Swedbank AB Purchases 31,428 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Swedbank AB boosted its stake in International Flavors & Fragrances Inc. by 17.6%, acquiring an additional 31,428 shares, bringing its total ownership to approximately $16.26 million.
• International Flavors & Fragrances declared a quarterly dividend of $0.40, which is set to be paid on October 10th, resulting in an annualized yield of 2.4%.
• Wall Street analysts have mixed ratings for the stock, with a consensus average target price of $92.36, supported by twelve buy ratings and one sell rating.

Swedbank AB increased its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 17.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 209,503 shares of the specialty chemicals company's stock after buying an additional 31,428 shares during the period. Swedbank AB owned about 0.08% of International Flavors & Fragrances worth $16,260,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IFF. Banque Transatlantique SA purchased a new position in International Flavors & Fragrances during the first quarter valued at $32,000. Zions Bancorporation National Association UT purchased a new position in International Flavors & Fragrances during the first quarter valued at $42,000. Geneos Wealth Management Inc. grew its stake in International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. Mather Group LLC. grew its stake in International Flavors & Fragrances by 179.9% during the first quarter. Mather Group LLC. now owns 655 shares of the specialty chemicals company's stock valued at $51,000 after acquiring an additional 421 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new position in International Flavors & Fragrances during the first quarter valued at $77,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IFF. Barclays cut 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 note on Friday, August 8th. UBS Group dropped their price objective on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Oppenheimer cut shares of International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Wolfe Research raised shares of International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday, September 8th. Finally, Tigress Financial reissued a "buy" rating and issued a $105.00 price objective on shares of International Flavors & Fragrances in a research note on Tuesday, August 26th. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $92.36.

International Flavors & Fragrances Price Performance

IFF stock opened at $65.68 on Monday. International Flavors & Fragrances Inc. has a 12 month low of $62.33 and a 12 month high of $106.77. 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 $69.71 and a 200 day moving average price of $74.06. The stock has a market cap of $16.83 billion, a PE ratio of -42.37, a P/E/G ratio of 2.84 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. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same period in the previous year, the company earned $1.16 EPS. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. 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 will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's payout ratio is -103.23%.

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. 0.17% 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.

Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc. (NYSE:IFF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.