Nykredit A S Purchases Shares of 2,815,771 International Flavors & Fragrances Inc. $IFF

Key Points

• Nykredit A/S purchased 2.82 million shares of International Flavors & Fragrances worth approximately $223.1 million, giving it a 1.10% stake. Institutional investors collectively own 96.02% of IFF.
• IFF’s latest quarterly results fell short of expectations, with earnings of $0.82 per share versus the $1.07 consensus and revenue of $1.95 billion versus estimates of $2.62 billion. The company also approved a $2.5 billion share-repurchase program and maintained a quarterly dividend of $0.40 per share.
• IFF shares opened at $86.99, near their 52-week high of $89.32. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $91.40, although insiders have sold 15,543 shares worth about $1.32 million over the past 90 days.

Nykredit A S purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,815,771 shares of the specialty chemicals company's stock, valued at approximately $223,065,000. Nykredit A S owned 1.10% of International Flavors & Fragrances as of its most recent SEC filing.

Several other large investors have also modified their holdings of IFF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in International Flavors & Fragrances by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company's stock worth $2,042,000 after acquiring an additional 1,335 shares during the period. Jones Financial Companies Lllp boosted its holdings in International Flavors & Fragrances by 15.7% during the first quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company's stock valued at $309,000 after acquiring an additional 539 shares during the period. Empowered Funds LLC grew its position in shares of International Flavors & Fragrances by 71.5% in the first quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company's stock valued at $811,000 after purchasing an additional 4,358 shares during the last quarter. Focus Partners Wealth increased its stake in shares of International Flavors & Fragrances by 25.5% in the first quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company's stock worth $584,000 after purchasing an additional 1,530 shares during the period. Finally, 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 worth $46,000 after purchasing an additional 210 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

Insider Buying and Selling at International Flavors & Fragrances

In related news, CAO Marc Birenkrant sold 1,000 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the transaction, the chief accounting officer owned 3,446 shares in the company, valued at $292,910. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 15,543 shares of company stock worth $1,315,659. Insiders own 1.07% of the company's stock.

International Flavors & Fragrances Stock Up 1.4%

Shares of IFF opened at $86.99 on Thursday. The company has a market capitalization of $22.19 billion, a P/E ratio of 79.80, a PEG ratio of 3.34 and a beta of 0.94. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $89.32. The business's 50 day simple moving average is $81.20 and its 200-day simple moving average is $76.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share 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 business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business earned $1.15 earnings per share. The company's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

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

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.60 annualized dividend and a yield of 1.8%. International Flavors & Fragrances's dividend payout ratio is currently 146.79%.

Analyst Ratings Changes

A number of brokerages have recently commented on IFF. Morgan Stanley upped their price target on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Weiss Ratings cut shares of International Flavors & Fragrances from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, June 1st. Barclays upped their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, BNP Paribas Exane raised their price target on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of "Moderate Buy" and an average price target of $91.40.

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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