Manning & Napier Advisors LLC Takes $3.38 Million Position in International Flavors & Fragrances Inc. $IFF

Manning & Napier Advisors LLC acquired a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,676 shares of the specialty chemicals company’s stock, valued at approximately $3,381,000.

A number of other hedge funds have also recently bought and sold shares of the company. Lloyd Advisory Services LLC. bought a new position in shares of International Flavors & Fragrances during the 4th quarter valued at about $27,000. Root Financial Partners LLC lifted its position in shares of International Flavors & Fragrances by 97.9% during the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 274 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings 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 last quarter. Finally, EFG International AG acquired a new position in shares of International Flavors & Fragrances in the 4th quarter valued at $73,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Paul J. Fribourg purchased 260,000 shares of the stock in a transaction on Monday, June 1st. The shares were bought at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the acquisition, the director directly owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This trade represents a 10.73% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Marc Birenkrant sold 1,000 shares of International Flavors & Fragrances 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 directly owned 3,446 shares in the company, valued at approximately $292,910. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 15,543 shares of company stock worth $1,315,659 over the last ninety days. Company insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $85.79 on Tuesday. 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 Inc. has a 12 month low of $59.14 and a 12 month high of $89.32. The company’s fifty day moving average is $79.71 and its 200-day moving average is $76.45. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 78.71, a price-to-earnings-growth ratio of 3.12 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last posted its 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). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The business 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 company earned $1.15 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

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

International Flavors & Fragrances Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on IFF. Berenberg Bank upped their price target on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a research report on Thursday, May 7th. Vertical Research downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Thursday, August 6th. Citigroup reduced their price objective on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Jefferies Financial Group raised their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Finally, Oppenheimer upped their target price on International Flavors & Fragrances from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.16.

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.