Canada Pension Plan Investment Board Takes Position in International Flavors & Fragrances Inc. $IFF

Canada Pension Plan Investment Board purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,354,584 shares of the specialty chemicals company’s stock, valued at approximately $107,310,000. Canada Pension Plan Investment Board owned 0.53% of International Flavors & Fragrances at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IFF. BlackRock Inc. purchased a new position in International Flavors & Fragrances during the 2nd quarter worth $1,835,955,000. Invesco Ltd. boosted its holdings in shares of International Flavors & Fragrances by 131.3% in the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock valued at $441,068,000 after acquiring an additional 4,069,075 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of International Flavors & Fragrances during the fourth quarter worth about $211,703,000. Ameriprise Financial Inc. raised its holdings in International Flavors & Fragrances by 1,842.0% during the second quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company’s stock worth $183,264,000 after purchasing an additional 2,363,307 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in International Flavors & Fragrances by 27.5% in the fourth 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 during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Trading Down 0.0%

Shares of IFF opened at $87.14 on Thursday. The stock has a fifty day moving average of $80.12 and a two-hundred day moving average of $76.64. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $89.32. The company has a market capitalization of $22.23 billion, a PE ratio of 79.94, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The business had revenue of $1.95 billion during 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 firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 earnings per share. As a group, analysts forecast that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 4th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to purchase up to 12.1% of its shares through open market purchases. Shares buyback plans are usually 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. This represents a $1.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio (DPR) is 146.79%.

Insider Transactions at International Flavors & Fragrances

In other news, CAO Marc Birenkrant sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the transaction, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul J. Fribourg acquired 260,000 shares of International Flavors & Fragrances stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the purchase, the director directly owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 15,543 shares of company stock worth $1,315,659 over the last ninety days. 1.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IFF has been the topic of several recent analyst reports. Wall Street Zen cut International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Rothschild & Co Redburn dropped their price objective on International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Jefferies Financial Group upped their target price on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Finally, Zacks Research cut International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Twelve equities research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.