Corient Private Wealth LP Takes $10.81 Million Position in International Flavors & Fragrances Inc. $IFF

Corient Private Wealth LP acquired a new position in International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, Holdings Channel reports. The firm acquired 136,467 shares of the specialty chemicals company’s stock, valued at approximately $10,811,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in International Flavors & Fragrances during the second quarter worth about $1,835,955,000. State Street Corp boosted its position in shares of International Flavors & Fragrances by 1.1% during 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 purchasing an additional 121,260 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of International Flavors & Fragrances by 27.5% during the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock valued at $595,166,000 after purchasing an additional 1,904,598 shares in the last quarter. Invesco Ltd. grew its stake in shares of International Flavors & Fragrances by 4.9% in the 4th quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock worth $506,760,000 after purchasing an additional 352,636 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 worth $454,607,000 after purchasing an additional 172,781 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Up 1.2%

Shares of NYSE:IFF opened at $87.88 on Friday. The firm has a fifty day moving average of $80.54 and a two-hundred day moving average of $76.80. The firm has a market capitalization of $22.42 billion, a P/E ratio of 80.62, a price-to-earnings-growth ratio of 3.25 and a beta of 0.93. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $89.32. 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) last posted 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). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the company posted $1.15 earnings per share. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts expect that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

International Flavors & Fragrances announced that its board has initiated a stock repurchase 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 reacquire up to 12.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

International Flavors & Fragrances Dividend Announcement

The company 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 dividend payout ratio is presently 146.79%.

Insider Transactions at International Flavors & Fragrances

In other news, Director Paul J. Fribourg purchased 260,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the purchase, the director directly owned 2,682,730 shares of the company’s stock, valued at approximately $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $83.19, for a total value of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,543 shares of company stock valued at $1,315,659 over the last 90 days. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IFF. Benchmark raised their target price on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup cut their price objective on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Barclays raised their price objective on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Vertical Research lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, June 1st. Twelve 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

International Flavors & Fragrances 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.