International Flavors & Fragrances Inc. $IFF Stock Position Boosted by Saudi Central Bank

Saudi Central Bank grew its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 84.4% during the second quarter, Holdings Channel reports. The institutional investor owned 17,434 shares of the specialty chemicals company’s stock after acquiring an additional 7,981 shares during the period. Saudi Central Bank’s holdings in International Flavors & Fragrances were worth $1,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IFF. DNB Asset Management AS raised its stake in shares of International Flavors & Fragrances by 0.3% in the 4th quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock worth $3,622,000 after buying an additional 139 shares in the last quarter. MML Investors Services LLC lifted its position in shares of International Flavors & Fragrances by 0.8% during the 4th quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock valued at $1,162,000 after acquiring an additional 140 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of 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 worth $46,000 after acquiring an additional 210 shares in the last quarter. QRG Capital Management Inc. boosted its stake in 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 purchasing an additional 228 shares during the period. Finally, Peoples Bank KS raised its stake in International Flavors & Fragrances by 5.1% during the 2nd quarter. Peoples Bank KS now owns 4,686 shares of the specialty chemicals company’s stock valued at $371,000 after purchasing an additional 228 shares during the period. Institutional investors own 96.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IFF shares. Argus lifted 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. Morgan Stanley raised their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Benchmark upped their price objective on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Barclays lifted 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. Finally, Vertical Research lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Insider Buying and Selling

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $83.19, for a total transaction of $475,680.42. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Deveau sold 8,825 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were 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 directly owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their position. The disclosure for this sale 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 three months. 1.07% of the stock is owned by corporate insiders.

International Flavors & Fragrances Stock Down 0.6%

Shares of International Flavors & Fragrances stock opened at $85.79 on Wednesday. The stock has a 50 day moving average price of $81.98 and a two-hundred day moving average price of $77.07. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $89.32. The stock has a market capitalization of $21.89 billion, a P/E ratio of 78.71, a PEG ratio of 3.36 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data 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 for 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%.International Flavors & Fragrances’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 EPS. Equities analysts expect that International Flavors & Fragrances Inc. will post 3.08 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

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

International Flavors & Fragrances announced that its board has authorized a share buyback 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 buy up to 12.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

International Flavors & Fragrances 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.