International Flavors & Fragrances (NYSE:IFF) Hits New 52-Week High – Time to Buy?

International Flavors & Fragrances Inc. (NYSE:IFF) shares hit a new 52-week high on Wednesday . The company traded as high as $89.32 and last traded at $84.87, with a volume of 380185 shares changing hands. The stock had previously closed at $80.89.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, June 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of International Flavors & Fragrances in a research report on Monday. Benchmark initiated coverage on shares of International Flavors & Fragrances in a research note on Tuesday, June 9th. They set a “buy” rating and a $100.00 target price for the company. Barclays boosted their price target on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, BNP Paribas Exane increased their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.16.

International Flavors & Fragrances Trading Up 8.2%

The company’s fifty day moving average is $77.22 and its 200-day moving average is $75.19. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $22.34 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.02 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the firm earned $1.15 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s payout ratio is currently 48.93%.

International Flavors & Fragrances announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 4th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 12.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 260,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the transaction, the director directly owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This represents a 10.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lloyd Advisory Services LLC. acquired a new position in shares of International Flavors & Fragrances in the 4th quarter valued at $27,000. Root Financial Partners LLC lifted its holdings in shares of International Flavors & Fragrances by 97.9% during the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 274 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of International Flavors & Fragrances by 884.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 610 shares during the last quarter. Finally, EFG International AG acquired a new stake in shares of International Flavors & Fragrances during the 4th quarter worth about $73,000. Institutional investors own 96.02% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.