JPMorgan Chase lowered shares of International Flavors & Fragrances (NYSE:IFF) from a neutral rating to an underweight rating in a report issued on Friday, March 16th, Marketbeat.com reports. The firm currently has $130.00 price target on the specialty chemicals company’s stock, down from their prior price target of $140.00.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut International Flavors & Fragrances from a buy rating to a hold rating in a report on Tuesday, January 2nd. Evercore ISI raised International Flavors & Fragrances from an in-line rating to an outperform rating in a report on Wednesday, January 17th. Deutsche Bank decreased their price target on International Flavors & Fragrances from $150.00 to $147.00 and set a hold rating on the stock in a research note on Thursday, February 15th. Finally, KeyCorp decreased their price target on International Flavors & Fragrances from $162.00 to $156.00 and set an overweight rating on the stock in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $150.13.
Shares of NYSE:IFF traded down $2.95 during mid-day trading on Friday, reaching $135.33. 274,094 shares of the stock were exchanged, compared to its average volume of 403,929. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.62 and a current ratio of 2.47. The company has a market cap of $10,914.11, a PE ratio of 23.48, a PEG ratio of 2.59 and a beta of 1.12. International Flavors & Fragrances has a one year low of $128.42 and a one year high of $157.40.
International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Wednesday, February 14th. The specialty chemicals company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.10. The company had revenue of $854.60 million during the quarter, compared to analysts’ expectations of $832.26 million. International Flavors & Fragrances had a return on equity of 27.69% and a net margin of 8.70%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. research analysts predict that International Flavors & Fragrances will post 6.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Monday, March 26th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, March 23rd. International Flavors & Fragrances’s payout ratio is presently 46.86%.
In related news, EVP Francisco Fortanet sold 603 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $141.94, for a total transaction of $85,589.82. Following the transaction, the executive vice president now directly owns 38,393 shares of the company’s stock, valued at approximately $5,449,502.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Winder Investment Pte Ltd purchased 55,596 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were purchased at an average cost of $134.01 per share, for a total transaction of $7,450,419.96. Following the completion of the purchase, the insider now owns 10,630,193 shares in the company, valued at approximately $1,424,552,163.93. The disclosure for this purchase can be found here. Insiders have acquired a total of 134,800 shares of company stock worth $18,088,761 over the last ninety days. Company insiders own 0.48% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Nova Scotia Trust Co. bought a new stake in International Flavors & Fragrances during the 3rd quarter worth approximately $118,000. Baldwin Brothers Inc. MA bought a new stake in International Flavors & Fragrances during the 4th quarter worth approximately $188,000. SeaCrest Wealth Management LLC bought a new stake in International Flavors & Fragrances during the 4th quarter worth approximately $190,000. Advisor Partners LLC bought a new stake in International Flavors & Fragrances during the 4th quarter worth approximately $244,000. Finally, Visionary Asset Management Inc. bought a new stake in International Flavors & Fragrances during the 3rd quarter worth approximately $237,000. 83.58% of the stock is owned by hedge funds and other institutional investors.
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About International Flavors & Fragrances
International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through two segments, Flavors and Fragrances. The Flavors segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.
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