The Manufacturers Life Insurance Company Buys Shares of 861,180 International Flavors & Fragrances Inc. $IFF

The Manufacturers Life Insurance Company bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF) during the 2nd quarter, Holdings Channel.com reports. The fund bought 861,180 shares of the specialty chemicals company’s stock, valued at approximately $68,223,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IFF. DNB Asset Management AS lifted its stake in shares of 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 during the period. MML Investors Services LLC grew its position in International Flavors & Fragrances by 0.8% during the fourth quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock valued at $1,162,000 after buying an additional 140 shares during the period. State of Michigan Retirement System increased its holdings in International Flavors & Fragrances by 0.3% during the fourth quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock valued at $4,685,000 after buying an additional 200 shares during the last quarter. Manning & Napier Advisors LLC increased its holdings in International Flavors & Fragrances by 0.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 42,033 shares of the specialty chemicals company’s stock valued at $2,855,000 after buying an additional 203 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IFF shares. Rothschild & Co Redburn cut their price objective on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Benchmark raised their target price on International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft lowered their target price on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. JPMorgan Chase & Co. upped their price target on International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, BNP Paribas Exane raised their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, International Flavors & Fragrances has an average rating of “Moderate Buy” and a consensus target price of $91.40.

International Flavors & Fragrances Stock Performance

NYSE IFF opened at $87.32 on Wednesday. The business has a 50-day moving average price of $79.90 and a 200-day moving average price of $76.54. The firm has a market cap of $22.28 billion, a price-to-earnings ratio of 80.11, a price-to-earnings-growth ratio of 3.17 and a beta of 0.93. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve 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.

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

International Flavors & Fragrances Dividend Announcement

The business also recently announced 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 1.8%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s payout ratio is 146.79%.

International Flavors & Fragrances declared that its board has authorized a stock repurchase plan on Tuesday, August 4th that permits the company to buyback $2.50 billion in 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity 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 on Friday, August 7th. The shares were sold at an average price of $85.00, for a total value of $85,000.00. Following the sale, the chief accounting officer owned 3,446 shares in the company, valued at $292,910. The trade was a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Deveau sold 8,825 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $85.55, for a total transaction of $754,978.75. Following the transaction, the executive vice president directly owned 5,199 shares of the company’s stock, valued at $444,774.45. This trade represents a 62.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,543 shares of company stock worth $1,315,659 in the last three months. Insiders own 1.07% of the company’s stock.

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.