International Flavors & Fragrances Inc. $IFF Stake Lessened by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC reduced its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 10.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 117,105 shares of the specialty chemicals company’s stock after selling 13,004 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in International Flavors & Fragrances were worth $9,277,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Swiss Life Asset Management Ltd boosted its holdings in International Flavors & Fragrances by 117.0% in the fourth quarter. Swiss Life Asset Management Ltd now owns 148,377 shares of the specialty chemicals company’s stock worth $9,999,000 after purchasing an additional 80,014 shares during the period. First Eagle Investment Management LLC lifted its position in shares of International Flavors & Fragrances by 27.5% in the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock worth $595,166,000 after buying an additional 1,904,598 shares during the last quarter. Strs Ohio boosted its holdings in shares of International Flavors & Fragrances by 346.2% in the 4th quarter. Strs Ohio now owns 27,337 shares of the specialty chemicals company’s stock valued at $1,842,000 after buying an additional 21,211 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of International Flavors & Fragrances by 38.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 784,570 shares of the specialty chemicals company’s stock valued at $56,921,000 after buying an additional 218,420 shares during the period. Finally, Staley Capital Advisers Inc. grew its position in shares of International Flavors & Fragrances by 13.8% during the 4th quarter. Staley Capital Advisers Inc. now owns 976,453 shares of the specialty chemicals company’s stock valued at $65,803,000 after buying an additional 118,475 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IFF. Berenberg Bank raised their target price on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a report on Thursday, May 7th. Zacks Research lowered International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. UBS Group increased 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. Barclays raised their price target on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Oppenheimer upped their price objective on International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.40.

Insider Buying and Selling

In related news, EVP Michael Deveau sold 8,825 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $85.55, for a total value of $754,978.75. Following the completion of the transaction, the executive vice president directly owned 5,199 shares of the company’s stock, valued at $444,774.45. This represents a 62.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Marc Birenkrant sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $85.00, for a total value of $85,000.00. Following the completion of the sale, the chief accounting officer owned 3,446 shares in the company, valued at approximately $292,910. This represents a 22.49% decrease in their ownership of the stock. 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 in the last three months. 1.07% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Stock Down 1.8%

IFF stock opened at $86.37 on Tuesday. The stock has a market cap of $22.04 billion, a PE ratio of 79.24, a price-to-earnings-growth ratio of 3.25 and a beta of 0.93. The firm’s 50-day simple moving average is $80.75 and its 200 day simple moving average is $76.88. 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 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 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). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.9%. International Flavors & Fragrances’s payout ratio is currently 146.79%.

International Flavors & Fragrances announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 4th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.