International Flavors & Fragrances (NYSE:IFF) Price Target Raised to $95.00

International Flavors & Fragrances (NYSE:IFF) had its target price lifted by Argus from $85.00 to $95.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

A number of other equities analysts have also commented on IFF. Morgan Stanley boosted 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. Benchmark raised their price objective on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup cut their target price on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. 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. Finally, Zacks Research upgraded International Flavors & Fragrances from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average target price of $92.69.

International Flavors & Fragrances Stock Down 0.1%

Shares of NYSE IFF opened at $84.59 on Wednesday. The stock has a market cap of $21.58 billion, a PE ratio of 77.60, a PEG ratio of 3.29 and a beta of 0.91. The business has a fifty day moving average of $84.69 and a two-hundred day moving average of $78.52. International Flavors & Fragrances has a 52-week low of $59.14 and a 52-week high of $89.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results 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). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts expect that International Flavors & Fragrances will post 3.08 earnings per share for the current fiscal year.

International Flavors & Fragrances declared that its Board of Directors has initiated a share buyback program on Tuesday, August 4th that authorizes the company to buy back $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 12.1% of its shares through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is presently 146.79%.

Insider Activity

In related 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 value of $475,680.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Marc Birenkrant sold 1,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 3,446 shares of the company’s stock, valued at $292,910. This trade represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,543 shares of company stock valued at $1,315,659 over the last three months. 1.07% of the stock is owned by insiders.

Hedge Funds Weigh In On International Flavors & Fragrances

Several hedge funds have recently added to or reduced their stakes in the company. Studio Investment Management LLC raised its holdings in International Flavors & Fragrances by 3.7% during the 2nd quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock worth $312,000 after purchasing an additional 138 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake 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 valued at $56,000 after purchasing an additional 154 shares during the last quarter. Waverly Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 4.2% in the 2nd quarter. Waverly Advisors LLC now owns 3,850 shares of the specialty chemicals company’s stock valued at $305,000 after purchasing an additional 156 shares during the last quarter. HB Wealth Management LLC grew its position in shares of International Flavors & Fragrances by 2.8% during the 2nd quarter. HB Wealth Management LLC now owns 6,272 shares of the specialty chemicals company’s stock worth $497,000 after buying an additional 171 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of International Flavors & Fragrances by 6.3% during the first quarter. QRG Capital Management Inc. now owns 3,875 shares of the specialty chemicals company’s stock worth $281,000 after buying an additional 228 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients and solutions used in food, beverages, personal care products, fragrances, household products, pharmaceuticals and other consumer goods. The company works with manufacturers to create flavors, fragrances, functional ingredients and sensory experiences for products sold under consumer brands.

IFF’s portfolio includes natural and synthetic flavor compounds, fragrance ingredients, specialty ingredients, food texturants, enzymes, cultures, probiotics and pharmaceutical excipients.