Elevation Point Wealth Partners LLC Purchases 3,674 Shares of International Flavors & Fragrances Inc. $IFF

Elevation Point Wealth Partners LLC boosted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 46.1% in the second quarter, Holdings Channel reports. The firm owned 11,644 shares of the specialty chemicals company’s stock after purchasing an additional 3,674 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in International Flavors & Fragrances were worth $856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IFF. First Eagle Investment Management LLC raised its position in International Flavors & Fragrances by 122.1% during the second quarter. First Eagle Investment Management LLC now owns 5,441,094 shares of the specialty chemicals company’s stock worth $400,192,000 after acquiring an additional 2,991,405 shares in the last quarter. Dodge & Cox lifted its holdings in shares of International Flavors & Fragrances by 7.4% during the first quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company’s stock worth $2,621,247,000 after buying an additional 2,336,844 shares in the last quarter. Nuveen LLC bought a new position in shares of International Flavors & Fragrances during the first quarter worth approximately $57,324,000. Vanguard Group Inc. lifted its position in shares of International Flavors & Fragrances by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 30,880,203 shares of the specialty chemicals company’s stock valued at $2,271,239,000 after acquiring an additional 490,163 shares during the period. Finally, Invesco Ltd. grew its stake in International Flavors & Fragrances by 15.3% during the first quarter. Invesco Ltd. now owns 2,992,437 shares of the specialty chemicals company’s stock worth $232,243,000 after buying an additional 397,327 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IFF. Barclays boosted their target price on International Flavors & Fragrances from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. BNP Paribas Exane cut their target price on International Flavors & Fragrances from $96.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. Bank of America dropped their price objective on shares of International Flavors & Fragrances from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Oppenheimer cut International Flavors & Fragrances from an “outperform” rating to a “market perform” rating in a report on Thursday, August 7th. Finally, Citigroup decreased 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. Twelve research 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 data from MarketBeat, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and an average price target of $85.02.

International Flavors & Fragrances Stock Up 0.9%

IFF opened at $69.83 on Friday. The company has a market cap of $17.88 billion, a PE ratio of -45.05, a price-to-earnings-growth ratio of 2.54 and a beta of 1.04. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $91.65. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $63.65 and a 200 day moving average of $69.21.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, November 4th. The specialty chemicals company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.02 by $0.03. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.65 billion. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. International Flavors & Fragrances’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 earnings per share. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -98.77%.

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.