State Street Discloses Passive Stake in IFF Common Stock
Ticker: IFF · Form: SC 13G · Filed: Jan 29, 2024 · CIK: 51253
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**State Street just revealed a big, passive stake in IFF.**
AI Summary
State Street Corporation, a major financial institution, filed an initial Schedule 13G on January 29, 2024, disclosing its ownership of common stock in International Flavors & Fragrances Inc. (IFF) as of December 31, 2023. This filing indicates that State Street holds a significant, but passive, stake in IFF, signaling its role as a large institutional investor rather than an activist. For IFF shareholders, this means a major institutional player sees value in the company, potentially adding stability to the stock.
Why It Matters
This filing shows a major institutional investor, State Street, holds a significant position in IFF, which can be a vote of confidence for other investors.
Risk Assessment
Risk Level: low — This is a routine disclosure by a passive institutional investor and does not indicate any immediate risk or significant change in company control.
Analyst Insight
Smart investors should view this as a routine institutional disclosure, confirming a large player's passive interest in IFF, but it doesn't signal any immediate catalysts or concerns. It's a data point for stability, not a call to action.
Key Numbers
- 12/31/2023 — Date of Event (The date on which the ownership threshold was met, requiring this filing.)
- 01/29/2024 — Filing Date (The date the SC 13G filing was submitted to the SEC.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- International Flavors & Fragrances Inc. (company) — the subject company whose common stock is being reported
- 0000093751-24-000276 (person) — accession number for the filing
- 0000051253 (person) — Central Index Key (CIK) for International Flavors & Fragrances Inc.
- 0000093751 (person) — Central Index Key (CIK) for State Street Corp
- 459506101 (person) — CUSIP number for International Flavors & Fragrances Inc. common stock
Forward-Looking Statements
- State Street Corporation will maintain its passive investment in International Flavors & Fragrances Inc. for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
FAQ
What type of filing is this and what does it signify?
This is an SC 13G filing, specifically an 'INITIAL FILING' under Rule 13D-1(B). It signifies that State Street Corporation has acquired a significant, but passive, ownership stake (typically 5% or more) in International Flavors & Fragrances Inc. and does not intend to influence or control the company's management.
Who is the 'Reporting Person' in this filing?
The 'Reporting Person' is STATE STREET CORPORATION, identified by IRS Identification No. 04- and CIK 0000093751.
What is the 'Subject Company' and what securities are involved?
The 'Subject Company' is INTERNATIONAL FLAVORS & FRAGRANCES INC., identified by CIK 0000051253. The securities involved are 'COMMON STOCK' with CUSIP number 459506101.
When was the event that triggered this filing?
The 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT' was 12/31/2023.
What is the business address of the Reporting Person, State Street Corporation?
The business address for State Street Corporation is 1 CONGRESS STREET, SUITE 1, BOSTON, MA 02114.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 29, 2024 by 0000093751-24-000276 regarding INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF).