Deutsche Bank Upgrades International Flavors & Fragrances (IFF) to Buy

Deutsche Bank upgraded shares of International Flavors & Fragrances (NYSE:IFF) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat reports. They currently have $154.00 price objective on the specialty chemicals company’s stock, up from their prior price objective of $126.00.

IFF has been the topic of a number of other research reports. Zacks Investment Research upgraded International Flavors & Fragrances from a hold rating to a buy rating and set a $153.00 price target on the stock in a report on Friday, September 28th. ValuEngine upgraded International Flavors & Fragrances from a sell rating to a hold rating in a report on Thursday, September 13th. Finally, Stifel Nicolaus reiterated a hold rating and set a $139.00 price target (up previously from $135.00) on shares of International Flavors & Fragrances in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $149.33.

Shares of IFF stock opened at $138.02 on Tuesday. International Flavors & Fragrances has a 1-year low of $122.11 and a 1-year high of $157.40. The company has a current ratio of 2.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.98. The firm has a market cap of $14.74 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.02.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.05. International Flavors & Fragrances had a return on equity of 28.32% and a net margin of 8.35%. The business had revenue of $920.02 million for the quarter, compared to the consensus estimate of $899.62 million. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, equities research analysts anticipate that International Flavors & Fragrances will post 6.32 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Monday, September 24th were given a dividend of $0.73 per share. This is a boost from International Flavors & Fragrances’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, September 21st. This represents a $2.92 dividend on an annualized basis and a yield of 2.12%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 49.58%.

In other news, major shareholder Winder Investment Pte Ltd acquired 180,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Wednesday, August 8th. The stock was purchased at an average price of $134.13 per share, with a total value of $24,143,400.00. Following the completion of the transaction, the insider now owns 15,380,000 shares in the company, valued at $2,062,919,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Francisco Fortanet sold 1,389 shares of International Flavors & Fragrances stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $140.00, for a total value of $194,460.00. Following the sale, the executive vice president now directly owns 16,193 shares of the company’s stock, valued at approximately $2,267,020. The disclosure for this sale can be found here. In the last three months, insiders have purchased 856,608 shares of company stock valued at $113,787,626. Insiders own 0.48% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. lifted its position in shares of International Flavors & Fragrances by 3.9% in the second quarter. GHP Investment Advisors Inc. now owns 11,203 shares of the specialty chemicals company’s stock worth $1,389,000 after buying an additional 422 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of International Flavors & Fragrances by 11.7% in the second quarter. Riverhead Capital Management LLC now owns 4,306 shares of the specialty chemicals company’s stock worth $534,000 after buying an additional 450 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of International Flavors & Fragrances by 14.8% in the first quarter. WINTON GROUP Ltd now owns 3,501 shares of the specialty chemicals company’s stock worth $479,000 after buying an additional 451 shares during the last quarter. Creative Planning lifted its position in shares of International Flavors & Fragrances by 7.6% in the second quarter. Creative Planning now owns 6,499 shares of the specialty chemicals company’s stock worth $806,000 after buying an additional 457 shares during the last quarter. Finally, Granite Investment Advisors LLC lifted its position in shares of International Flavors & Fragrances by 3.8% in the second quarter. Granite Investment Advisors LLC now owns 13,678 shares of the specialty chemicals company’s stock worth $1,695,000 after buying an additional 501 shares during the last quarter. 73.67% of the stock is owned by hedge funds and other institutional investors.

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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