Maryland State Retirement & Pension System Has $1.55 Million Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Posted by on Sep 22nd, 2023

Maryland State Retirement & Pension System trimmed its position in International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,494 shares of the specialty chemicals company’s stock after selling 546 shares during the quarter. Maryland State Retirement & Pension System’s holdings in International Flavors & Fragrances were worth $1,552,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IFF. Czech National Bank raised its stake in International Flavors & Fragrances by 0.5% during the second quarter. Czech National Bank now owns 30,197 shares of the specialty chemicals company’s stock worth $2,403,000 after acquiring an additional 161 shares in the last quarter. Sound Income Strategies LLC raised its stake in International Flavors & Fragrances by 39,944.0% during the second quarter. Sound Income Strategies LLC now owns 10,011 shares of the specialty chemicals company’s stock worth $797,000 after acquiring an additional 9,986 shares in the last quarter. Nordea Investment Management AB raised its stake in International Flavors & Fragrances by 10.1% during the second quarter. Nordea Investment Management AB now owns 4,876,979 shares of the specialty chemicals company’s stock worth $382,453,000 after acquiring an additional 446,524 shares in the last quarter. First Hawaiian Bank raised its stake in International Flavors & Fragrances by 21.2% during the second quarter. First Hawaiian Bank now owns 3,510 shares of the specialty chemicals company’s stock worth $279,000 after acquiring an additional 615 shares in the last quarter. Finally, M&R Capital Management Inc. acquired a new position in International Flavors & Fragrances during the second quarter worth $85,000. 89.52% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $68.53 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. International Flavors & Fragrances Inc. has a 12-month low of $62.11 and a 12-month high of $118.34. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of -8.02, a P/E/G ratio of 5.38 and a beta of 1.12. The business’s 50-day simple moving average is $72.63 and its 200 day simple moving average is $80.97.

International Flavors & Fragrances (NYSE:IFF – Get Free Report) last issued its earnings results on Monday, August 7th. The specialty chemicals company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.24). International Flavors & Fragrances had a positive return on equity of 5.91% and a negative net margin of 18.34%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the business posted $1.54 EPS. International Flavors & Fragrances’s quarterly revenue was down 12.1% on a year-over-year basis. As a group, research analysts anticipate that International Flavors & Fragrances Inc. will post 3.3 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Thursday, September 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -37.94%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IFF shares. Credit Suisse Group dropped 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, August 8th. Barclays lowered their target price on International Flavors & Fragrances from $75.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, August 10th. Mizuho lowered their target price on International Flavors & Fragrances from $105.00 to $70.00 in a research note on Thursday, August 10th. UBS Group lowered their target price on International Flavors & Fragrances from $128.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, July 14th. Finally, The Goldman Sachs Group lowered International Flavors & Fragrances from a “buy” rating to a “neutral” rating and lowered their target price for the company from $120.00 to $78.00 in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $79.57.

Check Out Our Latest Stock Analysis on International Flavors & Fragrances

International Flavors & Fragrances 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.

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

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