Barclays set a $131.00 price objective on International Flavors & Fragrances (NYSE:IFF) in a report issued on Thursday, March 15th. The brokerage currently has a sell rating on the specialty chemicals company’s stock.
Several other research firms have also issued reports on IFF. Zacks Investment Research upgraded International Flavors & Fragrances from a hold rating to a buy rating and set a $175.00 target price for the company in a research report on Tuesday, January 9th. Evercore ISI upgraded International Flavors & Fragrances from an in-line rating to an outperform rating in a research report on Wednesday, January 17th. KeyCorp decreased their price objective on International Flavors & Fragrances from $162.00 to $156.00 and set an overweight rating for the company in a research report on Friday, February 16th. Deutsche Bank decreased their price objective on International Flavors & Fragrances from $150.00 to $147.00 and set a hold rating for the company in a research report on Thursday, February 15th. Finally, JPMorgan Chase lowered International Flavors & Fragrances from a neutral rating to an underweight rating and decreased their price objective for the company from $140.00 to $130.00 in a research report on Friday, March 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $150.13.
Shares of IFF stock opened at $135.33 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.47 and a quick ratio of 1.62. The stock has a market capitalization of $10,681.33, a P/E ratio of 22.98, a PEG ratio of 2.53 and a beta of 1.12. International Flavors & Fragrances has a 12 month low of $128.42 and a 12 month high of $157.40.
International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Wednesday, February 14th. The specialty chemicals company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.10. The firm had revenue of $854.60 million during the quarter, compared to analyst estimates of $832.26 million. International Flavors & Fragrances had a return on equity of 27.69% and a net margin of 8.70%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. equities analysts anticipate that International Flavors & Fragrances will post 6.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Monday, March 26th were paid a $0.69 dividend. 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 46.86%.
In related news, major shareholder Winder Investment Pte Ltd acquired 4,800 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were bought at an average price of $134.59 per share, for a total transaction of $646,032.00. Following the purchase, the insider now directly owns 10,654,993 shares in the company, valued at approximately $1,434,055,507.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $85,589.82. Following the sale, the executive vice president now owns 38,393 shares in the company, valued at approximately $5,449,502.42. The disclosure for this sale can be found here. Insiders acquired a total of 134,800 shares of company stock worth $18,088,761 in the last 90 days. Company insiders own 0.48% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB raised its stake in International Flavors & Fragrances by 7.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 17,145 shares of the specialty chemicals company’s stock valued at $2,616,000 after acquiring an additional 1,165 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in International Flavors & Fragrances by 19.3% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,844 shares of the specialty chemicals company’s stock valued at $5,928,000 after buying an additional 6,281 shares in the last quarter. We Are One Seven LLC acquired a new position in International Flavors & Fragrances in the 4th quarter valued at $387,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in International Flavors & Fragrances by 78.9% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the specialty chemicals company’s stock valued at $519,000 after buying an additional 1,500 shares in the last quarter. Finally, Slow Capital Inc. acquired a new position in International Flavors & Fragrances in the 4th quarter valued at $472,000. Institutional investors and hedge funds own 83.58% of the company’s stock.
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International Flavors & Fragrances Company Profile
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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