Tidal Investments LLC boosted its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,832 shares of the specialty chemicals company’s stock after acquiring an additional 13,605 shares during the quarter. Tidal Investments LLC owned 0.05% of International Flavors & Fragrances worth $10,523,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System lifted its position in shares of International Flavors & Fragrances by 14,483.8% during the second quarter. California State Teachers Retirement System now owns 43,100,116 shares of the specialty chemicals company’s stock worth $3,414,391,000 after purchasing an additional 42,804,581 shares during the last quarter. BlackRock Inc. bought a new position in shares of International Flavors & Fragrances in the second quarter worth about $1,835,955,000. State Street Corp increased its stake 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 worth $751,875,000 after buying an additional 121,260 shares during the period. Invesco Ltd. lifted its holdings in International Flavors & Fragrances by 4.9% during the 4th quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock valued at $506,760,000 after buying an additional 352,636 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in International Flavors & Fragrances by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company’s stock valued at $454,607,000 after buying an additional 172,781 shares during the period. Institutional investors own 96.02% of the company’s stock.
Wall Street Analysts Forecast Growth
IFF has been the topic of a number of research analyst reports. Vertical Research downgraded shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research note on Thursday, August 6th. UBS Group lifted their price target on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Zacks Research cut International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Benchmark raised their price objective on International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen lowered International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.40.
International Flavors & Fragrances Price Performance
Shares of IFF opened at $83.67 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. The company has a 50 day moving average price of $82.05 and a 200-day moving average price of $77.16. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $89.32. The stock has a market capitalization of $21.35 billion, a PE ratio of 76.76, a PEG ratio of 3.27 and a beta of 0.94.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last issued 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 business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 earnings per share. Equities analysts predict that International Flavors & Fragrances Inc. will post 3.08 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. Investors of record on Friday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is 146.79%.
International Flavors & Fragrances declared that its board has initiated a stock buyback program 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 repurchase up to 12.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Insider Activity at International Flavors & Fragrances
In other news, EVP Michael Deveau sold 8,825 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value of $754,978.75. Following the sale, the executive vice president directly owned 5,199 shares in the company, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 stock was sold at an average price of $83.19, for a total transaction of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,543 shares of company stock valued at $1,315,659 over the last quarter. 1.07% of the stock is owned by corporate insiders.
International Flavors & Fragrances Profile
International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and related solutions used in consumer and industrial products. Its offerings help customers create or enhance the taste, aroma, texture, appearance and performance of products across the food, beverage, personal care, home care, health and pharmaceutical markets.
IFF’s business includes natural and synthetic flavor compounds, fragrance ingredients and compositions, cosmetic and personal-care ingredients, specialty food ingredients, enzymes, cultures, probiotics and other bioscience-based solutions.
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