International Flavors & Fragrances Inc. (NYSE:IFF) Stock Holdings Trimmed by abrdn plc

abrdn plc lowered its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,286 shares of the specialty chemicals company’s stock after selling 12,955 shares during the period. abrdn plc owned approximately 0.12% of International Flavors & Fragrances worth $26,160,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its stake in shares of International Flavors & Fragrances by 25.7% in the 4th quarter. Nordea Investment Management AB now owns 5,489,741 shares of the specialty chemicals company’s stock worth $464,926,000 after buying an additional 1,121,414 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of International Flavors & Fragrances by 70.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 708,081 shares of the specialty chemicals company’s stock worth $74,299,000 after purchasing an additional 293,760 shares during the period. Smith Group Asset Management LLC acquired a new stake in shares of International Flavors & Fragrances during the third quarter worth $22,399,000. State Street Corp raised its position in shares of International Flavors & Fragrances by 1.9% during the third quarter. State Street Corp now owns 10,467,517 shares of the specialty chemicals company’s stock worth $1,102,363,000 after purchasing an additional 196,696 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of International Flavors & Fragrances during the third quarter worth $19,813,000. Institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IFF. UBS Group lifted their price target on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Morgan Stanley upgraded International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $111.00 to $110.00 in a research note on Tuesday, November 12th. Bank of America upgraded International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 target price on the stock in a research note on Friday, November 8th. Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Finally, Barclays lowered their target price on International Flavors & Fragrances from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.77.

Insider Activity

In related news, insider Yuvraj Arora sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $91.75, for a total transaction of $458,750.00. Following the sale, the insider now directly owns 3,238 shares in the company, valued at $297,086.50. This represents a 60.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

International Flavors & Fragrances Trading Up 0.6 %

IFF stock opened at $86.12 on Thursday. International Flavors & Fragrances Inc. has a 1-year low of $72.94 and a 1-year high of $106.77. The firm has a market cap of $22.02 billion, a P/E ratio of -9.47, a P/E/G ratio of 1.54 and a beta of 1.19. The business’s 50 day moving average is $85.96 and its 200-day moving average is $94.59. The company has a current ratio of 2.62, a quick ratio of 1.93 and a debt-to-equity ratio of 0.58.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46). International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.15 earnings per share for the current fiscal year.

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.