International Flavors & Fragrances Inc. $IFF Position Decreased by National Pension Service

Key Points

• National Pension Service cut its IFF position by 39.5% in the second quarter, selling 24,017 shares and retaining 36,786 shares valued at approximately $2.9 million. Institutional investors and hedge funds collectively own 96.02% of the company.
• Recent insider selling totaled 15,543 shares worth about $1.32 million over 90 days. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $91.40, despite mixed individual recommendations.
• IFF reported quarterly EPS of $0.82, below the $1.07 estimate, while revenue of $1.95 billion also trailed expectations. The company authorized a $2.5 billion share-repurchase program and declared a quarterly dividend of $0.40 per share.

National Pension Service reduced its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 39.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,786 shares of the specialty chemicals company's stock after selling 24,017 shares during the quarter. National Pension Service's holdings in International Flavors & Fragrances were worth $2,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lloyd Advisory Services LLC. acquired a new position in International Flavors & Fragrances in the fourth quarter worth approximately $27,000. Root Financial Partners LLC lifted its position in shares of International Flavors & Fragrances by 97.9% during the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company's stock valued at $40,000 after acquiring an additional 274 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 884.1% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after acquiring an additional 610 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings 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 worth $56,000 after acquiring an additional 154 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at International Flavors & Fragrances

In related news, EVP Michael Deveau sold 8,825 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the sale, the executive vice president directly owned 5,199 shares in the company, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction on Monday, August 17th. The shares were 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. Over the last ninety days, insiders have sold 15,543 shares of company stock valued at $1,315,659. 1.07% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IFF. 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 report on Monday, June 1st. Zacks Research cut International Flavors & Fragrances from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. KeyCorp began coverage on International Flavors & Fragrances in a report on Thursday. They set a "sector weight" rating on the stock. Citigroup reduced their price objective on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th. Finally, UBS Group raised their target price on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.40.

International Flavors & Fragrances Price Performance

Shares of IFF opened at $83.67 on Monday. The business's 50-day moving average is $82.05 and its 200-day moving average is $77.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of 76.76, a P/E/G ratio of 3.25 and a beta of 0.94. 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 quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.25). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The business's revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts expect that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

International Flavors & Fragrances declared that its board has approved a share repurchase 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 buy up to 12.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

International Flavors & Fragrances Dividend Announcement

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

About International Flavors & Fragrances

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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