Sumitomo Mitsui Trust Group Inc. Has $44.50 Million Stock Position in International Flavors & Fragrances Inc. $IFF

Sumitomo Mitsui Trust Group Inc. raised its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 605,062 shares of the specialty chemicals company’s stock after acquiring an additional 13,582 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of International Flavors & Fragrances worth $44,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IFF. Mirae Asset Global Investments Co. Ltd. increased its position in International Flavors & Fragrances by 9.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,920 shares of the specialty chemicals company’s stock valued at $2,365,000 after acquiring an additional 2,779 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in International Flavors & Fragrances by 11.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company’s stock valued at $6,525,000 after acquiring an additional 8,490 shares in the last quarter. KBC Group NV increased its position in International Flavors & Fragrances by 23.6% in the 1st quarter. KBC Group NV now owns 26,546 shares of the specialty chemicals company’s stock valued at $2,060,000 after acquiring an additional 5,062 shares in the last quarter. Amalgamated Bank increased its position in International Flavors & Fragrances by 1.5% in the 1st quarter. Amalgamated Bank now owns 50,078 shares of the specialty chemicals company’s stock valued at $3,887,000 after acquiring an additional 762 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its position in International Flavors & Fragrances by 45.5% in the 1st quarter. WASHINGTON TRUST Co now owns 79,052 shares of the specialty chemicals company’s stock valued at $6,135,000 after acquiring an additional 24,728 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Ratings Changes

IFF has been the subject of several recent research reports. Citigroup dropped their price objective on International Flavors & Fragrances from $82.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 6th. Morgan Stanley dropped their price objective on International Flavors & Fragrances from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, September 22nd. Wells Fargo & Company dropped their price objective on International Flavors & Fragrances from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of International Flavors & Fragrances in a report on Wednesday, October 8th. Finally, Berenberg Bank dropped their price objective on International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating for the company in a report on Monday, September 29th. Thirteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.07.

International Flavors & Fragrances Price Performance

Shares of IFF opened at $65.31 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86. The stock has a 50 day simple moving average of $64.00 and a 200 day simple moving average of $70.78. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $103.08. The firm has a market capitalization of $16.74 billion, a PE ratio of -42.14, a P/E/G ratio of 2.65 and a beta of 1.07.

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

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. International Flavors & Fragrances’s dividend payout ratio is -103.23%.

Insider Buying and Selling

In other news, Director Paul J. Fribourg purchased 15,450 shares of International Flavors & Fragrances stock in a transaction on Thursday, August 7th. The stock was purchased at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the transaction, the director directly owned 15,450 shares in the company, valued at $1,001,160. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed 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 bought at an average cost of $64.95 per share, with a total value of $993,735.00. Following the acquisition, the chief executive officer owned 77,370 shares in the company, valued at $5,025,181.50. The trade was a 24.65% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

About International Flavors & Fragrances

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.