Pallas Capital Advisors LLC bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,745 shares of the specialty chemicals company’s stock, valued at approximately $534,000.
A number of other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of International Flavors & Fragrances by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company’s stock worth $2,042,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in International Flavors & Fragrances by 15.7% in the 1st quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company’s stock worth $309,000 after purchasing an additional 539 shares in the last quarter. Empowered Funds LLC boosted its stake in International Flavors & Fragrances by 71.5% in the 1st quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company’s stock worth $811,000 after purchasing an additional 4,358 shares during the period. Focus Partners Wealth grew its holdings in International Flavors & Fragrances by 25.5% during the 1st quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company’s stock valued at $584,000 after buying an additional 1,530 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of International Flavors & Fragrances from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Vertical Research downgraded shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Thursday, August 6th. Rothschild & Co Redburn dropped their price objective on shares of International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Citigroup reduced their target price on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Finally, Jefferies Financial Group boosted their target price on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.16.
Insider Buying and Selling
In other International Flavors & Fragrances news, EVP Michael Deveau sold 8,825 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total transaction of $754,978.75. Following the transaction, the executive vice president owned 5,199 shares in the company, valued at $444,774.45. The trade was a 62.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Marc Birenkrant sold 1,000 shares of International Flavors & Fragrances stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the transaction, the chief accounting officer directly owned 3,446 shares of the company’s stock, valued at approximately $292,910. This represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,543 shares of company stock worth $1,315,659 in the last 90 days. Company insiders own 1.07% of the company’s stock.
International Flavors & Fragrances Price Performance
IFF stock opened at $83.23 on Thursday. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $89.32. The firm has a market capitalization of $21.24 billion, a P/E ratio of 76.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.93. The company has a fifty day simple moving average of $79.32 and a two-hundred day simple moving average of $76.14. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts anticipate that International Flavors & Fragrances Inc. will post 3.06 earnings per share for the current fiscal year.
International Flavors & Fragrances Announces Dividend
The business also recently disclosed 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 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 is 146.79%.
International Flavors & Fragrances declared that its board has approved a share repurchase plan on Tuesday, August 4th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 12.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
About International Flavors & Fragrances
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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