International Flavors & Fragrances (NYSE:IFF) Releases Earnings Results, Misses Estimates By $0.25 EPS

International Flavors & Fragrances (NYSE:IFF) issued its earnings results on Tuesday. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.25), Zacks reports. 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 during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the company posted $1.15 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis.

International Flavors & Fragrances Trading Up 0.5%

NYSE IFF traded up $0.37 during trading hours on Tuesday, hitting $80.95. 1,811,404 shares of the company were exchanged, compared to its average volume of 1,794,618. International Flavors & Fragrances has a 52 week low of $59.14 and a 52 week high of $84.45. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $77.12 and a 200 day moving average price of $75.11. The stock has a market cap of $20.67 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s payout ratio is presently 48.93%.

Insider Activity

In related news, Director Paul J. Fribourg bought 260,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was purchased at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the acquisition, the director owned 2,682,730 shares in the company, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IFF. Invesco Ltd. boosted its holdings in International Flavors & Fragrances by 131.3% during the 3rd quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock valued at $441,068,000 after acquiring an additional 4,069,075 shares during the period. Ameriprise Financial Inc. increased its stake in International Flavors & Fragrances by 1,842.0% in the second quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company’s stock worth $183,264,000 after purchasing an additional 2,363,307 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in International Flavors & Fragrances by 51.4% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,706,279 shares of the specialty chemicals company’s stock worth $289,624,000 after purchasing an additional 1,598,266 shares during the period. AQR Capital Management LLC lifted its position in shares of International Flavors & Fragrances by 428.1% during the third quarter. AQR Capital Management LLC now owns 1,711,154 shares of the specialty chemicals company’s stock worth $104,021,000 after purchasing an additional 1,387,104 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of International Flavors & Fragrances by 28.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,042,758 shares of the specialty chemicals company’s stock valued at $407,221,000 after purchasing an additional 1,336,479 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on IFF. Morgan Stanley raised their price target on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. BNP Paribas Exane upped their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Benchmark started coverage on International Flavors & Fragrances in a report on Tuesday, June 9th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Thirteen equities research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.16.

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.