Swedbank AB Acquires 13,821 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Swedbank AB increased its stake in International Flavors & Fragrances Inc. by 6.6%, owning approximately 0.09% of the company valued at $16.43 million as of its latest SEC filing.
• Several hedge funds, including Horizon Investments LLC and Geneos Wealth Management Inc., also boosted their positions in the company, bringing institutional ownership to around 96.02%.
• The company announced a quarterly dividend of $0.40 per share, payable on October 10th, representing a 2.5% yield based on the current stock price.

Swedbank AB increased its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 6.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 223,324 shares of the specialty chemicals company's stock after acquiring an additional 13,821 shares during the quarter. Swedbank AB owned approximately 0.09% of International Flavors & Fragrances worth $16,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of International Flavors & Fragrances by 23.6% in the fourth quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock worth $30,529,000 after buying an additional 68,970 shares during the period. Vise Technologies Inc. acquired a new position in International Flavors & Fragrances in the 4th quarter worth approximately $225,000. Neo Ivy Capital Management acquired a new stake in International Flavors & Fragrances during the 4th quarter valued at $1,358,000. Toronto Dominion Bank lifted its holdings in shares of International Flavors & Fragrances by 8.3% in the fourth quarter. Toronto Dominion Bank now owns 136,779 shares of the specialty chemicals company's stock valued at $11,565,000 after purchasing an additional 10,522 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of International Flavors & Fragrances in the fourth quarter worth $415,000. Institutional investors and hedge funds own 96.02% of the company's stock.

International Flavors & Fragrances Price Performance

IFF stock traded up $0.10 during trading on Tuesday, hitting $62.30. 657,807 shares of the stock traded hands, compared to its average volume of 1,860,187. 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 $15.97 billion, a price-to-earnings ratio of -40.19, a P/E/G ratio of 2.75 and a beta of 1.07. International Flavors & Fragrances Inc. has a one year low of $62.17 and a one year high of $106.77. The company has a 50 day simple moving average of $68.25 and a 200 day simple moving average of $73.31.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its 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. The company 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%. International Flavors & Fragrances's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Equities analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's payout ratio is currently -103.23%.

Insider Transactions at International Flavors & Fragrances

In related news, Director Paul J. Fribourg acquired 15,450 shares of the stock in a transaction on Thursday, August 7th. The stock was purchased at an average price of $64.80 per share, for a total transaction of $1,001,160.00. Following the transaction, the director owned 15,450 shares of the company's stock, valued at $1,001,160. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Erik Fyrwald bought 15,300 shares of International Flavors & Fragrances stock in a transaction dated Thursday, August 7th. The shares were bought at an average price of $64.95 per share, for a total transaction of $993,735.00. Following the completion of the transaction, the chief executive officer directly owned 77,370 shares of the company's stock, valued at $5,025,181.50. This represents a 24.65% increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IFF has been the subject of several research analyst reports. Morgan Stanley reduced their price objective on International Flavors & Fragrances from $92.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday. Barclays reduced their price target 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. Wells Fargo & Company dropped their price target on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. BNP Paribas Exane lowered their target price on International Flavors & Fragrances from $96.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, September 11th. Finally, Tigress Financial reaffirmed a "buy" rating and set a $105.00 price target on shares of International Flavors & Fragrances in a research note on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.80.

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.