International Flavors & Fragrances Inc. $IFF Stock Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its IFF position by 815.7% in the second quarter, bringing its holdings to 35,485 shares worth approximately $2.8 million. Institutional investors collectively own 96.02% of the company.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $91.40, compared with the stock’s reported opening price of $85.71.
• IFF reported quarterly EPS of $0.82, below the $1.07 consensus estimate, while revenue of $1.95 billion also missed expectations. The company declared a $0.40 quarterly dividend and authorized a $2.5 billion share-repurchase program.

QRG Capital Management Inc. raised its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 815.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,485 shares of the specialty chemicals company's stock after acquiring an additional 31,610 shares during the quarter. QRG Capital Management Inc.'s holdings in International Flavors & Fragrances were worth $2,811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in International Flavors & Fragrances in the second quarter valued at $1,835,955,000. Geode Capital Management LLC raised its holdings in 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 worth $454,607,000 after purchasing an additional 172,781 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in International Flavors & Fragrances in the fourth quarter valued at about $211,703,000. Nykredit A S purchased a new stake in International Flavors & Fragrances in the 2nd quarter valued at approximately $223,065,000. Finally, Dimensional Fund Advisors LP increased its position in International Flavors & Fragrances by 8.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,809,090 shares of the specialty chemicals company's stock worth $131,222,000 after purchasing an additional 147,896 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Analyst Upgrades and Downgrades

IFF has been the subject of a number of analyst reports. Wall Street Zen raised International Flavors & Fragrances from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. UBS Group upped their price objective on International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Argus increased their price objective on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Weiss Ratings downgraded International Flavors & Fragrances from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Finally, KeyCorp assumed coverage on shares of International Flavors & Fragrances in a research report on Thursday, September 10th. They set a "sector weight" rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.40.

International Flavors & Fragrances Trading Down 0.2%

Shares of IFF stock opened at $85.71 on Friday. The firm has a 50-day moving average price of $83.36 and a 200 day moving average price of $77.52. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 78.64, a PEG ratio of 3.34 and a beta of 0.94. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month 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 business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 EPS. Research analysts forecast that International Flavors & Fragrances Inc. will post 3.08 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors 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 yield of 1.9%. International Flavors & Fragrances's dividend payout ratio (DPR) is presently 146.79%.

International Flavors & Fragrances announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 4th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances 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 shares were 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 SEC, which can be accessed through the SEC website. Also, 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 of the company's stock, valued at $444,774.45. The trade was a 62.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,543 shares of company stock valued at $1,315,659 over the last ninety days. Corporate insiders own 1.07% of the company's stock.

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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