2,025,881 Shares in International Flavors & Fragrances Inc. $IFF Purchased by Nykredit A S

Key Points

• Nykredit A S purchased 2,025,881 shares of International Flavors & Fragrances, valued at approximately $160.5 million and representing about 0.79% of the company. Institutional investors collectively own 96.02% of IFF.
• IFF reported quarterly earnings of $0.82 per share, below the $1.07 consensus estimate, while revenue of $1.95 billion also missed expectations. Shares opened at $84.85, near the upper end of their 12-month range.
• The company maintained its quarterly dividend at $0.40 per share and authorized a $2.5 billion share buyback, covering up to 12.1% of outstanding shares. Analysts maintain a consensus “Moderate Buy” rating with a $91.40 average price target.

Nykredit A S purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,025,881 shares of the specialty chemicals company's stock, valued at approximately $160,490,000. Nykredit A S owned approximately 0.79% of International Flavors & Fragrances as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Lloyd Advisory Services LLC. bought a new position in International Flavors & Fragrances in the fourth quarter worth $27,000. Root Financial Partners LLC increased its holdings in 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 buying an additional 274 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of International Flavors & Fragrances by 27.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company's stock valued at $56,000 after buying an additional 154 shares in the last quarter. Westpac Banking Corp bought a new position in shares of International Flavors & Fragrances during the 2nd quarter worth about $91,000. Finally, IFP Advisors Inc boosted its position in shares of International Flavors & Fragrances by 575.8% during the 4th quarter. IFP Advisors Inc now owns 1,622 shares of the specialty chemicals company's stock valued at $109,000 after acquiring an additional 1,382 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

Insider Buying and Selling

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 stock was sold at an average price of $85.55, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,543 shares of company stock worth $1,315,659 in the last three months. Insiders own 1.07% of the company's stock.

International Flavors & Fragrances Trading Up 0.5%

Shares of International Flavors & Fragrances stock opened at $84.85 on Friday. 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 $21.65 billion, a P/E ratio of 77.85, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94. The company has a 50-day simple moving average of $82.34 and a 200 day simple moving average of $77.21. 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 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 firm had revenue of $1.95 billion for 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%.International Flavors & Fragrances's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. Research analysts expect that International Flavors & Fragrances Inc. will post 3.08 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. Stockholders of record on Friday, September 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances's payout ratio is presently 146.79%.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Argus lifted their price objective on International Flavors & Fragrances from $80.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Weiss Ratings lowered International Flavors & Fragrances from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Barclays increased their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Citigroup cut their target price on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company 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 develops and manufactures ingredients, flavor systems, fragrances and related solutions used in consumer and industrial products. Its offerings help customers create or enhance the taste, aroma, texture, appearance and performance of products across the food, beverage, personal care, home care, health and pharmaceutical markets.

IFF's business includes natural and synthetic flavor compounds, fragrance ingredients and compositions, cosmetic and personal-care ingredients, specialty food ingredients, enzymes, cultures, probiotics and other bioscience-based solutions.

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