First Trust Direct Indexing L.P. Buys 1,418 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Posted by Defense World Staff on Jul 16th, 2023

First Trust Direct Indexing L.P. boosted its stake in International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 37.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,181 shares of the specialty chemicals company’s stock after purchasing an additional 1,418 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in International Flavors & Fragrances were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. SVB Wealth LLC boosted its stake in International Flavors & Fragrances by 4.0% in the 1st quarter. SVB Wealth LLC now owns 2,077 shares of the specialty chemicals company’s stock worth $273,000 after purchasing an additional 79 shares during the period. Covestor Ltd raised its holdings in shares of International Flavors & Fragrances by 48.8% in the 1st quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 80 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of International Flavors & Fragrances by 2.4% in the 1st quarter. Raymond James Trust N.A. now owns 3,792 shares of the specialty chemicals company’s stock valued at $498,000 after acquiring an additional 90 shares in the last quarter. Spire Wealth Management raised its holdings in shares of International Flavors & Fragrances by 2.3% in the 4th quarter. Spire Wealth Management now owns 4,249 shares of the specialty chemicals company’s stock valued at $445,000 after acquiring an additional 97 shares in the last quarter. Finally, Greenwich Wealth Management LLC raised its holdings in shares of International Flavors & Fragrances by 0.7% in the 1st quarter. Greenwich Wealth Management LLC now owns 15,303 shares of the specialty chemicals company’s stock valued at $1,407,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 90.67% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of IFF stock opened at $80.10 on Friday. The firm has a market cap of $20.43 billion, a P/E ratio of -9.74, a P/E/G ratio of 4.57 and a beta of 1.09. International Flavors & Fragrances Inc. has a fifty-two week low of $75.18 and a fifty-two week high of $129.20. The business’s 50 day moving average price is $80.44 and its 200-day moving average price is $92.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.53.

International Flavors & Fragrances (NYSE:IFF – Get Free Report) last issued its quarterly earnings data on Monday, May 8th. The specialty chemicals company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. International Flavors & Fragrances had a positive return on equity of 6.64% and a negative net margin of 17.12%. International Flavors & Fragrances’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.69 earnings per share. On average, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.64 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Investors of record on Friday, June 23rd were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $3.24 annualized dividend and a dividend yield of 4.04%. International Flavors & Fragrances’s dividend payout ratio is presently -39.42%.

Insider Activity at International Flavors & Fragrances

In related news, insider De Villeplee Christoph Fauchon sold 1,972 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $86.35, for a total transaction of $170,282.20. Following the sale, the insider now directly owns 9,093 shares in the company, valued at $785,180.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on IFF. StockNews.com began coverage on International Flavors & Fragrances in a report on Thursday, May 18th. They set a “sell” rating on the stock. UBS Group decreased their price objective on International Flavors & Fragrances from $128.00 to $116.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley decreased their price objective on International Flavors & Fragrances from $122.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, June 30th. Citigroup began coverage on International Flavors & Fragrances in a report on Tuesday, June 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Barclays decreased their price objective on International Flavors & Fragrances from $81.00 to $75.00 in a report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $111.14.

International Flavors & Fragrances Company Profile

(Free Report)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.