International Flavors & Fragrances Inc. $IFF Shares Bought by Tidal Investments LLC

Tidal Investments LLC raised its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 11.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 132,832 shares of the specialty chemicals company’s stock after buying an additional 13,605 shares during the quarter. Tidal Investments LLC’s holdings in International Flavors & Fragrances were worth $10,523,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Studio Investment Management LLC increased its holdings in shares of International Flavors & Fragrances by 3.7% during the second quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock valued at $312,000 after acquiring an additional 138 shares in the last quarter. DNB Asset Management AS boosted its stake in International Flavors & Fragrances by 0.3% in the 4th quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock worth $3,622,000 after purchasing an additional 139 shares in the last quarter. MML Investors Services LLC grew its position in International Flavors & Fragrances by 0.8% during the 4th quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock worth $1,162,000 after purchasing an additional 140 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in International Flavors & Fragrances by 27.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock valued at $56,000 after purchasing an additional 154 shares in the last quarter. Finally, Waverly Advisors LLC increased its stake in International Flavors & Fragrances by 4.2% during the 2nd quarter. Waverly Advisors LLC now owns 3,850 shares of the specialty chemicals company’s stock valued at $305,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on IFF. Argus lifted their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. KeyCorp started coverage on International Flavors & Fragrances in a research note on Thursday. They issued a “sector weight” rating for the company. Zacks Research cut International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. UBS Group increased their price objective on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Wall Street Zen cut International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average price target of $91.40.

International Flavors & Fragrances Stock Down 0.5%

NYSE:IFF opened at $83.67 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The company’s fifty day moving average price is $82.05 and its 200-day moving average price is $77.16. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $89.32. The firm has a market capitalization of $21.35 billion, a P/E ratio of 76.76, a PEG ratio of 3.27 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. As a group, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s payout ratio is 146.79%.

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

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the completion of the transaction, the chief accounting officer directly owned 3,446 shares of the company’s stock, valued at approximately $292,910. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $83.19, for a total transaction of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,543 shares of company stock worth $1,315,659 over the last quarter. 1.07% of the stock is currently owned by insiders.

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.