Nordea Investment Management AB Sells 3,835,616 Shares of International Flavors & Fragrances Inc. $IFF

Nordea Investment Management AB lowered its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 63.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,205,415 shares of the specialty chemicals company’s stock after selling 3,835,616 shares during the quarter. Nordea Investment Management AB’s holdings in International Flavors & Fragrances were worth $163,223,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Banque Transatlantique SA bought a new stake in shares of International Flavors & Fragrances in the 1st quarter valued at about $32,000. American National Bank & Trust raised its holdings in shares of International Flavors & Fragrances by 11,975.0% in the 2nd quarter. American National Bank & Trust now owns 483 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 479 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of International Flavors & Fragrances during the 1st quarter worth approximately $42,000. Geneos Wealth Management Inc. raised its stake in shares of International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. Finally, Eastern Bank raised its stake in shares of International Flavors & Fragrances by 43.9% during the 2nd quarter. Eastern Bank now owns 633 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 193 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup reduced their price objective on shares of International Flavors & Fragrances from $82.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Flavors & Fragrances in a research note on Wednesday, October 8th. BNP Paribas reduced their price objective on shares of International Flavors & Fragrances from $92.00 to $91.00 in a research note on Monday, September 29th. Tigress Financial reiterated a “buy” rating and set a $105.00 price objective on shares of International Flavors & Fragrances in a research note on Tuesday, August 26th. Finally, Oppenheimer lowered shares of International Flavors & Fragrances from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and an average target price of $86.07.

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Paul J. Fribourg acquired 15,450 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $64.80 per share, for a total transaction of $1,001,160.00. Following the completion of the purchase, the director directly owned 15,450 shares of the company’s stock, valued at $1,001,160. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Erik Fyrwald acquired 15,300 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was acquired at an average price of $64.95 per share, for a total transaction of $993,735.00. Following the purchase, the chief executive officer directly owned 77,370 shares of the company’s stock, valued at approximately $5,025,181.50. This trade represents a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

International Flavors & Fragrances Trading Up 2.0%

Shares of International Flavors & Fragrances stock opened at $63.84 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $105.03. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of -41.19, a PEG ratio of 2.52 and a beta of 1.07. The firm’s 50 day simple moving average is $64.00 and its two-hundred day simple moving average is $71.09.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.04. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the business posted $1.16 EPS. International Flavors & Fragrances’s revenue for the quarter was down 4.3% compared to the same quarter last year. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Analysts predict that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were paid a $0.40 dividend. The ex-dividend date was Monday, September 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. International Flavors & Fragrances’s dividend payout ratio is presently -103.23%.

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.