PNC Financial Services Group Inc. Lowers Stock Position in International Flavors & Fragrances Inc. $IFF

PNC Financial Services Group Inc. cut its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,941 shares of the specialty chemicals company’s stock after selling 1,852 shares during the quarter. PNC Financial Services Group Inc.’s holdings in International Flavors & Fragrances were worth $2,717,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IFF. CWM LLC increased its holdings in shares of International Flavors & Fragrances by 10.2% in the 1st quarter. CWM LLC now owns 7,712 shares of the specialty chemicals company’s stock valued at $599,000 after purchasing an additional 715 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of International Flavors & Fragrances by 27.7% during the 1st quarter. Victory Capital Management Inc. now owns 148,671 shares of the specialty chemicals company’s stock valued at $11,538,000 after acquiring an additional 32,252 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of International Flavors & Fragrances by 15.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 7,591 shares of the specialty chemicals company’s stock worth $589,000 after acquiring an additional 990 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of International Flavors & Fragrances by 1.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 81,577 shares of the specialty chemicals company’s stock valued at $6,331,000 after buying an additional 793 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its holdings in International Flavors & Fragrances by 2.5% during the 1st quarter. KLP Kapitalforvaltning AS now owns 86,777 shares of the specialty chemicals company’s stock valued at $6,764,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on IFF. Mizuho reduced their price target on shares of International Flavors & Fragrances from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of International Flavors & Fragrances in a research note on Friday, October 31st. Argus dropped their price target on International Flavors & Fragrances from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. BNP Paribas reduced their price objective on International Flavors & Fragrances from $92.00 to $91.00 in a research report on Monday, September 29th. Finally, Wolfe Research upgraded International Flavors & Fragrances from an “underperform” rating to a “peer perform” rating in a research report on Monday, September 8th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.02.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $66.02 on Wednesday. The company has a market cap of $16.91 billion, a P/E ratio of -42.59, a P/E/G ratio of 2.54 and a beta of 1.04. The business has a fifty day simple moving average of $63.22 and a 200-day simple moving average of $69.52. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $91.65. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.03. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.65 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 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 earnings per share. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, December 19th. International Flavors & Fragrances’s payout ratio is presently -98.77%.

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.