Bank of Nova Scotia Purchases Shares of 26,459 International Flavors & Fragrances Inc. $IFF

Bank of Nova Scotia purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 26,459 shares of the specialty chemicals company’s stock, valued at approximately $2,096,000.

Other large investors have also modified their holdings of the company. Lloyd Advisory Services LLC. bought a new position in International Flavors & Fragrances in the 4th quarter worth $27,000. Root Financial Partners LLC boosted its holdings 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 valued at $40,000 after acquiring an additional 274 shares during the period. Geneos Wealth Management Inc. grew its position in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC increased its stake in shares of International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 610 shares during the period. Finally, EFG International AG bought a new position in shares of International Flavors & Fragrances in the fourth quarter worth about $73,000. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Trading Down 0.0%

IFF stock opened at $87.14 on Thursday. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year 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 business’s 50 day moving average is $80.12 and its 200-day moving average is $76.64. The firm has a market cap of $22.23 billion, a P/E ratio of 79.94, a P/E/G ratio of 3.22 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 EPS. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 3.08 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently announced 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 dividend payout ratio is presently 146.79%.

International Flavors & Fragrances declared that its Board of Directors has initiated a stock buyback plan on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to buy up to 12.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen downgraded International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. BNP Paribas Exane upped their price target on International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Oppenheimer raised their price objective on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Rothschild & Co Redburn dropped their target price on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Finally, Jefferies Financial Group upped their target price on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

Insider Activity

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the sale, 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Deveau sold 8,825 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the sale, the executive vice president directly owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. The trade was a 62.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 in the last quarter. 1.07% of the stock is owned by company insiders.

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.