International Flavors & Fragrances Inc. (NYSE:IFF) Shares Purchased by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG increased its stake in International Flavors & Fragrances Inc. by 16.2% in Q1, now owning 55,938 shares valued at approximately $4.28 million.
• In the last 90 days, insiders acquired 22,050 shares of the company's stock, reflecting a stronger confidence in the company's future.
• International Flavors & Fragrances recently announced a $0.40 quarterly dividend, signifying a 2.3% yield, with the ex-dividend date set for September 29th.

Raiffeisen Bank International AG lifted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 16.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 55,938 shares of the specialty chemicals company's stock after purchasing an additional 7,819 shares during the period. Raiffeisen Bank International AG's holdings in International Flavors & Fragrances were worth $4,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dodge & Cox raised its stake in International Flavors & Fragrances by 11.9% during the fourth quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock worth $2,658,063,000 after purchasing an additional 3,355,381 shares during the period. Freemont Capital Pte Ltd acquired a new position in International Flavors & Fragrances during the 4th quarter worth $2,143,882,000. First Pacific Advisors LP increased its stake in shares of International Flavors & Fragrances by 0.8% during the first quarter. First Pacific Advisors LP now owns 4,062,075 shares of the specialty chemicals company's stock worth $315,258,000 after buying an additional 32,302 shares during the period. Northern Trust Corp raised its holdings in shares of International Flavors & Fragrances by 19.9% in the 4th quarter. Northern Trust Corp now owns 3,407,262 shares of the specialty chemicals company's stock valued at $288,084,000 after purchasing an additional 565,769 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of International Flavors & Fragrances by 20.0% during the 4th quarter. Invesco Ltd. now owns 2,595,110 shares of the specialty chemicals company's stock worth $219,417,000 after acquiring an additional 433,048 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Price Performance

IFF traded down $1.96 on Thursday, reaching $64.21. The company had a trading volume of 4,930,931 shares, compared to its average volume of 1,770,114. The business has a 50 day simple moving average of $75.15 and a 200 day simple moving average of $77.68. The company has a market cap of $16.42 billion, a price-to-earnings ratio of -41.42, a P/E/G ratio of 3.12 and a beta of 1.04. International Flavors & Fragrances Inc. has a 52-week low of $63.71 and a 52-week high of $106.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.04. International Flavors & Fragrances had a positive return on equity of 8.01% and a negative net margin of 3.48%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio is -103.23%.

Insider Transactions at International Flavors & Fragrances

In related news, EVP Stephen N. Landsman acquired 12,000 shares of the stock in a transaction on Monday, May 19th. The stock was bought at an average cost of $77.28 per share, with a total value of $927,360.00. Following the transaction, the executive vice president directly owned 12,000 shares in the company, valued at approximately $927,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mehmood Khan purchased 4,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $75.33 per share, for a total transaction of $301,320.00. Following the purchase, the director owned 4,604 shares of the company's stock, valued at approximately $346,819.32. This trade represents a 662.25% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 21,350 shares of company stock worth $1,636,712. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IFF has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Mizuho dropped their price target on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley lowered their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Citigroup raised their price objective on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.79.

International Flavors & Fragrances Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division.