Legal & General Group Plc Takes Position in International Flavors & Fragrances Inc. $IFF

Legal & General Group Plc purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,164,404 shares of the specialty chemicals company’s stock, valued at approximately $92,259,000.

Other large investors have also bought and sold shares of the company. Lloyd Advisory Services LLC. bought a new position in International Flavors & Fragrances in the fourth quarter valued at approximately $27,000. Root Financial Partners LLC raised its position in shares of International Flavors & Fragrances by 97.9% during the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 274 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 210 shares during the period. Transamerica Financial Advisors LLC boosted its position in shares of International Flavors & Fragrances by 884.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 610 shares during the last quarter. Finally, EFG International AG bought a new position in shares of International Flavors & Fragrances in the 4th quarter worth $73,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IFF shares. Rothschild & Co Redburn dropped their price objective on International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Wall Street Zen lowered International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research cut International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of 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. Finally, Citigroup reduced their price objective on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.40.

International Flavors & Fragrances Stock Performance

IFF stock opened at $86.86 on Friday. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $89.32. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. The firm has a market cap of $22.16 billion, a PE ratio of 79.69, a P/E/G ratio of 3.22 and a beta of 0.93. The business’s 50-day moving average price is $80.32 and its two-hundred day moving average price is $76.72.

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

International Flavors & Fragrances Announces Dividend

The business also recently declared 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 is Friday, September 18th. International Flavors & Fragrances’s dividend 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 repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 12.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg acquired 260,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the transaction, the director owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. The trade was a 10.73% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 15,543 shares of company stock valued at $1,315,659. 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.