SCHEDULE 13G/A: BlackRock Amends Stake in International Flavors & Fragrances, Reports 7.0% Beneficial Ownership
Beneficial Ownership Disclosure
BlackRock, Inc. has filed an Amendment No. 15 to Schedule 13G, disclosing a 7.0% beneficial ownership stake in International Flavors and Fragrances Inc. as of March 31, 2025.
Summary
- BlackRock, Inc. filed an Amendment No. 15 to Schedule 13G regarding its beneficial ownership in International Flavors and Fragrances Inc.
- As of March 31, 2025, BlackRock, Inc. beneficially owns an aggregate of 17,980,322 shares of Common Stock of International Flavors and Fragrances Inc.
- This represents 7.0% of the total outstanding common stock.
- BlackRock, Inc. holds sole voting power over 16,059,862 shares and sole dispositive power over 17,980,322 shares.
- No shared voting or dispositive power is reported.
- The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
- Various BlackRock subsidiaries and affiliates are involved in the beneficial ownership, with some entities potentially owning 5% or more individually.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing (Schedule 13G Amendment) disclosing beneficial ownership. It contains no positive or negative news regarding the issuer's operations or financial performance, nor does it indicate any strategic intent by the filer beyond passive investment. Therefore, the sentiment is neutral.
Future Outlook
This document does not contain forward-looking statements or guidance regarding International Flavors and Fragrances Inc.'s operations or financial performance.
Management Comments
- "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."
Industry Context
This filing is a routine disclosure by a large institutional asset manager, BlackRock, indicating its passive investment stake in International Flavors and Fragrances Inc. Such filings are common for major investment firms that manage significant portfolios across various public companies, reflecting their ongoing portfolio adjustments rather than specific strategic moves related to the issuer's industry.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorneys-in-fact for BlackRock, Inc. | Previous attorneys-in-fact under the revoked Power of Attorney dated April 30, 2023 | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 01/21/2025 | New Power of Attorney executed, revoking previous one, for the purpose of executing ownership or control-person reporting requirements for BlackRock, Inc. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. executed a new Power of Attorney, effective January 21, 2025, appointing several individuals as attorneys-in-fact to execute documents related to ownership or control-person reporting requirements (e.g., Schedules 13D/G, Forms 3, 4, 5). This new Power of Attorney expressly revokes the previous one dated April 30, 2023. | 01/21/2025 | This is a routine internal corporate governance update for BlackRock, ensuring proper authorization for SEC filings. It does not directly impact the corporate governance of International Flavors and Fragrances Inc. |
Stakeholder Impact
- Shareholders of International Flavors and Fragrances Inc.: The disclosure provides transparency regarding a significant institutional holder's stake, confirming BlackRock's passive investment intent. This is generally neutral, but large institutional holdings can provide a degree of stability.
- BlackRock, Inc. (and its clients): This filing fulfills regulatory obligations for BlackRock and its underlying clients whose assets are managed by BlackRock.
Key Dates
| Date | Description |
|---|---|
| 01/21/2025 | Date of execution of the new Power of Attorney by BlackRock, Inc. |
| 03/31/2025 | Date of event which requires the filing of this statement (beneficial ownership calculation date). |
| 04/24/2025 | Date of filing of this Schedule 13G Amendment No. 15. |
| 04/30/2023 | Date of the previously revoked Power of Attorney. |
Keywords
International Flavors and Fragrances Inc., IFF, BlackRock, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Ownership Disclosure, Investment Management
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