International Flavors & Fragrances (NYSE:IFF) Price Target Cut to $84.00 by Analysts at Citigroup

International Flavors & Fragrances (NYSE:IFF) had its price objective cut by Citigroup from $99.00 to $84.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other analysts have also weighed in on IFF. Stifel Nicolaus decreased their target price on International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Oppenheimer lowered their price objective on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Bank of America decreased their target price on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Wells Fargo & Company dropped their price target on International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average price target of $101.69.

International Flavors & Fragrances Price Performance

IFF stock opened at $66.75 on Tuesday. The company’s 50-day moving average price is $80.54 and its two-hundred day moving average price is $88.21. The firm has a market cap of $17.07 billion, a P/E ratio of 71.01, a P/E/G ratio of 1.45 and a beta of 1.21. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. International Flavors & Fragrances has a 12 month low of $65.85 and a 12 month high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.14. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.67 billion. On average, analysts anticipate that International Flavors & Fragrances will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a $0.40 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.40%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 170.21%.

Insider Transactions at International Flavors & Fragrances

In other news, Director Kevin O’byrne purchased 6,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $80.44 per share, with a total value of $522,860.00. Following the completion of the transaction, the director now owns 6,500 shares of the company’s stock, valued at $522,860. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in International Flavors & Fragrances in the fourth quarter worth approximately $32,000. Fairway Wealth LLC bought a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at $34,000. Rialto Wealth Management LLC bought a new position in International Flavors & Fragrances during the fourth quarter worth $42,000. Principal Securities Inc. grew its holdings in International Flavors & Fragrances by 36.6% in the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 171 shares during the period. Finally, Sugar Maple Asset Management LLC bought a new stake in International Flavors & Fragrances in the fourth quarter valued at $78,000. 96.02% of the stock is owned by institutional investors and hedge funds.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.