shares of the specialty chemicals company's stock worth $3,687,000 after buying an additional 5,567 shares during the period. Horizon Investments LLC increased its stake in International Flavors & Fragrances by 4.9% during the 1st quarter. Horizon Investments LLC now owns 3,671 shares of the specialty chemicals company's stock worth $285,000 after buying an additional 172 shares during the period. Fox Run Management L.L.C. increased its stake in International Flavors & Fragrances by 190.9% during the 1st quarter. Fox Run Management L.L.C. now owns 9,951 shares of the specialty chemicals company's stock worth $772,000 after buying an additional 6,530 shares during the period. Finally, Sei Investments Co. increased its stake in International Flavors & Fragrances by 1.1% during the 1st quarter. Sei Investments Co. now owns 176,661 shares of the specialty chemicals company's stock worth $14,794,000 after buying an additional 1,990 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF traded up $1.7890 during midday trading on Friday, reaching $67.9190. The company's stock had a trading volume of 2,293,773 shares, compared to its average volume of 2,501,344. 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 $72.32 and a 200 day moving average price of $75.96. International Flavors & Fragrances Inc. has a one year low of $62.33 and a one year high of $106.77. The company has a market cap of $17.41 billion, a price-to-earnings ratio of -43.82, a price-to-earnings-growth ratio of 2.86 and a beta of 1.04.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.04. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The firm's revenue was down 4.3% compared to the same quarter last year. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.40 per share. The ex-dividend date 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 payout ratio is currently -103.23%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Barclays dropped their target price on shares of International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Robert W. Baird dropped their target price on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Oppenheimer downgraded shares of International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. Finally, Citigroup boosted their target price 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $92.36.

Insider Buying and Selling

In other news, CEO J Erik Fyrwald acquired 15,300 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average cost of $64.95 per share, with a total value of $993,735.00. Following the acquisition, the chief executive officer owned 77,370 shares in the company, valued at approximately $5,025,181.50. This represents a 24.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Fribourg acquired 15,450 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $64.80 per share, with a total value of $1,001,160.00. Following the completion of the acquisition, the director owned 15,450 shares in the company, valued at $1,001,160. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

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.