NewEdge Advisors LLC Raises Stock Holdings in International Flavors & Fragrances Inc. $IFF

NewEdge Advisors LLC raised its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 82.8% during the 1st quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Argent Capital Management LLC bought a new stake in shares of International Flavors & Fragrances in the first quarter worth approximately $19,391,000. Bank of America Corp DE lifted its position in International Flavors & Fragrances by 1.6% during the first quarter. Bank of America Corp DE now owns 1,504,078 shares of the specialty chemicals company’s stock valued at $109,121,000 after purchasing an additional 23,680 shares during the period. Bull Harbor Capital LLC purchased a new stake in International Flavors & Fragrances in the first quarter worth approximately $552,000. Amundi grew its position in International Flavors & Fragrances by 29.5% in the 1st quarter. Amundi now owns 708,906 shares of the specialty chemicals company’s stock worth $51,431,000 after purchasing an additional 161,545 shares during the period. Finally, Royal Bank of Canada raised its stake in International Flavors & Fragrances by 0.3% during the 1st quarter. Royal Bank of Canada now owns 173,686 shares of the specialty chemicals company’s stock valued at $12,601,000 after buying an additional 454 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

IFF has been the topic of a number of research reports. Berenberg Bank raised their price target on International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Benchmark increased their target price on International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Barclays raised their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Rothschild & Co Redburn reduced their price target on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Finally, Oppenheimer increased their price objective on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.16.

Insider Transactions at International Flavors & Fragrances

In related news, EVP Michael Deveau sold 8,825 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the sale, the executive vice president owned 5,199 shares in the company, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Marc Birenkrant sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value 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 $292,910. The trade was a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Stock Performance

IFF opened at $81.88 on Tuesday. The company has a 50 day simple moving average of $79.04 and a two-hundred day simple moving average of $75.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The firm has a market cap of $20.89 billion, a P/E ratio of 75.12, a PEG ratio of 3.13 and a beta of 0.93. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $89.32.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.25). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.15 earnings per share. Equities analysts forecast that International Flavors & Fragrances Inc. will post 3.06 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s payout ratio is presently 146.79%.

International Flavors & Fragrances announced that its board has initiated a stock repurchase plan on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 12.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

International Flavors & Fragrances Company 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.