Wealth Enhancement Advisory Services LLC Cuts Stock Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in International Flavors & Fragrances Inc. by 15.6%, holding 41,403 shares valued at $3,160,000 after selling 7,659 shares in the second quarter.
• CEO J Erik Fyrwald purchased 15,300 shares at $64.95 per share, increasing his ownership by 24.65%, while director Paul J. Fribourg also bought 15,450 shares at $64.80.
• International Flavors & Fragrances reported earnings of $1.15 per share, beating estimates and showing a decline in revenue of 4.3% year-over-year, alongside a recently announced quarterly dividend of $0.40 per share.

Wealth Enhancement Advisory Services LLC lowered its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 15.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,403 shares of the specialty chemicals company's stock after selling 7,659 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in International Flavors & Fragrances were worth $3,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Dodge & Cox boosted its position in 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 purchasing an additional 2,336,844 shares during the last quarter. Vanguard Group Inc. boosted its position in International Flavors & Fragrances by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,390,040 shares of the specialty chemicals company's stock worth $2,358,571,000 after purchasing an additional 171,281 shares during the last quarter. First Pacific Advisors LP boosted its position in International Flavors & Fragrances by 0.8% in the first quarter. First Pacific Advisors LP now owns 4,062,075 shares of the specialty chemicals company's stock worth $315,258,000 after purchasing an additional 32,302 shares during the last quarter. Invesco Ltd. boosted its position in 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 purchasing an additional 397,327 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of International Flavors & Fragrances by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,577,723 shares of the specialty chemicals company's stock valued at $122,447,000 after buying an additional 32,005 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Activity

In other International Flavors & Fragrances news, CEO J Erik Fyrwald bought 15,300 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average cost 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 in the company, valued at $5,025,181.50. This represents a 24.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul J. Fribourg bought 15,450 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the completion of the transaction, the director owned 15,450 shares of the company's stock, valued at $1,001,160. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $60.74 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86. International Flavors & Fragrances Inc. has a 52-week low of $60.13 and a 52-week high of $106.77. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of -39.18, a PEG ratio of 2.61 and a beta of 1.07. The business's fifty day moving average is $67.19 and its 200 day moving average is $72.89.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 7.95% and a negative net margin of 3.48%.The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company posted $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. Research analysts predict that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors 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 2.6%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's payout ratio is presently -103.23%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wolfe Research upgraded International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday, September 8th. 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. Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Wells Fargo & Company lowered their target price on 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. Finally, Barclays lowered their target price on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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