OMERS ADMINISTRATION Corp Acquires New Holdings in International Flavors & Fragrances Inc. $IFF

OMERS ADMINISTRATION Corp bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,864 shares of the specialty chemicals company’s stock, valued at approximately $1,336,000.

Several other hedge funds have also modified their holdings of the company. DNB Asset Management AS boosted its holdings in shares of International Flavors & Fragrances by 0.3% in the 4th quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock valued at $3,622,000 after buying an additional 139 shares in the last quarter. MML Investors Services LLC raised its stake in shares of International Flavors & Fragrances by 0.8% during the 4th quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock worth $1,162,000 after acquiring an additional 140 shares in the last quarter. State of Michigan Retirement System lifted its position in International Flavors & Fragrances by 0.3% during the fourth quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock valued at $4,685,000 after acquiring an additional 200 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in International Flavors & Fragrances by 0.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 42,033 shares of the specialty chemicals company’s stock valued at $2,855,000 after acquiring an additional 203 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in 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 acquiring an additional 210 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Price Performance

NYSE IFF opened at $87.14 on Thursday. The company has a market cap of $22.23 billion, a price-to-earnings ratio of 79.94, a PEG ratio of 3.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The stock’s fifty day moving average price is $80.12 and its 200 day moving average price is $76.64. International Flavors & Fragrances Inc. has a 1 year low of $59.14 and a 1 year high of $89.32.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The firm 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%.The business’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 3.08 earnings per share for the current year.

International Flavors & Fragrances announced that its board has initiated a stock repurchase program on Tuesday, August 4th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase up to 12.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.40 dividend. The ex-dividend date is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.8%. International Flavors & Fragrances’s dividend payout ratio is currently 146.79%.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 260,000 shares of International Flavors & Fragrances stock in a transaction on 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 transaction, the director owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. This represents a 10.73% increase in their position. The transaction was disclosed in a legal 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 shares were 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. Insiders have sold a total of 15,543 shares of company stock worth $1,315,659 in the last 90 days. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

IFF has been the topic of a number of recent analyst reports. UBS Group upped their price target on International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Citigroup dropped their target price on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Morgan Stanley upped their target price on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Oppenheimer raised their price target on International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, Rothschild & Co Redburn dropped their price target on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. 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’s stock. Based on data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

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.