17,642 Shares in International Flavors & Fragrances Inc. $IFF Acquired by PenderFund Capital Management Ltd.

PenderFund Capital Management Ltd. purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,642 shares of the specialty chemicals company’s stock, valued at approximately $1,398,000.

Other large investors have also recently bought and sold shares of the company. Lloyd Advisory Services LLC. bought a new position in shares of International Flavors & Fragrances during the fourth quarter valued at $27,000. Root Financial Partners LLC grew its holdings in shares of International Flavors & Fragrances by 97.9% in the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 274 shares during the last quarter. Geneos Wealth Management Inc. increased 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 in the last quarter. Transamerica Financial Advisors LLC increased its position in shares of International Flavors & Fragrances by 884.1% during 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 in the last quarter. Finally, EFG International AG bought a new position in International Flavors & Fragrances during the 4th quarter valued at about $73,000. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Stock Down 0.3%

Shares of NYSE:IFF opened at $86.86 on Friday. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $89.32. The company’s 50-day moving average price is $80.32 and its two-hundred day moving average price is $76.72. 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 $22.16 billion, a P/E ratio of 79.69, a P/E/G ratio of 3.22 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the business posted $1.15 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.8%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 146.79%.

International Flavors & Fragrances declared that its board has initiated a stock repurchase 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 reacquire up to 12.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup reduced their price target on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Jefferies Financial Group lifted their target price on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Barclays boosted their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings lowered International Flavors & Fragrances from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Finally, UBS Group raised their price target on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.40.

Insider Activity at International Flavors & Fragrances

In related news, CAO Marc Birenkrant sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Deveau sold 8,825 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $85.55, for a total value of $754,978.75. Following the transaction, the executive vice president directly owned 5,199 shares in the company, valued at approximately $444,774.45. This represents a 62.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 15,543 shares of company stock worth $1,315,659. Company 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.