1,354,584 Shares in International Flavors & Fragrances Inc. $IFF Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) in the 2nd quarter, HoldingsChannel reports. The fund purchased 1,354,584 shares of the specialty chemicals company’s stock, valued at approximately $107,310,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lloyd Advisory Services LLC. purchased a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at about $27,000. Root Financial Partners LLC boosted its holdings in International Flavors & Fragrances by 97.9% in the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 274 shares during the period. Geneos Wealth Management Inc. grew its position in 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 valued at $46,000 after acquiring an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in shares of International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 610 shares during the period. Finally, EFG International AG acquired a new position in shares of International Flavors & Fragrances during the fourth quarter worth $73,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 0.0%

Shares of NYSE:IFF opened at $87.14 on Thursday. The company’s fifty day moving average is $80.12 and its two-hundred day moving average is $76.64. 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 Inc. has a 1-year low of $59.14 and a 1-year high of $89.32. The stock has a market capitalization of $22.23 billion, a price-to-earnings ratio of 79.94, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results 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 business had revenue of $1.95 billion during 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 company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $1.15 earnings per share. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances announced that its board has authorized a share buyback program on Tuesday, August 4th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 12.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

International Flavors & Fragrances Dividend Announcement

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

Insider Buying and Selling

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $83.19, for a total transaction of $475,680.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marc Birenkrant sold 1,000 shares of the stock in a transaction 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 sale, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,543 shares of company stock valued at $1,315,659 over the last three months. 1.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IFF shares. UBS Group raised their price target on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. BNP Paribas Exane boosted their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lowered their target price on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Oppenheimer lifted their target price on International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating 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 note on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

About International Flavors & Fragrances

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.