41,398 Shares in International Flavors & Fragrances Inc. $IFF Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, Holdings Channel reports. The fund purchased 41,398 shares of the specialty chemicals company’s stock, valued at approximately $3,167,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lloyd Advisory Services LLC. bought a new position in shares of International Flavors & Fragrances in the fourth quarter worth approximately $27,000. Root Financial Partners LLC raised its holdings 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 valued at $40,000 after buying an additional 274 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in International Flavors & Fragrances by 55.7% during 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 last quarter. Transamerica Financial Advisors LLC boosted its position in International Flavors & Fragrances by 884.1% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 610 shares during the period. Finally, EFG International AG bought a new stake in International Flavors & Fragrances in the 4th quarter worth $73,000. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Down 0.1%

Shares of IFF opened at $87.88 on Monday. The firm’s 50-day moving average price is $80.54 and its 200-day moving average price is $76.81. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of 80.62, a PEG ratio of 3.25 and a beta of 0.93. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $89.32.

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 (EPS) 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 company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the company earned $1.15 earnings per share. International Flavors & Fragrances’s quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.8%. International Flavors & Fragrances’s dividend payout ratio is currently 146.79%.

International Flavors & Fragrances declared that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

IFF has been the topic of a number of analyst reports. BNP Paribas Exane boosted their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Benchmark raised their target price on International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. 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. Rothschild & Co Redburn lowered their price target on International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Finally, Morgan Stanley increased 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. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.40.

Insider Transactions at International Flavors & Fragrances

In other news, EVP Michael Deveau sold 8,825 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 5,199 shares in the company, valued at $444,774.45. This trade represents a 62.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 value of $85,000.00. Following the sale, the chief accounting officer owned 3,446 shares in the company, valued at $292,910. This represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 15,543 shares of company stock valued at $1,315,659. Corporate 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.