Shares of International Flavors & Fragrances Inc. (NYSE:IFF) acquired by TD Asset Management Inc.

VaselineSeptember 11, 2024

0 4 minutes read

TD Asset Management Inc increased its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,920 shares of the specialty chemicals company’s stock after acquiring an additional 3,657 shares during the quarter. TD Asset Management Inc’s holdings in International Flavors & Fragrances were worth $9,133,000 at the end of the most recent quarter.

Several other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake in International Flavors & Fragrances by 7.8% in the first quarter. Van ECK Associates Corp now owns 4,778,678 shares of the specialty chemicals company’s stock worth $410,919,000 after buying an additional 344,377 shares in the last quarter. First Pacific Advisors LP boosted its stake in International Flavors & Fragrances by 2.2% during the fourth quarter. First Pacific Advisors LP now owns 3,980,310 shares of the specialty chemicals company’s stock worth $322,286,000 after buying an additional 87,183 shares during the last quarter. Capital International Investors boosted its stake in International Flavors & Fragrances by 1.4% in the fourth quarter. Capital International Investors now owns 2,375,699 shares of the specialty chemicals company’s stock worth $192,360,000 after buying an additional 33,548 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in International Flavors & Fragrances by 9.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,895,581 shares of the specialty chemicals company’s stock valued at $163,003,000 after purchasing an additional 162,179 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its stake in International Flavors & Fragrances by 139.3% in the fourth quarter. Nomura Holdings Inc. now owns 1,372,685 shares of the specialty chemicals company’s stock valued at $111,146,000 after buying an additional 798,946 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s shares.

International trade in flavors and fragrances down 0.6%

Shares of IFF stock opened at $102.81 on Wednesday. The company’s fifty day moving average price is $98.69 and its 200 day moving average price is $92.28. International Flavors & Fragrances Inc. has a 1 year low of $62.28 and a 1 year high of $105.30. The firm has a market cap of $26.25 billion, a PE ratio of -10.52, a P/E/G ratio of 1.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38, and a quick ratio of 1.75.

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International Flavors & Fragrances (NYSE:IFF – Get Free Report ) last posted its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the firm earned $0.86 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts estimate that International Flavors & Fragrances Inc. will post 4.22 EPS for the current fiscal year.

International Flavors and Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 20th will be given a $0.40 dividend. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, September 20. The dividend payout ratio for International Flavors & Fragrances is currently -16.38%.

Analysts on Wall Street are forecasting an increase

A number of equities research analysts have covered the company. Wells Fargo & Company boosted their price objective on International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Citigroup boosted their price objective on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Mizuho upgraded International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $109.00 to $120.00 in a research note on Tuesday. September 3. JPMorgan Chase & Co. boosted their price objective on International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Stifel Nicolaus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $115.00 in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $103.80, according to MarketBeat.com.

Get our latest report on international flavors and fragrances

Insider activity at International Flavors & Fragrances

In related news, insider Angela Strzelecki sold 2,588 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $95.66, for a total transaction of $247,568.08. Following the transaction, the insider now owns 8,539 shares of the company’s stock, valued at $816,840.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this link. Insiders hold 0.20% of the company’s stock.

International Flavors & Fragrances Company Profile

(Free Report)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells active and natural health cosmetic ingredients for use in various consumer products in the United States, Europe and internationally. It operates through four segments: Nutrition, Health & Biosciences, Fragrances and Pharmaceutical Solutions.