On September 14, 2023, it was reported that Empower Advisory Group LLC has acquired a new stake in International Flavors & Fragrances Inc. (NYSE:IFF). According to the company’s Form 13F filing with the SEC, Empower Advisory Group LLC purchased 113,225 shares of the specialty chemicals company’s stock. The value of this acquisition amounts to approximately $10,258,000.
International Flavors & Fragrances is a renowned company that specializes in producing flavors and fragrances for various industries such as food and beverage, personal care, household products, and pharmaceuticals. The acquisition of shares by Empower Advisory Group LLC suggests confidence in the company’s future prospects and growth potential.
In its most recent earnings report released on August 7th, International Flavors & Fragrances disclosed that it had recorded an earnings per share (EPS) of $0.86 for the quarter. This figure fell short of analysts’ consensus estimates by ($0.24). The company also reported a positive return on equity of 5.91% and a negative net margin of 18.34%. Furthermore, its quarterly revenue stood at $2.90 billion, failing to meet analysts’ expectations of $3.07 billion.
Comparing these results to the previous year’s performance reveals a decline in International Flavors & Fragrances’ quarterly revenue by 12.1% year-over-year. During the corresponding quarter in the prior year, the company had achieved an EPS of $1.54.
Despite these figures indicating some challenges faced by International Flavors & Fragrances in recent times, equities analysts maintain a positive outlook for the company’s future performance. It is projected that it will post an EPS of 3.3 for the current year.
The latest research report on International Flavors & Fragrances from Empower Advisory Group could provide valuable insights into understanding the company’s business model and potential growth opportunities. Investors and individuals interested in the performance of the specialty chemicals industry may find this report to be a valuable resource in making informed decisions.
In conclusion, Empower Advisory Group LLC’s recent acquisition of a stake in International Flavors & Fragrances Inc. highlights investor confidence in the company despite its recent earnings disappointment. The industry will undoubtedly keep an eye on International Flavors & Fragrances’ future performance, as it continues to innovate and adapt to the ever-evolving market demands within the flavors and fragrances sector.
[bs_slider_forecast ticker=”GTLS”]
Hedge Funds Increase Holdings in Specialty Chemicals Company, International Flavors & Fragrances (IFF)
International Flavors & Fragrances (IFF), a specialty chemicals company, has seen some significant modifications in its holdings by various hedge funds in recent months. State Street Corp, for instance, increased its holdings by 26.9% during the first quarter, now owning over 13 million shares valued at $1.2 billion. Price T Rowe Associates Inc. MD also boosted its ownership by 59.2% in the fourth quarter, acquiring an additional 2.8 million shares valued at $814.9 million.
Sachem Head Capital Management LP and Amundi also increased their stakes in IFF during the first and fourth quarter respectively, with each holding millions of shares in the company worth hundreds of millions of dollars. Geode Capital Management LLC witnessed a more modest increase of 2.3% in the first quarter, acquiring over 116,000 additional shares.
Institutional investors and hedge funds currently own approximately 89.52% of IFF’s stock, indicating a high level of investment interest in this particular specialty chemicals company.
On September 14, 2023, shares of IFF opened at $67.53 on the New York Stock Exchange (NYSE). The company’s stock has experienced a wide range over the past twelve months, with a low of $62.11 and a high of $118.34. Currently, IFF has a market capitalization of $17.24 billion and exhibits a price-to-earnings (PE) ratio of -7.91 as well as a PEG ratio of 5.49.
The company’s moving averages show that it has been trading around $73.96 for the past fifty days and around $81.91 for the past two hundred days.
Regarding dividends, IFF recently announced that it will be paying out a quarterly dividend to shareholders on October 5th. Investors who hold shares as of September 22nd will receive a $0.81 dividend. Based on this, the annualized dividend for IFF is $3.24, resulting in a yield of 4.80%. The company’s payout ratio currently stands at -37.94%.
Recent research reports have shed light on IFF’s performance, with Deutsche Bank Aktiengesellschaft lowering its target price from $110 to $85 and reiterating a “buy” rating on the stock. Morgan Stanley lowered its rating from “overweight” to “equal weight,” along with reducing the price objective from $112 to $75.
Barclays also lowered its price objective, from $75 to $60, while assigning an “underweight” rating for the company. On the other hand, Wells Fargo & Company decreased its target price but remained positive about IFF, lowering it from $93 to $80 and maintaining an “overweight” rating.
Another research report worth noting is Robert W. Baird’s decrease in target price from $106 to $75. The overall consensus rating based on Bloomberg.com data suggests that IFF is currently a “Hold,” with an average price target of $79.86.
While it appears that some analysts are bearish about IFF’s stock value and future prospects, it remains to be seen how these modifications in holdings and various evaluations will impact the company going forward.+
