17,642 Shares in International Flavors & Fragrances Inc. $IFF Bought by PenderFund Capital Management Ltd.

PenderFund Capital Management Ltd. bought a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 17,642 shares of the specialty chemicals company's stock, valued at approximately $1,398,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IFF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in International Flavors & Fragrances by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company's stock valued at $2,042,000 after acquiring an additional 1,335 shares during the period. Jones Financial Companies Lllp grew its position in shares of International Flavors & Fragrances by 15.7% in the first quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company's stock valued at $309,000 after purchasing an additional 539 shares during the last quarter. Empowered Funds LLC increased its stake in shares of International Flavors & Fragrances by 71.5% in the first quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company's stock worth $811,000 after purchasing an additional 4,358 shares during the period. Focus Partners Wealth lifted its position in shares of International Flavors & Fragrances by 25.5% during the 1st quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company's stock worth $584,000 after purchasing an additional 1,530 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position 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 purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

International Flavors & Fragrances Stock Down 0.3%

IFF stock opened at $86.86 on Friday. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $89.32. The company has a market cap of $22.16 billion, a PE ratio of 79.69, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93. The business's 50-day simple moving average is $80.32 and its 200 day simple moving average is $76.72. 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 (NYSE:IFF - Get Free Report) 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 the consensus estimate of $1.07 by ($0.25). The firm had revenue of $1.95 billion for 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 was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. On average, research analysts anticipate that International Flavors & Fragrances Inc. will post 3.08 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.8%. International Flavors & Fragrances's payout ratio is currently 146.79%.

International Flavors & Fragrances declared that its Board of Directors has approved a share repurchase program on Tuesday, August 4th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 12.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

IFF has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Citigroup cut their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. UBS Group increased their price objective on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. BNP Paribas Exane raised their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Finally, Barclays boosted their target price on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $91.40.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances 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 value of $754,978.75. Following the sale, the executive vice president owned 5,199 shares of the company's stock, valued at $444,774.45. The trade was a 62.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the firm'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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 15,543 shares of company stock valued at $1,315,659. Company insiders own 1.07% of the company's stock.

About International Flavors & Fragrances

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.

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