International Flavors & Fragrances (NYSE:IFF) CAO Marc Birenkrant Sells 1,000 Shares

International Flavors & Fragrances Inc. (NYSE:IFF) CAO Marc Birenkrant sold 1,000 shares of the firm’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 transaction, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. This represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF traded down $0.86 during trading on Monday, hitting $85.03. 1,814,694 shares of the company traded hands, compared to its average volume of 1,871,533. 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 business’s fifty day moving average is $77.77 and its 200-day moving average is $75.50. The stock has a market capitalization of $21.70 billion, a price-to-earnings ratio of 78.01, a PEG ratio of 2.65 and a beta of 0.93. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $89.32.

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). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts predict that International Flavors & Fragrances Inc. will post 3.69 earnings per share for the current fiscal year.

International Flavors & Fragrances declared that its Board of Directors has initiated a stock repurchase plan 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 plans are usually an indication that the company’s board believes its stock is undervalued.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 146.79%.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IFF. Lloyd Advisory Services LLC. acquired a new position in shares of International Flavors & Fragrances during the 4th quarter valued at $27,000. Root Financial Partners LLC lifted its holdings in shares of 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 valued at $40,000 after buying an additional 274 shares during the period. Geneos Wealth Management Inc. boosted its stake in International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in International Flavors & Fragrances by 884.1% during the second 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, EFG International AG bought a new stake in International Flavors & Fragrances in the fourth quarter worth about $73,000. 96.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IFF shares. Berenberg Bank increased their price objective on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a report on Thursday, May 7th. Zacks Research lowered shares of International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Morgan Stanley raised 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 note on Wednesday, July 1st. Finally, Barclays lifted their price target on International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Friday. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.16.

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.