20,097 Shares of International Flavors & Fragrances Inc. $IFF Bought by VCI Wealth Management LLC

VCI Wealth Management LLC bought a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) during the third quarter, HoldingsChannel.com reports. The firm bought 20,097 shares of the specialty chemicals company’s stock, valued at approximately $1,678,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new position in International Flavors & Fragrances during the third quarter worth about $838,000. Greenleaf Trust lifted its holdings in shares of International Flavors & Fragrances by 1.7% in the third quarter. Greenleaf Trust now owns 14,320 shares of the specialty chemicals company’s stock worth $1,195,000 after acquiring an additional 236 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of International Flavors & Fragrances in the 3rd quarter valued at approximately $5,337,000. ProShare Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 1.9% in the 3rd quarter. ProShare Advisors LLC now owns 51,135 shares of the specialty chemicals company’s stock valued at $4,269,000 after purchasing an additional 946 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in shares of International Flavors & Fragrances in the 3rd quarter valued at approximately $277,000. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $94.64 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 company has a market capitalization of $24.15 billion, a PE ratio of 86.82, a P/E/G ratio of 3.89 and a beta of 0.91. International Flavors & Fragrances Inc. has a 12 month low of $61.29 and a 12 month high of $95.27. The stock has a 50-day moving average price of $87.06 and a two-hundred day moving average price of $78.65.

International Flavors & Fragrances (NYSE:IFF) last announced 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 net margin of 2.78% and a return on equity of 7.11%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 earnings per share. Analysts expect that International Flavors & Fragrances Inc. will post 3.24 EPS for the current year.

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

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Saturday, December 19th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.7%. International Flavors & Fragrances’s dividend payout ratio is currently 146.79%.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, EVP Michael Deveau sold 8,825 shares of the business’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 transaction of $754,978.75. Following the sale, the executive vice president directly owned 5,199 shares of the company’s stock, valued at $444,774.45. The trade was a 62.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Marc Birenkrant sold 1,000 shares of the company’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 transaction of $85,000.00. Following the completion of the transaction, the chief accounting officer owned 3,446 shares of the company’s stock, valued at approximately $292,910. This trade represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 in the last quarter. 1.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of International Flavors & Fragrances from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. KeyCorp initiated coverage on shares of International Flavors & Fragrances in a research note on Thursday, September 10th. They issued a “sector weight” rating for the company. Weiss Ratings upgraded shares of International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Citigroup decreased their target price on shares of International Flavors & Fragrances from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Finally, Vertical Research cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and an average price target of $94.28.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company’s portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.