International Flavors & Fragrances Inc. (NYSE:IFF) Shares Purchased by Staley Capital Advisers Inc.

Key Points

• Staley Capital Advisers Inc. increased its stake in International Flavors & Fragrances Inc. by 11.6% during the first quarter, now holding 597,198 shares valued at approximately $46.3 million.
• The company recently announced a quarterly dividend of $0.40 per share, with a dividend yield of 2.5%.
• International Flavors & Fragrances reported earnings per share of $1.15, exceeding analysts' estimates, but its revenue decreased 4.3% year-over-year.

Staley Capital Advisers Inc. lifted its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 11.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 597,198 shares of the specialty chemicals company's stock after purchasing an additional 61,913 shares during the quarter. International Flavors & Fragrances comprises about 2.1% of Staley Capital Advisers Inc.'s investment portfolio, making the stock its 18th biggest position. Staley Capital Advisers Inc. owned about 0.23% of International Flavors & Fragrances worth $46,349,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in International Flavors & Fragrances by 11.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock valued at $6,525,000 after purchasing an additional 8,490 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in International Flavors & Fragrances by 2.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,577,723 shares of the specialty chemicals company's stock valued at $122,447,000 after buying an additional 32,005 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in International Flavors & Fragrances during the 1st quarter valued at about $1,271,000. Royal Bank of Canada lifted its holdings in International Flavors & Fragrances by 23.6% during the 4th quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock valued at $30,529,000 after buying an additional 68,970 shares in the last quarter. Finally, Chicago Capital LLC bought a new position in International Flavors & Fragrances during the 1st quarter worth about $688,000. Institutional investors own 96.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Mizuho lowered their price target on International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Tigress Financial assumed coverage on International Flavors & Fragrances in a report on Wednesday, June 4th. They issued a "buy" rating and a $105.00 price objective on the stock. Wells Fargo & Company lowered their price objective on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. UBS Group lowered their price objective on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Barclays lowered their price objective on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.36.

International Flavors & Fragrances Trading Up 1.7%

Shares of IFF traded up $1.07 during trading on Tuesday, reaching $64.53. 4,273,619 shares of the company traded hands, compared to its average volume of 2,336,759. International Flavors & Fragrances Inc. has a twelve month low of $62.33 and a twelve month high of $106.77. The stock has a market cap of $16.54 billion, a PE ratio of -41.63, a price-to-earnings-growth ratio of 2.75 and a beta of 1.04. The stock has a 50-day simple moving average of $74.17 and a 200-day simple moving average of $77.03. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.04. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The business's quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share 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. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -103.23%.

Insiders Place Their Bets

In other International Flavors & Fragrances news, EVP Stephen N. Landsman bought 12,000 shares of the business's stock in a transaction dated Monday, May 19th. The shares were acquired at an average price of $77.28 per share, with a total value of $927,360.00. Following the transaction, the executive vice president owned 12,000 shares of the company's stock, valued at approximately $927,360. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO J Erik Fyrwald bought 15,300 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $64.95 per share, for a total transaction of $993,735.00. Following the transaction, the chief executive officer directly owned 77,370 shares in the company, valued at approximately $5,025,181.50. This represents a 24.65% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 52,100 shares of company stock valued at $3,631,607. 0.17% of the stock is owned by company insiders.

About International Flavors & Fragrances

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.