International Flavors & Fragrances (NYSE:IFF) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of International Flavors & Fragrances (NYSE:IFF) from a hold rating to a sell rating in a report published on Saturday.

Several other brokerages also recently issued reports on IFF. UBS Group increased their price objective on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Citigroup decreased 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. Argus lifted their price target on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Berenberg Bank boosted their price objective on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average price target of $92.16.

International Flavors & Fragrances Trading Down 1.0%

Shares of IFF opened at $85.03 on Friday. International Flavors & Fragrances has a 12 month low of $59.14 and a 12 month high of $89.32. The stock’s 50-day moving average is $77.98 and its two-hundred day moving average is $75.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The stock has a market cap of $21.70 billion, a PE ratio of 78.01, a P/E/G ratio of 2.65 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. International Flavors & Fragrances’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. Equities analysts forecast that International Flavors & Fragrances will post 3.69 earnings per share 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. Investors of record on Friday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio (DPR) is 146.79%.

International Flavors & Fragrances announced that its Board of Directors has authorized a stock buyback plan on Tuesday, August 4th that permits the company to repurchase $2.50 billion in 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 an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at International Flavors & Fragrances

In other news, CAO Marc Birenkrant sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the completion of the sale, the chief accounting officer directly owned 3,446 shares in the company, valued at approximately $292,910. The trade was a 22.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Fribourg purchased 260,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the transaction, the director owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This represents a 10.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.07% of the stock is currently owned by insiders.

Institutional Trading of International Flavors & Fragrances

A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG grew its holdings in shares of International Flavors & Fragrances by 53.5% during the fourth quarter. UBS Group AG now owns 1,695,343 shares of the specialty chemicals company’s stock valued at $114,249,000 after purchasing an additional 590,997 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of International Flavors & Fragrances by 27.5% in the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock worth $595,166,000 after purchasing an additional 1,904,598 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of International Flavors & Fragrances by 117.0% in the 4th quarter. Swiss Life Asset Management Ltd now owns 148,377 shares of the specialty chemicals company’s stock worth $9,999,000 after purchasing an additional 80,014 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its position in International Flavors & Fragrances by 38.1% during the 4th quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 199,302 shares of the specialty chemicals company’s stock valued at $13,431,000 after purchasing an additional 54,971 shares during the period. Finally, Strs Ohio grew its stake in International Flavors & Fragrances by 346.2% during the 4th quarter. Strs Ohio now owns 27,337 shares of the specialty chemicals company’s stock worth $1,842,000 after buying an additional 21,211 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

International Flavors & Fragrances Company Profile

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.