Rakuten Investment Management Inc. Takes $3.17 Million Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Rakuten Investment Management acquired 41,398 IFF shares worth approximately $3.17 million, while institutional investors collectively own 96.02% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings, six Holds and one Sell rating; the stock has an average target price of $91.40 versus a recent price of $87.88.
• IFF missed quarterly expectations, reporting $0.82 in earnings per share versus $1.07 expected and $1.95 billion in revenue versus $2.62 billion forecast, but authorized a $2.5 billion share buyback and declared a quarterly dividend of $0.40 per share.

Rakuten Investment Management Inc. acquired a new position in shares of 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 and Exchange Commission. The institutional investor acquired 41,398 shares of the specialty chemicals company's stock, valued at approximately $3,167,000.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of International Flavors & Fragrances during the second quarter valued at about $1,835,955,000. Invesco Ltd. boosted its position in shares of International Flavors & Fragrances by 131.3% in the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company's stock valued at $441,068,000 after acquiring an additional 4,069,075 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in shares of International Flavors & Fragrances in the fourth quarter valued at approximately $211,703,000. Ameriprise Financial Inc. grew its stake in International Flavors & Fragrances by 1,842.0% during the second quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company's stock valued at $183,264,000 after acquiring an additional 2,363,307 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in International Flavors & Fragrances by 27.5% during the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company's stock worth $595,166,000 after acquiring an additional 1,904,598 shares during the period. Institutional investors own 96.02% of the company's stock.

Insiders Place Their Bets

In other news, EVP Michael Deveau sold 8,825 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value 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. The trade was a 62.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Marc Birenkrant sold 1,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the sale, the chief accounting officer directly owned 3,446 shares of the company's stock, valued at $292,910. This trade represents a 22.49% decrease in their position. 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 currently owned by corporate insiders.

Analyst Ratings Changes

IFF has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, June 1st. Oppenheimer upped their price target on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Jefferies Financial Group increased their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Zacks Research cut International Flavors & Fragrances from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Twelve equities research 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.com, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and an average target price of $91.40.

International Flavors & Fragrances Trading Down 0.1%

Shares of IFF stock opened at $87.88 on Monday. The business has a 50-day moving average price of $80.54 and a two-hundred day moving average price of $76.81. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $89.32. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34. The firm has a market cap of $22.42 billion, a P/E ratio of 80.62, a price-to-earnings-growth ratio of 3.25 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. International Flavors & Fragrances's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 earnings per share. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

International Flavors & Fragrances declared that its Board of Directors has initiated a share buyback 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 repurchase up to 12.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances's dividend payout ratio (DPR) is presently 146.79%.

About International Flavors & Fragrances

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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