20,097 Shares in International Flavors & Fragrances Inc. $IFF Bought by VCI Wealth Management LLC

Key Points

• VCI Wealth Management purchased 20,097 IFF shares worth approximately $1.68 million, while institutional investors collectively own 96.02% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $94.28; IFF recently traded near its 52-week high at $94.64.
• IFF approved a $2.5 billion share-repurchase program and announced a quarterly dividend of $0.40 per share, although its latest earnings and revenue fell short of analyst expectations.

VCI Wealth Management LLC purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 20,097 shares of the specialty chemicals company's stock, valued at approximately $1,678,000.

Several other institutional investors have also added to or reduced their stakes in the company. GRIMES & Co WEALTH MANAGEMENT LLC bought a new position in International Flavors & Fragrances during the 3rd quarter worth $838,000. Greenleaf Trust lifted its holdings in shares of International Flavors & Fragrances by 1.7% during the third quarter. Greenleaf Trust now owns 14,320 shares of the specialty chemicals company's stock worth $1,195,000 after buying an additional 236 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of International Flavors & Fragrances in the third quarter valued at about $5,337,000. ProShare Advisors LLC boosted its position in shares of International Flavors & Fragrances by 1.9% in the third quarter. ProShare Advisors LLC now owns 51,135 shares of the specialty chemicals company's stock valued at $4,269,000 after acquiring an additional 946 shares during the period. Finally, Moss Adams Wealth Advisors LLC acquired a new position in shares of International Flavors & Fragrances in the third quarter valued at about $277,000. 96.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IFF has been the subject of several analyst reports. Wall Street Zen upgraded shares of International Flavors & Fragrances from a "sell" rating to a "hold" rating in a research note on Sunday, October 25th. Oppenheimer boosted their price objective on shares of International Flavors & Fragrances from $95.00 to $108.00 and gave the company an "outperform" rating in a report on Thursday, October 22nd. Zacks Research upgraded shares of International Flavors & Fragrances from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 20th. Barclays raised their target price on shares of International Flavors & Fragrances from $96.00 to $105.00 and gave the stock an "overweight" rating in a report on Friday, October 16th. Finally, UBS Group lifted their price target on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.28.

Insider Activity

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction of $85,000.00. Following the completion of the transaction, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. This trade represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 15,543 shares of company stock worth $1,315,659. 1.07% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Stock Performance

IFF opened at $94.64 on Tuesday. The firm has a market cap of $24.15 billion, a P/E ratio of 86.82, a price-to-earnings-growth ratio of 3.89 and a beta of 0.91. International Flavors & Fragrances Inc. has a 52-week low of $61.29 and a 52-week high of $95.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. The business's fifty day moving average is $87.06 and its 200-day moving average is $78.65.

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 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 quarter in the previous year, the business posted $1.15 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts expect that International Flavors & Fragrances Inc. will post 3.24 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Saturday, December 19th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 18th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently 146.79%.

International Flavors & Fragrances announced that its board has authorized a stock repurchase program on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to purchase up to 12.1% of its shares through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

About International Flavors & Fragrances

International Flavors & Fragrances Inc NYSE: IFF develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company's portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.

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