Saudi Central Bank Boosts Position in International Flavors & Fragrances Inc. $IFF

Saudi Central Bank grew its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 84.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,434 shares of the specialty chemicals company’s stock after buying an additional 7,981 shares during the quarter. Saudi Central Bank’s holdings in International Flavors & Fragrances were worth $1,381,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Lloyd Advisory Services LLC. acquired a new stake in International Flavors & Fragrances in the 4th quarter valued at $27,000. Root Financial Partners LLC lifted its position in 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 worth $40,000 after acquiring an additional 274 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in 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 period. Transamerica Financial Advisors LLC grew its position in International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 610 shares in the last quarter. Finally, EFG International AG purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $85.79 on Wednesday. The stock has a market capitalization of $21.89 billion, a PE ratio of 78.71, a price-to-earnings-growth ratio of 3.36 and a beta of 0.94. The business’s fifty day moving average price is $81.98 and its 200 day moving average price is $77.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $89.32.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $1.15 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts forecast that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances Announces Dividend

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

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

Analyst Upgrades and Downgrades

IFF has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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. Morgan Stanley upped their price objective on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. UBS Group lifted their target price 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. Argus increased their price target on International Flavors & Fragrances from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings lowered International Flavors & Fragrances from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Twelve investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.40.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, EVP Michael Deveau sold 8,825 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly 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 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 dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the transaction, the chief accounting officer owned 3,446 shares of the company’s stock, valued at $292,910. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 15,543 shares of company stock worth $1,315,659. 1.07% of the stock is currently owned by company insiders.

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.