Vanguard Group Inc. Boosts Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Key Points

• Vanguard Group Inc. increased its stake in International Flavors & Fragrances Inc. by 0.6%, now owning approximately 30.39 million shares, valued at $2.36 billion as of its recent SEC filing.
• International Flavors & Fragrances reported earnings of $1.15 per share, exceeding estimates, but experienced a 4.3% decline in quarterly revenue compared to the previous year.
• The company declared a quarterly dividend of $0.40 per share, with a yield of 2.5%, despite a dividend payout ratio of -103.23%.

Vanguard Group Inc. increased its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,390,040 shares of the specialty chemicals company's stock after purchasing an additional 171,281 shares during the period. Vanguard Group Inc. owned approximately 11.88% of International Flavors & Fragrances worth $2,358,571,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in International Flavors & Fragrances by 11.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock valued at $6,525,000 after buying an additional 8,490 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of International Flavors & Fragrances during the 1st quarter worth approximately $1,271,000. Royal Bank of Canada increased its holdings in shares of International Flavors & Fragrances by 23.6% during the 4th quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock worth $30,529,000 after acquiring an additional 68,970 shares during the last quarter. Chicago Capital LLC acquired a new stake in International Flavors & Fragrances during the first quarter worth about $688,000. Finally, Achmea Investment Management B.V. lifted its position in shares of International Flavors & Fragrances by 126.1% during the 1st quarter. Achmea Investment Management B.V. now owns 29,344 shares of the specialty chemicals company's stock worth $2,277,000 after buying an additional 16,368 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Kevin O'byrne purchased 4,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $76.05 per share, for a total transaction of $342,225.00. Following the purchase, the director directly owned 7,696 shares in the company, valued at approximately $585,280.80. This trade represents a 140.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Erik Fyrwald acquired 15,300 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $64.95 per share, for a total transaction of $993,735.00. Following the completion of the acquisition, the chief executive officer owned 77,370 shares in the company, valued at $5,025,181.50. The trade was a 24.65% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 52,100 shares of company stock worth $3,631,607. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IFF has been the subject of a number of recent research reports. Tigress Financial started coverage on International Flavors & Fragrances in a report on Wednesday, June 4th. They issued a "buy" rating and a $105.00 target price for the company. Barclays dropped their price target 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. Citigroup lifted their price target on International Flavors & Fragrances from $84.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Mizuho cut their price objective on International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley dropped their price objective on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $92.36.

International Flavors & Fragrances Stock Performance

NYSE IFF traded up $1.06 on Wednesday, hitting $65.60. 962,910 shares of the company traded hands, compared to its average volume of 1,805,452. The business's 50 day moving average price is $74.17 and its 200-day moving average price is $77.03. International Flavors & Fragrances Inc. has a 52-week low of $62.33 and a 52-week high of $106.77. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of -42.34, a P/E/G ratio of 2.75 and a beta of 1.04. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its 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. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.69 billion. International Flavors & Fragrances had a positive return on equity of 7.95% and a negative net margin of 3.48%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. Equities analysts expect 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 announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a dividend of $0.40 per share. 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 dividend payout ratio (DPR) is -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.