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

Manning & Napier Advisors LLC bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, HoldingsChannel reports. The firm bought 42,676 shares of the specialty chemicals company’s stock, valued at approximately $3,381,000.

A number of other hedge funds also recently modified their holdings of the company. DNB Asset Management AS grew its holdings in shares of International Flavors & Fragrances by 0.3% during the 4th quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock worth $3,622,000 after purchasing an additional 139 shares in the last quarter. MML Investors Services LLC lifted its position in International Flavors & Fragrances by 0.8% in the fourth quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock worth $1,162,000 after purchasing an additional 140 shares during the period. State of Michigan Retirement System boosted its stake in International Flavors & Fragrances by 0.3% during the fourth quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock worth $4,685,000 after buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. increased 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 valued at $46,000 after buying an additional 210 shares during the period. Finally, QRG Capital Management Inc. raised 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 valued at $281,000 after buying an additional 228 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price objective on International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. UBS Group increased their target price on International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Oppenheimer boosted their price target on International Flavors & Fragrances from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective 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. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.16.

International Flavors & Fragrances Stock Up 1.8%

Shares of IFF opened at $85.79 on Tuesday. The company has a market capitalization of $21.89 billion, a P/E ratio of 78.71, a PEG ratio of 3.12 and a beta of 0.93. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $89.32. The business’s 50 day simple moving average is $79.71 and its 200-day simple moving average is $76.45. 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 (NYSE:IFF) last issued its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (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 the consensus estimate 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 revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. As a group, sell-side analysts predict that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders 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 dividend on an annualized basis and a yield of 1.9%. International Flavors & Fragrances’s dividend payout ratio is currently 146.79%.

International Flavors & Fragrances announced that its Board of Directors has initiated a share 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 buy up to 12.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at International Flavors & Fragrances

In other news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the 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. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul J. Fribourg acquired 260,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the purchase, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 15,543 shares of company stock valued at $1,315,659 over the last ninety days. Company insiders own 1.07% of the company’s stock.

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.