Bank of New York Mellon Corp Sells 115,445 Shares of International Flavors & Fragrances Inc. $IFF

Bank of New York Mellon Corp lessened its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 6.8% in the second quarter, Holdings Channel reports. The institutional investor owned 1,577,907 shares of the specialty chemicals company’s stock after selling 115,445 shares during the quarter. Bank of New York Mellon Corp’s holdings in International Flavors & Fragrances were worth $116,055,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can grew its stake in International Flavors & Fragrances by 35.2% during the second quarter. Bank of Montreal Can now owns 227,300 shares of the specialty chemicals company’s stock valued at $16,718,000 after acquiring an additional 59,138 shares in the last quarter. South Dakota Investment Council boosted its holdings in International Flavors & Fragrances by 100.0% in the 2nd quarter. South Dakota Investment Council now owns 24,806 shares of the specialty chemicals company’s stock valued at $1,824,000 after purchasing an additional 12,400 shares during the period. State of Michigan Retirement System grew its position in shares of International Flavors & Fragrances by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock valued at $5,113,000 after purchasing an additional 200 shares in the last quarter. Tredje AP fonden increased its holdings in shares of International Flavors & Fragrances by 66.4% in the second quarter. Tredje AP fonden now owns 33,101 shares of the specialty chemicals company’s stock worth $2,435,000 after purchasing an additional 13,208 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in shares of International Flavors & Fragrances in the second quarter worth $405,000. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $61.87 on Friday. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $93.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.12. The business has a 50 day moving average of $63.31 and a 200 day moving average of $70.19. The company has a market capitalization of $15.86 billion, a price-to-earnings ratio of -39.92, a PEG ratio of 2.54 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.02 by $0.03. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the firm posted $1.04 earnings per share. The business’s revenue was down 7.9% compared to the same quarter last year. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be paid a dividend of $0.40 per share. 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 Friday, December 19th. International Flavors & Fragrances’s dividend payout ratio (DPR) is -98.77%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Berenberg Bank decreased their target price on International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating on the stock in a research note on Monday, September 29th. Mizuho cut their price objective 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. Argus lowered their target price on shares of International Flavors & Fragrances from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley cut their price target on shares of International Flavors & Fragrances from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, September 22nd. Finally, Wolfe Research raised shares of International Flavors & Fragrances from an “underperform” rating to a “peer perform” rating in a report on Monday, September 8th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.02.

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.