Hsbc Holdings PLC Sells 11,520 Shares of International Flavors & Fragrances Inc. $IFF

Hsbc Holdings PLC lowered its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 2.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 512,379 shares of the specialty chemicals company’s stock after selling 11,520 shares during the period. Hsbc Holdings PLC’s holdings in International Flavors & Fragrances were worth $40,317,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of International Flavors & Fragrances by 5.3% during the 1st 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 purchasing an additional 1,335 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in International Flavors & Fragrances by 15.7% in the first quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company’s stock worth $309,000 after purchasing an additional 539 shares during the last quarter. Empowered Funds LLC boosted its position in International Flavors & Fragrances by 71.5% during the first quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company’s stock valued at $811,000 after buying an additional 4,358 shares during the period. Focus Partners Wealth grew its stake in shares of International Flavors & Fragrances by 25.5% during the first quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company’s stock valued at $584,000 after buying an additional 1,530 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings 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 worth $46,000 after buying an additional 210 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Performance

International Flavors & Fragrances stock opened at $86.50 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 firm has a market cap of $22.07 billion, a P/E ratio of 79.36, a P/E/G ratio of 3.36 and a beta of 0.94. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $89.32. The firm has a 50-day moving average of $81.84 and a 200-day moving average of $77.05.

International Flavors & Fragrances (NYSE:IFF) last announced 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 for the quarter, compared to analysts’ expectations of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 EPS. Sell-side analysts expect that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances announced that its Board of Directors has approved a stock buyback program on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 12.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a dividend of $0.40 per share. 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 payout ratio is 146.79%.

Insider Buying and Selling

In related news, EVP Michael Deveau sold 8,825 shares of International Flavors & Fragrances stock in a transaction 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 sale, the executive vice president owned 5,199 shares in the company, valued at $444,774.45. The trade was a 62.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction 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 quarter. 1.07% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Benchmark boosted their target price on International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Vertical Research cut International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research note on Thursday, August 6th. Citigroup lowered 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. UBS Group increased their price objective on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Twelve analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and a consensus 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.