NewEdge Advisors LLC Acquires 7,373 Shares of International Flavors & Fragrances Inc. $IFF

NewEdge Advisors LLC boosted its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 82.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,281 shares of the specialty chemicals company’s stock after acquiring an additional 7,373 shares during the period. NewEdge Advisors LLC’s holdings in International Flavors & Fragrances were worth $1,181,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of International Flavors & Fragrances by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company’s stock valued at $2,042,000 after buying an additional 1,335 shares during the period. Jones Financial Companies Lllp boosted its position in International Flavors & Fragrances by 15.7% during the 1st quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company’s stock valued at $309,000 after acquiring an additional 539 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of International Flavors & Fragrances by 71.5% during the 1st quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company’s stock worth $811,000 after acquiring an additional 4,358 shares during the period. Focus Partners Wealth grew its holdings in shares of International Flavors & Fragrances by 25.5% during the 1st quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company’s stock worth $584,000 after acquiring an additional 1,530 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Michael Deveau sold 8,825 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 5,199 shares in the company, valued at approximately $444,774.45. This represents a 62.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul J. Fribourg purchased 260,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the acquisition, the director owned 2,682,730 shares of the company’s stock, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Stock Down 2.7%

Shares of NYSE:IFF opened at $81.88 on Tuesday. 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 stock has a fifty day simple moving average of $79.04 and a two-hundred day simple moving average of $75.98. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $89.32. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 75.12, a PEG ratio of 3.13 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last released its 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 company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 earnings per share. On average, research analysts anticipate that International Flavors & Fragrances Inc. will post 3.06 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 repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to buy up to 12.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders 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 yield of 2.0%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 146.79%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Oppenheimer lifted their price target on International Flavors & Fragrances from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Barclays raised their price objective on International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Berenberg Bank boosted their target price on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a report on Thursday, May 7th. Morgan Stanley upped their target price on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Finally, Zacks Research cut shares of International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and a consensus price target of $92.16.

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.