International Flavors & Fragrances (NYSE:IFF) Upgraded at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen upgraded shares of International Flavors & Fragrances (NYSE:IFF – Free Report) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.
Several other research analysts also recently weighed in on IFF. Vertical Research downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research note on Thursday, August 6th. Zacks Research downgraded International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. UBS Group boosted their price target on International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Benchmark increased their price objective on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Citigroup lowered 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. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.
Read Our Latest Report on International Flavors & Fragrances
International Flavors & Fragrances Trading Up 0.9%
NYSE IFF opened at $83.70 on Friday. The firm has a market cap of $21.36 billion, a PE ratio of 76.79, a price-to-earnings-growth ratio of 3.23 and a beta of 0.94. International Flavors & Fragrances has a 52 week low of $59.14 and a 52 week high of $89.32. 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 company has a 50 day moving average price of $82.62 and a 200 day moving average price of $77.25.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last released 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 firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. International Flavors & Fragrances’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that International Flavors & Fragrances will post 3.08 EPS for the current fiscal year.
International Flavors & Fragrances Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s payout ratio is presently 146.79%.
International Flavors & Fragrances declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 4th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 12.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Insider Transactions at International Flavors & Fragrances
In related news, EVP Michael Deveau sold 8,825 shares of International Flavors & Fragrances stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the sale, the executive vice president owned 5,199 shares of the company’s stock, valued at $444,774.45. The trade was a 62.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the company’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 SEC filing for this sale provides additional information. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 over the last three months. 1.07% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IFF. Sequoia Financial Advisors LLC boosted its holdings in International Flavors & Fragrances by 20.4% in the second quarter. Sequoia Financial Advisors LLC now owns 7,416 shares of the specialty chemicals company’s stock valued at $587,000 after purchasing an additional 1,256 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of International Flavors & Fragrances by 11.4% in the 2nd quarter. Tidal Investments LLC now owns 132,832 shares of the specialty chemicals company’s stock valued at $10,523,000 after buying an additional 13,605 shares during the period. Cidel Asset Management Inc. acquired a new position in shares of International Flavors & Fragrances in the 2nd quarter valued at about $234,000. NewEdge Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 20.2% in the second quarter. NewEdge Advisors LLC now owns 19,576 shares of the specialty chemicals company’s stock worth $1,551,000 after buying an additional 3,295 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in International Flavors & Fragrances by 78.3% during the second quarter. Squarepoint Ops LLC now owns 12,142 shares of the specialty chemicals company’s stock valued at $962,000 after acquiring an additional 5,334 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.
About International Flavors & Fragrances
International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and related solutions used in consumer and industrial products. Its offerings help customers create or enhance the taste, aroma, texture, appearance and performance of products across the food, beverage, personal care, home care, health and pharmaceutical markets.
IFF’s business includes natural and synthetic flavor compounds, fragrance ingredients and compositions, cosmetic and personal-care ingredients, specialty food ingredients, enzymes, cultures, probiotics and other bioscience-based solutions.
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