Truist Financial Corp Buys 21,372 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Posted by on Aug 9th, 2023

Truist Financial Corp increased its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 13.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 175,708 shares of the specialty chemicals company’s stock after purchasing an additional 21,372 shares during the quarter. Truist Financial Corp owned 0.07% of International Flavors & Fragrances worth $16,158,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Covestor Ltd increased its position in shares of International Flavors & Fragrances by 48.8% during the 1st quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 80 shares during the last quarter. Clear Street Markets LLC purchased a new position in International Flavors & Fragrances during the 4th quarter valued at $27,000. Penserra Capital Management LLC purchased a new position in International Flavors & Fragrances during the 4th quarter valued at $31,000. First Horizon Advisors Inc. boosted its holdings in International Flavors & Fragrances by 395.7% during the 4th quarter. First Horizon Advisors Inc. now owns 347 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 277 shares during the period. Finally, Glassman Wealth Services boosted its holdings in International Flavors & Fragrances by 64.8% during the 4th quarter. Glassman Wealth Services now owns 374 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 147 shares during the period. Institutional investors own 90.67% of the company’s stock.

International Flavors & Fragrances Stock Down 19.4 %

Shares of IFF stock opened at $64.78 on Wednesday. The stock’s 50-day simple moving average is $80.32 and its 200-day simple moving average is $88.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.53. The firm has a market capitalization of $16.52 billion, a PE ratio of -7.59, a P/E/G ratio of 4.62 and a beta of 1.09. International Flavors & Fragrances Inc. has a fifty-two week low of $62.28 and a fifty-two week high of $127.63.

International Flavors & Fragrances (NYSE:IFF – Get Free Report) last posted its earnings results on Monday, August 7th. The specialty chemicals company reported $0.86 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.24). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $3.07 billion. International Flavors & Fragrances had a positive return on equity of 5.92% and a negative net margin of 18.34%. The firm’s revenue was down 12.1% on a year-over-year basis. During the same period last year, the business earned $1.54 earnings per share. Equities analysts expect that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 22nd will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 5.00%. The ex-dividend date is Thursday, September 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is -37.94%.

Insider Buying and Selling

In related news, insider De Villeplee Christoph Fauchon sold 1,972 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $785,180.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IFF has been the subject of several research reports. Wells Fargo & Company lowered their target price on International Flavors & Fragrances from $93.00 to $80.00 in a report on Wednesday. Stifel Nicolaus cut International Flavors & Fragrances from a “buy” rating to a “hold” rating and lowered their target price for the stock from $123.00 to $85.00 in a report on Tuesday. Societe Generale cut International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research note on Tuesday. Credit Suisse Group decreased their price objective on International Flavors & Fragrances from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, StockNews.com started coverage on International Flavors & Fragrances in a research note on Thursday, May 18th. They set a “sell” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, International Flavors & Fragrances presently has an average rating of “Hold” and an average target price of $89.57.

Get Our Latest Stock Analysis on IFF

About International Flavors & Fragrances

(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.

Featured Stories

Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

Receive News & Ratings for International Flavors & Fragrances Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Flavors & Fragrances and related companies with MarketBeat.com's FREE daily email newsletter.