Corient Private Wealth LP Purchases New Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• Corient Private Wealth LP purchased 136,467 shares of International Flavors & Fragrances, valued at approximately $10.8 million, giving it a 0.05% stake. Institutional investors and hedge funds collectively own 96.02% of IFF.
• IFF’s latest quarterly results fell short of expectations, with adjusted EPS of $0.82 versus the $1.07 consensus and revenue of $1.95 billion versus estimates of $2.62 billion. Analysts project full-year EPS of $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 per share, although its 146.79% payout ratio exceeds earnings.

Corient Private Wealth LP purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 136,467 shares of the specialty chemicals company's stock, valued at approximately $10,811,000. Corient Private Wealth LP owned approximately 0.05% of International Flavors & Fragrances at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. bought a new position in shares of International Flavors & Fragrances during the fourth quarter worth about $27,000. Root Financial Partners LLC increased its holdings in International Flavors & Fragrances by 97.9% in the first 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 last quarter. Geneos Wealth Management Inc. raised its stake in 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. Transamerica Financial Advisors LLC raised its stake in International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock valued at $50,000 after buying an additional 610 shares in the last quarter. Finally, EFG International AG bought a new position in International Flavors & Fragrances during the 4th quarter worth approximately $73,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Paul J. Fribourg acquired 260,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the acquisition, the director directly owned 2,682,730 shares of the company's stock, valued at $199,273,184.40. This trade represents a 10.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Deveau sold 8,825 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the transaction, the executive vice president owned 5,199 shares of the company's stock, valued at $444,774.45. This represents a 62.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 15,543 shares of company stock worth $1,315,659. Insiders own 1.07% of the company's stock.

International Flavors & Fragrances Price Performance

NYSE IFF opened at $87.88 on Friday. The company has a 50-day moving average price of $80.54 and a two-hundred day moving average price of $76.80. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $89.32. The stock has a market cap of $22.42 billion, a price-to-earnings ratio of 80.62, a price-to-earnings-growth ratio of 3.25 and a beta of 0.93. 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 (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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The business's quarterly revenue was up 1.8% on a year-over-year basis. Analysts forecast that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances declared that its board has initiated a stock repurchase plan on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 12.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances's payout ratio is 146.79%.

Analysts Set New Price Targets

IFF has been the subject of a number of research analyst reports. Weiss Ratings downgraded International Flavors & Fragrances from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Morgan Stanley boosted their target price on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, June 1st. Rothschild & Co Redburn decreased their price target on shares of International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Finally, Jefferies Financial Group boosted their price objective on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.40.

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.

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