International Flavors & Fragrances Inc. $IFF Stock: Cooke & Bieler LP Raises Stake

Cooke & Bieler LP boosted its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 645,778 shares of the specialty chemicals company’s stock after purchasing an additional 43,914 shares during the period. Cooke & Bieler LP’s holdings in International Flavors & Fragrances were worth $53,910,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Studio Investment Management LLC raised its stake in International Flavors & Fragrances by 3.7% during the 2nd quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock valued at $312,000 after buying an additional 138 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of International Flavors & Fragrances by 27.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock valued at $56,000 after buying an additional 154 shares during the period. Waverly Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 4.2% in the 2nd quarter. Waverly Advisors LLC now owns 3,850 shares of the specialty chemicals company’s stock worth $305,000 after buying an additional 156 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of International Flavors & Fragrances by 2.8% in the 2nd quarter. HB Wealth Management LLC now owns 6,272 shares of the specialty chemicals company’s stock worth $497,000 after buying an additional 171 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of International Flavors & Fragrances by 6.3% in the 1st quarter. QRG Capital Management Inc. now owns 3,875 shares of the specialty chemicals company’s stock worth $281,000 after buying an additional 228 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Down 0.2%

Shares of IFF stock opened at $91.06 on Thursday. International Flavors & Fragrances Inc. has a 12 month low of $61.29 and a 12 month high of $92.02. The stock has a market cap of $23.23 billion, a P/E ratio of 83.54, a P/E/G ratio of 3.85 and a beta of 0.91. 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 50 day simple moving average of $85.55 and a two-hundred day simple moving average of $79.63.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share 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 the consensus estimate of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 earnings per share. On average, research analysts expect that International Flavors & Fragrances Inc. will post 3.29 earnings per share for the current year.

International Flavors & Fragrances announced that its Board of Directors has approved a share repurchase program on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 12.1% of its shares through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is 146.79%.

Insider Transactions at International Flavors & Fragrances

In related news, CAO Marc Birenkrant sold 1,000 shares of the firm’s 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 transaction, the chief accounting officer directly owned 3,446 shares of the company’s stock, valued at approximately $292,910. This trade represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,543 shares of company stock worth $1,315,659 in the last three months. Corporate insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IFF. Morgan Stanley lifted their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Zacks Research raised International Flavors & Fragrances from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. Wall Street Zen cut International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. KeyCorp began coverage on International Flavors & Fragrances in a research report on Thursday, September 10th. They issued a “sector weight” rating on the stock. Finally, Argus boosted their price target on International Flavors & Fragrances from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.22.

About International Flavors & Fragrances

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.