10,424 International Flavors & Fragrances Inc. $IFF Shares Acquired by Everett Harris & Co. CA

Everett Harris & Co. CA raised its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 22.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,689 shares of the specialty chemicals company’s stock after buying an additional 10,424 shares during the period. Everett Harris & Co. CA’s holdings in International Flavors & Fragrances were worth $4,732,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in International Flavors & Fragrances during the second quarter worth about $1,835,955,000. Nykredit A S acquired a new stake in International Flavors & Fragrances during the second quarter worth about $223,065,000. Dimensional Fund Advisors LP increased its holdings in shares of International Flavors & Fragrances by 8.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,809,090 shares of the specialty chemicals company’s stock worth $131,222,000 after buying an additional 147,896 shares during the last quarter. Bank of America Corp DE purchased a new stake in International Flavors & Fragrances in the second quarter valued at $131,760,000. Finally, Bank of New York Mellon Corp raised its holdings in International Flavors & Fragrances by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,598,636 shares of the specialty chemicals company’s stock valued at $115,981,000 after buying an additional 10,654 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $90.89 on Friday. 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 $23.19 billion, a price-to-earnings ratio of 83.39, a price-to-earnings-growth ratio of 3.89 and a beta of 0.91. The firm’s fifty day moving average price is $86.66 and its 200 day moving average price is $78.41. International Flavors & Fragrances Inc. has a 1-year low of $61.29 and a 1-year high of $94.65.

International Flavors & Fragrances (NYSE:IFF) last released 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). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates 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 last year, the business posted $1.15 EPS. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 3.24 EPS for the current year.

International Flavors & Fragrances announced that its Board of Directors has initiated a stock buyback plan 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 repurchase up to 12.1% of its shares through open market purchases. Share repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Saturday, December 19th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.8%. International Flavors & Fragrances’s payout ratio is 146.79%.

Insider Activity at International Flavors & Fragrances

In related news, CAO Marc Birenkrant sold 1,000 shares of the 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 directly owned 3,446 shares in the company, valued at approximately $292,910. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Deveau sold 8,825 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total transaction of $754,978.75. Following the sale, the executive vice president directly owned 5,199 shares of the company’s stock, valued at $444,774.45. This represents a 62.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,543 shares of company stock worth $1,315,659. 1.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IFF shares. KeyCorp began coverage on International Flavors & Fragrances in a research note on Thursday, September 10th. They set a “sector weight” rating on the stock. Benchmark lifted 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. Wall Street Zen upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday, October 25th. Barclays upped their price objective on International Flavors & Fragrances from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, October 16th. Finally, Weiss Ratings raised shares of International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.28.

International Flavors & Fragrances Company Profile

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.