Korea Investment CORP Sells 35,894 Shares of International Flavors & Fragrances Inc. $IFF

Korea Investment CORP lessened its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 19.7% during the second quarter, Holdings Channel.com reports. The fund owned 146,429 shares of the specialty chemicals company’s stock after selling 35,894 shares during the period. Korea Investment CORP’s holdings in International Flavors & Fragrances were worth $10,770,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in International Flavors & Fragrances by 7.6% during the 2nd quarter. Blue Trust Inc. now owns 2,184 shares of the specialty chemicals company’s stock valued at $161,000 after purchasing an additional 155 shares during the last quarter. Horizon Investments LLC lifted its stake in International Flavors & Fragrances by 4.9% in the first quarter. Horizon Investments LLC now owns 3,671 shares of the specialty chemicals company’s stock worth $285,000 after acquiring an additional 172 shares during the period. UMB Bank n.a. boosted its holdings in International Flavors & Fragrances by 17.3% in the second quarter. UMB Bank n.a. now owns 1,290 shares of the specialty chemicals company’s stock valued at $95,000 after acquiring an additional 190 shares in the last quarter. Eastern Bank increased its position in International Flavors & Fragrances by 43.9% during the 2nd quarter. Eastern Bank now owns 633 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 193 shares during the period. Finally, State of Michigan Retirement System raised its holdings in International Flavors & Fragrances by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock worth $5,113,000 after purchasing an additional 200 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $69.48 on Monday. 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 $91.48. The company has a market cap of $17.79 billion, a price-to-earnings ratio of -44.83, a P/E/G ratio of 2.54 and a beta of 1.04. The business’s fifty day simple moving average is $63.77 and its two-hundred day simple moving average is $69.07.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.65 billion. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 EPS. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, December 19th. International Flavors & Fragrances’s payout ratio is currently -98.77%.

Wall Street Analyst Weigh In

IFF has been the topic of a number of research reports. Argus cut their target price on shares of International Flavors & Fragrances from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Berenberg Bank reduced their target price on International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating on the stock in a report on Monday, September 29th. Barclays raised their target price on International Flavors & Fragrances from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of International Flavors & Fragrances in a research report on Wednesday. Finally, Mizuho lowered their price objective on International Flavors & Fragrances from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.02.

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.