Great Lakes Advisors LLC Invests $12.41 Million in International Flavors & Fragrances Inc. $IFF

Great Lakes Advisors LLC bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 156,717 shares of the specialty chemicals company’s stock, valued at approximately $12,415,000.

Several other hedge funds have also modified their holdings of IFF. Lloyd Advisory Services LLC. purchased a new position in International Flavors & Fragrances in the 4th quarter worth about $27,000. Root Financial Partners LLC boosted its holdings in shares of International Flavors & Fragrances by 97.9% in the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 274 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 210 shares during the period. Transamerica Financial Advisors LLC increased its position in shares of International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 610 shares in the last quarter. Finally, EFG International AG acquired a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $73,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Oppenheimer boosted their target price on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Rothschild & Co Redburn reduced their target price on International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Morgan Stanley lifted their price target on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Finally, Citigroup dropped their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.16.

Insider Buying and Selling at International Flavors & Fragrances

In related news, 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 transaction, the executive vice president owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. The trade was a 62.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul J. Fribourg bought 260,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the purchase, the director owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $81.02 on Wednesday. The business has a fifty day simple moving average of $79.15 and a 200 day simple moving average of $76.05. 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. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 74.33, a P/E/G ratio of 3.13 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last posted 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 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 business’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. As a group, sell-side analysts predict that International Flavors & Fragrances Inc. will post 3.06 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm 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 dividend of $0.40 per share. The ex-dividend date is Friday, September 18th. This represents a $1.60 annualized dividend and a yield of 2.0%. International Flavors & Fragrances’s dividend payout ratio is presently 146.79%.

International Flavors & Fragrances declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 12.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.