International Flavors & Fragrances Inc. $IFF Shares Bought by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group increased its IFF stake by 7.2% in the second quarter, purchasing 15,028 additional shares and ending the period with 222,987 shares worth approximately $17.7 million. Institutional investors collectively own 96.02% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $91.40, although ratings and targets varied widely from “Strong Sell” to “Buy.”
• IFF missed quarterly expectations, reporting $0.82 in adjusted EPS versus $1.07 expected and revenue of $1.95 billion versus $2.62 billion estimated. The company nevertheless authorized a $2.5 billion share buyback and declared a quarterly dividend of $0.40 per share.

Alyeska Investment Group L.P. increased its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 222,987 shares of the specialty chemicals company's stock after buying an additional 15,028 shares during the quarter. Alyeska Investment Group L.P. owned about 0.09% of International Flavors & Fragrances worth $17,665,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Lloyd Advisory Services LLC. acquired a new stake in International Flavors & Fragrances during the fourth quarter valued at approximately $27,000. Root Financial Partners LLC grew its position 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 worth $40,000 after buying an additional 274 shares during the last quarter. Geneos Wealth Management Inc. grew its position in International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after buying an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC increased its holdings in shares of International Flavors & Fragrances by 884.1% in 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 acquired a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at $73,000. Institutional investors own 96.02% of the company's stock.

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.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Zacks Research downgraded International Flavors & Fragrances from a "hold" rating to a "strong sell" rating in a report on Thursday, August 6th. Barclays raised their target price on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Rothschild & Co Redburn dropped their target price on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Benchmark upped their price target on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Citigroup decreased 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. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of "Moderate Buy" and an average target price of $91.40.

International Flavors & Fragrances Price Performance

Shares of IFF opened at $86.37 on Tuesday. The business's 50-day moving average is $80.75 and its 200-day moving average is $76.88. 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 $22.04 billion, a price-to-earnings ratio of 79.24, a P/E/G ratio of 3.25 and a beta of 0.93. 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 posted its quarterly 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 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 business's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. Equities research analysts expect that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

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

International Flavors & Fragrances Announces Dividend

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%.

International Flavors & Fragrances 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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