10 Best Beauty Stocks To Buy According to Short Sellers

4. International Flavors & Fragrances Inc. (NYSE:IFF)

% of shares shorted: 1.12%                                              

International Flavors & Fragrances Inc. (NYSE:IFF) is the world’s biggest manufacturer of specialized ingredients, with an impressive array of products that lead their respective markets across various industries. It offers a wide range of flavors and fragrances.

The company’s portfolio has shifted in recent years, with the acquisition of DuPont’s nutrition and biosciences businesses in 2021 and Frutarom in 2018.

However, shareholder value suffered as a result of IIFF’s overpayment for the acquisitions of Frutarom and DuPont Nutrition Sciences.

On the bright side, a remarkable recovery in the company’s flavors, fragrances, and health and biosciences division propelled International Flavors & Fragrances to record second-quarter 2024 adjusted EBITDA growth of 15% YoY. This improvement was driven by high single-digit volume growth, on which the company is focused.

Raising its full-year outlook, International Flavors & Fragrances Inc. (NYSE:IFF) now projects sales between $11.1 billion and $11.3 billion, up from the prior range of $10.8 billion to $11.1 billion. It also anticipates an increase in adjusted operating EBITDA from the previous range of $1.9 billion to $2.1 billion, to $2.1 billion to $2.17 billion.

International Flavors & Fragrances Inc. (NYSE:IFF) is in a strong growth phase and should continue to produce greater value for shareholders, according to the updated outlook.

The company’s stockholders made up 46 of the 912 hedge funds listed in Insider Monkey’s Q2 2024 database. International Flavors & Fragrances Inc. (NYSE:IFF)’s biggest hedge fund investor is Israel Englander’s Millennium Management, which owns $411.32 million worth of 4,320,107 shares.