Commerce Bank Makes New Investment in International Flavors & Fragrances Inc. $IFF

Commerce Bank purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFFFree Report) in the 2nd quarter, Holdings Channel reports. The firm purchased 6,613 shares of the specialty chemicals company’s stock, valued at approximately $524,000.

Several other large investors have also modified their holdings of IFF. Lloyd Advisory Services LLC. acquired a new stake in shares of International Flavors & Fragrances in the fourth quarter worth approximately $27,000. Root Financial Partners LLC increased its position in International Flavors & Fragrances by 97.9% during the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 274 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in 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 worth $46,000 after purchasing an additional 210 shares during the period. Transamerica Financial Advisors LLC boosted its holdings in shares of International Flavors & Fragrances by 884.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 610 shares during the last quarter. Finally, EFG International AG acquired a new position in shares of International Flavors & Fragrances in the 4th quarter valued at $73,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, EVP Michael Deveau sold 8,825 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value of $754,978.75. Following the completion of the sale, the executive vice president directly owned 5,199 shares of the company’s stock, valued at $444,774.45. This represents a 62.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Marc Birenkrant sold 1,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the sale, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,543 shares of company stock valued at $1,315,659. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

IFF has been the subject of a number of research analyst reports. Barclays upped their price objective on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Rothschild & Co Redburn reduced their price target on International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. UBS Group upped their price objective on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, Morgan Stanley boosted their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and a consensus target price of $91.40.

Check Out Our Latest Analysis on IFF

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $86.86 on Friday. 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 firm has a market cap of $22.16 billion, a price-to-earnings ratio of 79.69, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $89.32. The company has a 50-day moving average of $80.32 and a 200-day moving average of $76.72.

International Flavors & Fragrances (NYSE:IFFGet Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.25). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.International Flavors & Fragrances’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 EPS. Analysts forecast 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 share buyback program 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 repurchase up to 12.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

International Flavors & Fragrances Announces Dividend

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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s payout ratio is currently 146.79%.

International Flavors & Fragrances Company Profile

(Free Report)

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

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:IFFFree Report).

Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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