Alpine Woods Capital Investors LLC Purchases Shares of 39,770 International Flavors & Fragrances Inc. $IFF

Key Points

• Alpine Woods Capital Investors initiated a position of 39,770 IFF shares valued at approximately $3.15 million. Institutional investors collectively own 96.02% of the company.
• IFF reported quarterly EPS of $0.82, below the $1.07 analyst consensus, while revenue of $1.95 billion also missed estimates; shares opened at $81.02, down 1.0%.
• The company authorized a $2.5 billion share-repurchase program covering up to 12.1% of outstanding shares and declared a quarterly dividend of $0.40 per share, representing a 2.0% annualized yield.

Alpine Woods Capital Investors LLC bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,770 shares of the specialty chemicals company's stock, valued at approximately $3,151,000.

Several other institutional investors also recently modified their holdings of the stock. DNB Asset Management AS raised its holdings in International Flavors & Fragrances by 0.3% during the 4th quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company's stock worth $3,622,000 after buying an additional 139 shares during the period. MML Investors Services LLC grew its position in International Flavors & Fragrances by 0.8% during the 4th quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company's stock worth $1,162,000 after purchasing an additional 140 shares in the last quarter. State of Michigan Retirement System raised its stake in International Flavors & Fragrances by 0.3% during the 4th quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company's stock valued at $4,685,000 after purchasing an additional 200 shares during the period. Manning & Napier Advisors LLC raised its stake in International Flavors & Fragrances by 0.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 42,033 shares of the specialty chemicals company's stock valued at $2,855,000 after purchasing an additional 203 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of 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 valued at $46,000 after buying an additional 210 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Trading Down 1.0%

NYSE:IFF opened at $81.02 on Wednesday. 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 Inc. has a 12 month low of $59.14 and a 12 month high of $89.32. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34. The company's 50 day moving average is $79.15 and its 200-day moving average is $76.05.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released 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 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 firm's revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.15 earnings per share. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 3.06 EPS for the current year.

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

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. International Flavors & Fragrances's payout ratio is 146.79%.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the company's stock in a transaction that occurred 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. This represents a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul J. Fribourg acquired 260,000 shares of International Flavors & Fragrances stock in a transaction on Monday, June 1st. The stock was purchased at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the transaction, the director directly owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This trade represents a 10.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IFF. Rothschild & Co Redburn decreased their price objective on International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Citigroup dropped 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 note on Wednesday, June 24th. JPMorgan Chase & Co. lifted their target price on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Weiss Ratings restated a "hold (c)" rating on shares of International Flavors & Fragrances in a report on Monday, August 3rd. Finally, Argus increased their price objective on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $92.16.

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.

Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc. (NYSE:IFF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source