Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 885,245 shares of the specialty chemicals company’s stock, valued at approximately $70,129,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.35% of International Flavors & Fragrances at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DNB Asset Management AS boosted its position in shares of International Flavors & Fragrances by 0.3% during the fourth quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock valued at $3,622,000 after buying an additional 139 shares during the period. MML Investors Services LLC raised its holdings in shares of International Flavors & Fragrances by 0.8% in the fourth quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock worth $1,162,000 after buying an additional 140 shares during the period. State of Michigan Retirement System lifted its stake in shares of International Flavors & Fragrances by 0.3% during the 4th quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock worth $4,685,000 after acquiring an additional 200 shares during the last quarter. Manning & Napier Advisors LLC boosted its holdings in International Flavors & Fragrances by 0.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 42,033 shares of the specialty chemicals company’s stock valued at $2,855,000 after acquiring an additional 203 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 210 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.
International Flavors & Fragrances Price Performance
Shares of IFF stock opened at $83.23 on Thursday. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $89.32. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $79.32 and a two-hundred day simple moving average of $76.14. The stock has a market capitalization of $21.24 billion, a price-to-earnings ratio of 76.36, a P/E/G ratio of 3.01 and a beta of 0.93.
International Flavors & Fragrances Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.9%. International Flavors & Fragrances’s dividend payout ratio (DPR) is 146.79%.
International Flavors & Fragrances announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 4th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 12.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
IFF has been the topic of a number of recent analyst reports. BNP Paribas Exane increased their target price on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Barclays lifted their price objective on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Citigroup dropped their target price on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.16.
View Our Latest Stock Analysis on IFF
Insider Buying and Selling at International Flavors & Fragrances
In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Fribourg acquired 260,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the purchase, the director directly owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 15,543 shares of company stock worth $1,315,659. 1.07% of the stock is owned by company insiders.
International Flavors & Fragrances Company Profile
International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.
IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.
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