Ieq Capital LLC bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) in the second quarter, Holdings Channel reports. The firm bought 15,459 shares of the specialty chemicals company’s stock, valued at approximately $1,225,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of IFF. BlackRock Inc. bought a new stake in International Flavors & Fragrances during the second quarter valued at about $1,835,955,000. State Street Corp grew its holdings in International Flavors & Fragrances by 1.1% in the 4th quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company’s stock valued at $751,875,000 after buying an additional 121,260 shares during the last quarter. First Eagle Investment Management LLC increased its position in International Flavors & Fragrances by 27.5% in the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock worth $595,166,000 after buying an additional 1,904,598 shares during the period. Invesco Ltd. lifted its holdings in shares of International Flavors & Fragrances by 4.9% during the fourth quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock worth $506,760,000 after buying an additional 352,636 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of International Flavors & Fragrances by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company’s stock valued at $454,607,000 after acquiring an additional 172,781 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CAO Marc Birenkrant sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $85.00, for a total value of $85,000.00. Following the completion of the transaction, the chief accounting officer owned 3,446 shares in the company, valued at $292,910. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $83.19, for a total transaction of $475,680.42. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 15,543 shares of company stock valued at $1,315,659. Insiders own 1.07% of the company’s stock.
International Flavors & Fragrances Trading Down 0.0%
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last issued its quarterly 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). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.15 EPS. As a group, equities analysts anticipate that International Flavors & Fragrances Inc. will post 3.08 earnings per share for the current fiscal year.
International Flavors & Fragrances announced that its board has approved a stock buyback plan on Tuesday, August 4th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 12.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
International Flavors & Fragrances Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.8%. International Flavors & Fragrances’s payout ratio is 146.79%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on IFF shares. Morgan Stanley boosted their price objective on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. upped their price target on International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Vertical Research lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a report on Thursday, August 6th. Wall Street Zen cut International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings cut International Flavors & Fragrances from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, International Flavors & Fragrances has an average rating of “Moderate Buy” and a consensus target price of $91.40.
View Our Latest Research Report on International Flavors & Fragrances
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.
See Also
- Five stocks we like better than International Flavors & Fragrances
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc. (NYSE:IFF – Free Report).
Receive News & Ratings for International Flavors & Fragrances Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Flavors & Fragrances and related companies with MarketBeat.com's FREE daily email newsletter.
