Woodline Partners LP Buys 228,313 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Woodline Partners LP increased its stake in International Flavors & Fragrances Inc. by 236.6%, owning a total of 324,797 shares valued at approximately $25.2 million.
• Several institutional investors, including Dodge & Cox and GAMMA Investing LLC, significantly increased their holdings in the company during the 1st quarter, leading to 96.02% of the company's stock being owned by institutional investors.
• The company reported $1.15 EPS for the quarter, beating estimates, but noted a 4.3% decline in revenue compared to the same period last year.

Woodline Partners LP grew its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 236.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,797 shares of the specialty chemicals company's stock after purchasing an additional 228,313 shares during the quarter. Woodline Partners LP owned approximately 0.13% of International Flavors & Fragrances worth $25,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IFF. Dodge & Cox grew its holdings in International Flavors & Fragrances by 7.4% in the 1st quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company's stock valued at $2,621,247,000 after buying an additional 2,336,844 shares in the last quarter. Nuveen LLC acquired a new position in International Flavors & Fragrances in the 1st quarter valued at $57,324,000. GAMMA Investing LLC grew its holdings in International Flavors & Fragrances by 6,831.5% in the 1st quarter. GAMMA Investing LLC now owns 556,464 shares of the specialty chemicals company's stock valued at $431,870,000 after buying an additional 548,436 shares in the last quarter. Invesco Ltd. grew its holdings in shares of International Flavors & Fragrances by 15.3% during the 1st 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 in the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in shares of International Flavors & Fragrances by 63.5% during 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 in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Paul J. Fribourg bought 15,450 shares of the company's stock in a transaction on Thursday, August 7th. The stock was purchased 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 $1,001,160. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO J Erik Fyrwald acquired 15,300 shares of the stock in a transaction dated Thursday, August 7th. The shares were bought 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. The trade was a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by company insiders.

International Flavors & Fragrances Price Performance

NYSE:IFF traded down $0.67 during trading hours on Friday, hitting $65.68. The company's stock had a trading volume of 1,921,160 shares, compared to its average volume of 1,718,548. The stock has a fifty day simple moving average of $69.71 and a 200-day simple moving average of $74.15. The company has a market capitalization of $16.83 billion, a P/E ratio of -42.37, a PEG ratio of 2.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.12. International Flavors & Fragrances Inc. has a twelve month low of $62.33 and a twelve month high of $106.77.

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, beating the consensus estimate of $1.11 by $0.04. The firm had revenue of $2.76 billion during 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 business's quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company 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 $0.40 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.60 annualized dividend and a yield of 2.4%. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -103.23%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group reduced their target price on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company reduced their target price on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Barclays reduced their target price 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. Tigress Financial reissued a "buy" rating and set a $105.00 target price on shares of International Flavors & Fragrances in a report on Tuesday, August 26th. Finally, Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Twelve investment 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. Based on data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of "Moderate Buy" and an average target price of $92.36.

International Flavors & Fragrances 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.