Brokerages Set International Flavors & Fragrances Inc. (NYSE:IFF) PT at $92.16

Shares of International Flavors & Fragrances Inc. (NYSE:IFF) have earned an average recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $92.1556.

Several brokerages have weighed in on IFF. Weiss Ratings reiterated a “hold (c)” rating on shares of International Flavors & Fragrances in a research note on Monday, August 3rd. Jefferies Financial Group raised their target price on shares of International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Morgan Stanley lifted their price target on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Rothschild & Co Redburn cut their price target on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Finally, Citigroup reduced their price target on 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.

Insider Buying and Selling

In other news, Director Paul J. Fribourg acquired 260,000 shares of International Flavors & Fragrances stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the purchase, the director directly owned 2,682,730 shares of the company’s stock, valued at approximately $199,273,184.40. This represents a 10.73% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Deveau sold 8,825 shares of the firm’s 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 completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.07% of the stock is owned by company insiders.

Institutional Trading of International Flavors & Fragrances

Several large investors have recently made changes to their positions in IFF. BlackRock Inc. bought a new position in International Flavors & Fragrances in the second quarter valued at approximately $1,835,955,000. State Street Corp lifted its stake in International Flavors & Fragrances by 1.1% during the fourth quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company’s stock worth $751,875,000 after purchasing an additional 121,260 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of International Flavors & Fragrances by 27.5% in the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock valued at $595,166,000 after purchasing an additional 1,904,598 shares in the last quarter. Invesco Ltd. increased its stake in shares of International Flavors & Fragrances by 4.9% in the 4th quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock valued at $506,760,000 after purchasing an additional 352,636 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of International Flavors & Fragrances by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company’s stock worth $454,607,000 after buying an additional 172,781 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 2.7%

IFF stock opened at $81.88 on Tuesday. International Flavors & Fragrances has a fifty-two week low of $59.14 and a fifty-two week high of $89.32. 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 stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 75.12, a PEG ratio of 3.13 and a beta of 0.93. The business’s fifty day moving average price is $79.04 and its two-hundred day moving average price is $75.98.

International Flavors & Fragrances (NYSE:IFF) last announced 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). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the firm posted $1.15 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that International Flavors & Fragrances will post 3.06 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is presently 146.79%.

International Flavors & Fragrances announced that its board has initiated a stock repurchase program on Tuesday, August 4th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 12.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.