The Vanguard Group, Inc. recently announced the acquisition of new stake in International Flavors & Fragrances Inc. (NYSE:IFF). The institutional investor has increased its shareholding in the Basic Materials company by 1.01% to 30.84 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 12.10% valued currently at $2.87 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.03 million to 13.53 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.04% or 4276.0 shares – to 10.54 million shares.
With over 3.17 million International Flavors & Fragrances Inc. (IFF) shares trading Tuesday and a closing price of $84.21 on the day, the dollar volume was approximately $266.65 million. The shares have shown a negative half year performance of -28.08% and its price on 03/14/23 gained nearly 0.74%. Currently, there are 255.00M common shares owned by the public and among those 254.38M shares have been available to trade.
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Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 43,646 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 19,832 shares.
The top 3 mutual fund holders in International Flavors & Fragrances Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 7.81 million shares of the company’s stock, all valued at over $727.87 million. The company bought an additional 54800.0 shares recently to bring their total holdings to about 3.06% of the shares outstanding. Vanguard Mid Cap Index Fund bought 9549.0 shares to see its total holdings expand to 5.95 million shares valued at over $554.1 million and representing 2.33% of the shares outstanding. Vanguard 500 Index Fund bought 14002.0 shares to bring its total holdings to over 5.91 million shares at a value of $550.59 million. Vanguard 500 Index Fund now owns shares totaling to 2.32% of the shares outstanding.
Shares of International Flavors & Fragrances Inc. (NYSE: IFF) opened at $85.16, up $1.57 from a prior closing price of $83.59. However, the script later moved the day high at 85.81, up 0.74%. The company’s stock has a 5-day price change of -5.46% and -21.49% over the past three months. IFF shares are trading -19.68% year to date (YTD), with the 12-month market performance down to -28.72% lower. It has a 12-month low price of $83.04 and touched a high of $135.17 over the same period. IFF has an average intraday trading volume of 2.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.90%, -18.55%, and -21.94% respectively.
Institutional ownership of International Flavors & Fragrances Inc. (NYSE: IFF) shares accounts for 93.30% of the company’s 255.00M shares outstanding. Mutual fund holders own 45.15%, while other institutional holders and individual stakeholders account for 50.22% and 13.52% respectively.
It has a market capitalization of $21.84B and a beta (3y monthly) value of 1.11. The earnings-per-share (ttm) stands at -$7.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.84% over the week and 2.52% over the month.
Analysts forecast that International Flavors & Fragrances Inc. (IFF) will achieve an EPS of $1.41 for the current quarter, $1.53 for the next quarter and $6.58 for 2024. The lowest estimate earnings-per-share for the quarter is $1.31 while analysts give the company a high EPS estimate of $1.5. Comparatively, EPS for the current quarter was $1.69 a year ago. Earnings per share for the fiscal year are expected to decrease by -764.20%, and 13.89% over the next financial year. EPS should grow at an annualized rate of 4.01% over the next five years, compared to -27.30% over the past 5-year period.
Looking at the support for the IFF, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on February 10, 2023, with the firm’s price target at $121-$106. BofA Securities coverage for the International Flavors & Fragrances Inc. (IFF) stock in a research note released on January 11, 2023 offered a Underperform rating with a price target of $121. JP Morgan was of a view on November 09, 2022 that the stock is Neutral, while Credit Suisse gave the stock Outperform rating on June 27, 2022, issuing a price target of $145. Jefferies on their part issued Hold rating on June 16, 2022.
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