Tectonic Advisors LLC Lowers Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• Tectonic Advisors LLC reduced its stake in International Flavors & Fragrances Inc. by 45.8%, holding 6,997 shares amounting to $515,000 after selling 5,908 shares during the second quarter.
• Analyst ratings indicate a consensus of buy ratings from thirteen analysts, with an average price target set at $87.57, though several firms have recently lowered their target prices for the stock.
• Corporate insiders, including Director Paul J. Fribourg and CEO J Erik Fyrwald, made significant purchases of the company's stock, indicating confidence in its future performance.

Tectonic Advisors LLC decreased its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 45.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,997 shares of the specialty chemicals company's stock after selling 5,908 shares during the quarter. Tectonic Advisors LLC's holdings in International Flavors & Fragrances were worth $515,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of IFF. Dodge & Cox boosted its stake in shares of International Flavors & Fragrances by 7.4% in the first quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company's stock worth $2,621,247,000 after buying an additional 2,336,844 shares during the last quarter. Nuveen LLC purchased a new stake in shares of International Flavors & Fragrances in the first quarter worth about $57,324,000. Invesco Ltd. boosted its stake in shares of International Flavors & Fragrances by 15.3% in the first quarter. Invesco Ltd. now owns 2,992,437 shares of the specialty chemicals company's stock worth $232,243,000 after buying an additional 397,327 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in International Flavors & Fragrances by 63.5% in the 1st quarter. Alyeska Investment Group L.P. now owns 929,069 shares of the specialty chemicals company's stock worth $72,105,000 after purchasing an additional 360,870 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in International Flavors & Fragrances in the 1st quarter worth about $21,983,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analyst Ratings Changes

IFF has been the subject of a number of research analyst reports. Citigroup reduced their target price on International Flavors & Fragrances from $82.00 to $75.00 and set a "buy" rating for the company in a report on Monday, October 6th. Morgan Stanley reduced their target price on International Flavors & Fragrances from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, September 22nd. BNP Paribas Exane reduced their target price on International Flavors & Fragrances from $96.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, September 11th. Mizuho reduced their target price on International Flavors & Fragrances from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, October 3rd. Finally, Wolfe Research raised International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a report on Monday, September 8th. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $87.57.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg acquired 15,450 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average cost of $64.80 per share, for a total transaction of $1,001,160.00. Following the completion of the transaction, the director owned 15,450 shares of the company's stock, valued at approximately $1,001,160. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO J Erik Fyrwald acquired 15,300 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average price of $64.95 per share, with a total value 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 trade represents a 24.65% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company's stock.

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $59.59 on Friday. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $106.77. 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 stock has a market cap of $15.27 billion, a PE ratio of -38.45, a P/E/G ratio of 2.61 and a beta of 1.07. The stock has a 50 day moving average price of $64.49 and a 200 day moving average price of $71.63.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS 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 during the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 29th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, September 29th. International Flavors & Fragrances's dividend payout ratio is presently -103.23%.

About International Flavors & Fragrances

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.

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