Hsbc Holdings PLC Takes $40.32 Million Position in International Flavors & Fragrances Inc. $IFF

Hsbc Holdings PLC bought a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 512,379 shares of the specialty chemicals company’s stock, valued at approximately $40,317,000. Hsbc Holdings PLC owned about 0.20% of International Flavors & Fragrances at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lloyd Advisory Services LLC. acquired a new position in International Flavors & Fragrances in the fourth quarter valued at $27,000. Root Financial Partners LLC boosted its position in shares of International Flavors & Fragrances by 97.9% in the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 274 shares during the period. Geneos Wealth Management Inc. increased its position in International Flavors & Fragrances by 55.7% during 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 boosted its holdings 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 valued at $50,000 after acquiring an additional 610 shares during the period. Finally, EFG International AG purchased a new position in shares of International Flavors & Fragrances during the fourth quarter worth approximately $73,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Down 0.0%

IFF stock opened at $87.14 on Thursday. The stock has a market capitalization of $22.23 billion, a PE ratio of 79.94, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93. The company has a fifty day moving average of $80.12 and a 200-day moving average of $76.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $89.32.

International Flavors & Fragrances (NYSE:IFF) last issued 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). The firm 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%.The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. As a group, analysts expect that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 12.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given 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 1.8%. International Flavors & Fragrances’s payout ratio is presently 146.79%.

Insiders Place Their Bets

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the company’s stock in a transaction on 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 at this link. Also, CAO Marc Birenkrant sold 1,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the completion of the transaction, the chief accounting officer owned 3,446 shares of the company’s stock, valued at $292,910. The trade was a 22.49% decrease in their position. The SEC filing for this sale provides additional information. 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.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IFF shares. Citigroup lowered their price objective on shares of 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. Rothschild & Co Redburn decreased their target price on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Wall Street Zen lowered International Flavors & Fragrances from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research cut International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Finally, UBS Group upped their price objective on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

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.