International Flavors & Fragrances (NYSE:IFF) Hits New 12-Month Low at $100.46

International Flavors & Fragrances Inc. (NYSE:IFFGet Rating) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $100.46 and last traded at $102.31, with a volume of 25116 shares trading hands. The stock had previously closed at $101.56.

Wall Street Analyst Weigh In

Several brokerages recently commented on IFF. Credit Suisse Group initiated coverage on shares of International Flavors & Fragrances in a report on Monday, June 27th. They set an “outperform” rating and a $145.00 target price for the company. Robert W. Baird dropped their target price on shares of International Flavors & Fragrances from $160.00 to $140.00 in a research report on Wednesday, August 10th. Jefferies Financial Group cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $170.00 to $101.00 in a research report on Thursday, June 16th. Morgan Stanley reduced their target price on shares of International Flavors & Fragrances from $160.00 to $149.00 and set an “overweight” rating on the stock in a report on Thursday, August 11th. Finally, Bank of America reduced their price objective on shares of International Flavors & Fragrances from $169.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.14.

International Flavors & Fragrances Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $116.43 and its 200-day simple moving average is $121.52. The stock has a market cap of $24.90 billion, a PE ratio of 39.06, a PEG ratio of 1.87 and a beta of 1.02.

International Flavors & Fragrances (NYSE:IFFGet Rating) last announced its quarterly earnings results on Monday, August 8th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.12. International Flavors & Fragrances had a net margin of 5.03% and a return on equity of 7.05%. The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the company earned $1.50 earnings per share. International Flavors & Fragrances’s quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts expect that International Flavors & Fragrances Inc. will post 5.76 EPS for the current fiscal year.

International Flavors & Fragrances Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Friday, September 23rd will be given a dividend of $0.81 per share. The ex-dividend date is Thursday, September 22nd. This represents a $3.24 annualized dividend and a dividend yield of 3.32%. This is a boost from International Flavors & Fragrances’s previous quarterly dividend of $0.79. International Flavors & Fragrances’s payout ratio is currently 126.40%.

Insider Activity at International Flavors & Fragrances

In related news, EVP Francisco Fortanet sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president now owns 17,237 shares of the company’s stock, valued at $2,154,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Flavors & Fragrances

Several hedge funds have recently bought and sold shares of IFF. LTS One Management LP bought a new stake in International Flavors & Fragrances during the fourth quarter worth about $790,913,000. Viking Global Investors LP boosted its stake in International Flavors & Fragrances by 643.1% during the first quarter. Viking Global Investors LP now owns 3,797,230 shares of the specialty chemicals company’s stock worth $498,690,000 after acquiring an additional 3,286,245 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in International Flavors & Fragrances by 36.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,699,795 shares of the specialty chemicals company’s stock worth $748,555,000 after acquiring an additional 1,525,828 shares in the last quarter. Sarasin & Partners LLP boosted its stake in International Flavors & Fragrances by 1,463.9% during the second quarter. Sarasin & Partners LLP now owns 1,485,723 shares of the specialty chemicals company’s stock worth $176,979,000 after acquiring an additional 1,390,723 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of International Flavors & Fragrances by 4.0% in the first quarter. BlackRock Inc. now owns 19,967,248 shares of the specialty chemicals company’s stock worth $2,622,298,000 after buying an additional 768,929 shares in the last quarter. Institutional investors own 89.74% of the company’s stock.

International Flavors & Fragrances Company Profile

(Get Rating)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through Nourish, Scent, Health & Biosciences, and Pharma Solutions segments.

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