Murphy Pohlad Asset Management LLC Takes Position in International Flavors & Fragrances Inc. $IFF
by Teresa Graham · The Cerbat GemMurphy Pohlad Asset Management LLC bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,690 shares of the specialty chemicals company’s stock, valued at approximately $1,481,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. bought a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at about $27,000. Root Financial Partners LLC lifted its holdings in International Flavors & Fragrances by 97.9% in the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 274 shares during the period. Geneos Wealth Management Inc. boosted its position in 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 valued at $46,000 after acquiring an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings 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 acquiring an additional 610 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of International Flavors & Fragrances by 27.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 154 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 recently weighed in on IFF. Zacks Research lowered International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Wall Street Zen lowered International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings cut shares of International Flavors & Fragrances from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 17th. UBS Group increased their price target on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Barclays lifted their price target on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.
Check Out Our Latest Research Report on International Flavors & Fragrances
Insiders Place Their Bets
In other news, 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 shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Marc Birenkrant sold 1,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was 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 approximately $292,910. This trade represents a 22.49% decrease in their ownership of the stock. 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 in the last three months. Corporate insiders own 1.07% of the company’s stock.
International Flavors & Fragrances Price Performance
International Flavors & Fragrances stock traded down $0.56 during midday trading on Tuesday, reaching $85.79. 1,678,467 shares of the stock traded hands, compared to its average volume of 1,813,092. 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 Inc. has a 12 month low of $59.14 and a 12 month high of $89.32. The stock’s fifty day moving average is $81.84 and its 200-day moving average is $77.05. The stock has a market cap of $21.89 billion, a P/E ratio of 78.71, a PEG ratio of 3.36 and a beta of 0.94.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last posted 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 analysts’ expectations 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 quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous 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 declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 146.79%.
International Flavors & Fragrances announced that its board has approved a share buyback program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
International Flavors & Fragrances Company Profile
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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