Andra AP fonden Invests $1.41 Million in International Flavors & Fragrances Inc. $IFF

Key Points

• Andra AP fonden acquired 17,793 IFF shares worth approximately $1.41 million during the second quarter. Institutional investors collectively own 96.02% of International Flavors & Fragrances.
• IFF reported quarterly EPS of $0.82, missing the $1.07 consensus estimate, while revenue of $1.95 billion also fell short of the $2.62 billion forecast. Analysts expect full-year EPS of approximately $3.08.
• 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, equivalent to a 1.9% annualized yield.

Andra AP fonden bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,793 shares of the specialty chemicals company's stock, valued at approximately $1,410,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of IFF. BlackRock Inc. bought a new position in International Flavors & Fragrances during the 2nd quarter valued at about $1,835,955,000. Geode Capital Management LLC increased its stake in International Flavors & Fragrances by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company's stock worth $454,607,000 after buying an additional 172,781 shares during the period. Nykredit A S bought a new stake in International Flavors & Fragrances during the 2nd quarter valued at about $223,065,000. Eurizon Capital SGR S.p.A. purchased a new stake in International Flavors & Fragrances in the 4th quarter valued at about $211,703,000. Finally, Bank of America Corp DE purchased a new stake in International Flavors & Fragrances in the 2nd quarter valued at about $131,760,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Trading Down 0.1%

Shares of International Flavors & Fragrances stock opened at $85.67 on Thursday. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $89.32. The firm has a market capitalization of $21.86 billion, a price-to-earnings ratio of 78.60, a PEG ratio of 3.34 and a beta of 0.94. The firm's 50 day simple moving average is $83.05 and its two-hundred day simple moving average is $77.38.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.25). The company 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 quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Analysts predict that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

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

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.9%. International Flavors & Fragrances's dividend payout ratio is presently 146.79%.

Insider Buying and Selling

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Deveau sold 8,825 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 5,199 shares of the company's stock, valued at $444,774.45. The trade was a 62.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,543 shares of company stock valued at $1,315,659 over the last ninety days. Company insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IFF. Argus lifted their target price on International Flavors & Fragrances from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Citigroup reduced their price target on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Benchmark boosted their price objective on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft lowered their target price on International Flavors & Fragrances from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, June 1st. Finally, Zacks Research upgraded shares of International Flavors & Fragrances from a "strong sell" rating to a "hold" rating in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.40.

International Flavors & Fragrances 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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