International Flavors & Fragrances (NYSE:IFF) Reaches New 1-Year High – Here’s Why

Shares of International Flavors & Fragrances Inc. (NYSE:IFF) reached a new 52-week high during mid-day trading on Monday. The company traded as high as $94.59 and last traded at $94.4490, with a volume of 1,483,613 shares. The stock had previously closed at $94.15.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research raised International Flavors & Fragrances from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Barclays increased their price target on International Flavors & Fragrances from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Oppenheimer upped their target price on International Flavors & Fragrances from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday. Wall Street Zen upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Morgan Stanley upped their price objective on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.28.

International Flavors & Fragrances Trading Up 0.1%

The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average of $85.95 and a two-hundred day moving average of $79.94. The company has a market capitalization of $24.05 billion, a PE ratio of 85.96, a PEG ratio of 4.04 and a beta of 0.91.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.25). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 3.24 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, September 18th. International Flavors & Fragrances’s payout ratio is presently 146.79%.

International Flavors & Fragrances declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 4th that authorizes the company to buy back $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 12.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at International Flavors & Fragrances

In other news, EVP Michael Deveau sold 8,825 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the transaction, the executive vice president directly owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. The trade was a 62.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 in the last 90 days. Corporate insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Studio Investment Management LLC lifted its holdings in shares of International Flavors & Fragrances by 3.7% during the 2nd quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock valued at $312,000 after purchasing an additional 138 shares in the last quarter. Parkside Financial Bank & Trust raised its position in International Flavors & Fragrances by 27.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock valued at $56,000 after buying an additional 154 shares during the last quarter. Waverly Advisors LLC grew its position in International Flavors & Fragrances by 4.2% in the second quarter. Waverly Advisors LLC now owns 3,850 shares of the specialty chemicals company’s stock valued at $305,000 after purchasing an additional 156 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of International Flavors & Fragrances by 2.8% in the 2nd quarter. HB Wealth Management LLC now owns 6,272 shares of the specialty chemicals company’s stock valued at $497,000 after acquiring an additional 171 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in International Flavors & Fragrances by 6.3% during the first quarter. QRG Capital Management Inc. now owns 3,875 shares of the specialty chemicals company’s stock worth $281,000 after acquiring an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company’s portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.