Great Lakes Advisors LLC Makes New $12.41 Million Investment in International Flavors & Fragrances Inc. $IFF

Key Points

• Great Lakes Advisors purchased 156,717 IFF shares worth approximately $12.4 million, while institutional investors collectively own 96.02% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy, six Hold and one Sell rating; the consensus is a “Moderate Buy” with a $92.16 average price target.
• IFF reported quarterly EPS of $0.82, below the $1.07 consensus, and revenue of $1.95 billion versus the $2.62 billion estimate. The company declared a $0.40 quarterly dividend and authorized a $2.5 billion share-repurchase program.

Great Lakes Advisors LLC bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 156,717 shares of the specialty chemicals company's stock, valued at approximately $12,415,000. Great Lakes Advisors LLC owned about 0.06% of International Flavors & Fragrances at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of International Flavors & Fragrances during the 2nd quarter valued at about $1,835,955,000. State Street Corp lifted its holdings in International Flavors & Fragrances by 1.1% in the fourth quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company's stock worth $751,875,000 after acquiring an additional 121,260 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in International Flavors & Fragrances by 27.5% in the fourth quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company's stock valued at $595,166,000 after acquiring an additional 1,904,598 shares during the period. Invesco Ltd. boosted its stake in International Flavors & Fragrances by 4.9% in the fourth quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company's stock valued at $506,760,000 after acquiring an additional 352,636 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of International Flavors & Fragrances by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company's stock valued at $454,607,000 after purchasing an additional 172,781 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IFF shares. Citigroup cut their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Vertical Research lowered International Flavors & Fragrances from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft cut their target price on International Flavors & Fragrances from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, June 1st. Argus upped their price target on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Finally, BNP Paribas Exane increased their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Thirteen investment 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $92.16.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 260,000 shares of the business's stock in a transaction on Monday, June 1st. The stock was bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the acquisition, the director owned 2,682,730 shares of the company's stock, valued at $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Marc Birenkrant sold 1,000 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the transaction, the chief accounting officer owned 3,446 shares of the company's stock, valued at approximately $292,910. This trade represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.07% of the company's stock.

International Flavors & Fragrances Stock Performance

IFF stock opened at $81.02 on Wednesday. The company has a 50-day simple moving average of $79.15 and a 200 day simple moving average of $76.05. The company has a market capitalization of $20.67 billion, a P/E ratio of 74.33, a PEG ratio of 3.13 and a beta of 0.93. 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 Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $89.32.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its earnings results 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 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 revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. Sell-side analysts predict that International Flavors & Fragrances Inc. will post 3.06 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. International Flavors & Fragrances's dividend payout ratio is 146.79%.

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

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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