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

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

Several other equities analysts have also recently weighed in on the company. Vertical Research cut International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Thursday, August 6th. Citigroup decreased their price objective on International Flavors & Fragrances from $101.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Barclays upped their price objective on International Flavors & Fragrances from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group increased their target price on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Benchmark raised their target price on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, International Flavors & Fragrances has an average rating of “Moderate Buy” and a consensus price target of $93.22.

International Flavors & Fragrances Stock Up 0.3%

IFF opened at $90.91 on Friday. The firm has a 50-day simple moving average of $85.28 and a two-hundred day simple moving average of $79.37. International Flavors & Fragrances has a 52 week low of $61.29 and a 52 week high of $91.88. The company has a market capitalization of $23.20 billion, a PE ratio of 83.40, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data 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 net margin of 2.78% and a return on equity of 7.11%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the business earned $1.15 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts forecast that International Flavors & Fragrances will post 3.09 earnings per share for the current fiscal year.

International Flavors & Fragrances declared that its Board of Directors has approved a share buyback plan on Tuesday, August 4th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy up to 12.1% of its stock through open market purchases. Share repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were 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 was Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is currently 146.79%.

Insider Buying and Selling

In related news, EVP Michael Deveau sold 8,825 shares of International Flavors & Fragrances stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $85.55, for a total value of $754,978.75. Following the completion of the transaction, the executive vice president owned 5,199 shares in the company, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business’s 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 15,543 shares of company stock worth $1,315,659. Corporate insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On International Flavors & Fragrances

Several large investors have recently modified their holdings of IFF. Root Financial Partners LLC raised its holdings in International Flavors & Fragrances by 97.9% during the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 274 shares during the period. Parkside Financial Bank & Trust boosted its stake in International Flavors & Fragrances by 27.9% during the second quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock worth $56,000 after buying an additional 154 shares during the period. Westpac Banking Corp purchased a new position in International Flavors & Fragrances during the second quarter worth $91,000. Mather Group LLC. increased its position in International Flavors & Fragrances by 24.0% during the third quarter. Mather Group LLC. now owns 1,393 shares of the specialty chemicals company’s stock valued at $116,000 after acquiring an additional 270 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in International Flavors & Fragrances during the second quarter valued at $148,000. 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.