International Flavors & Fragrances (NYSE:IFF) Stock Gets Price Target Reduction from Citigroup

International Flavors & Fragrances (NYSE:IFF) had its price objective cut by Citigroup from $101.00 to $100.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other analysts also recently issued reports on IFF. Barclays upped their price target on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Vertical Research lowered shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a report on Thursday, August 6th. Argus boosted their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group increased their target price on International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised shares of International Flavors & Fragrances from a “strong sell” rating to a “hold” rating in a research note on Monday, September 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.69.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $84.59 on Wednesday. The stock has a fifty day moving average price of $84.69 and a 200 day moving average price of $78.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. The stock has a market cap of $21.58 billion, a PE ratio of 77.60, a P/E/G ratio of 3.29 and a beta of 0.91. International Flavors & Fragrances has a 1 year low of $59.14 and a 1 year high of $89.32.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.25). The firm 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%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company posted $1.15 EPS. Sell-side analysts forecast that International Flavors & Fragrances will post 3.08 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is presently 146.79%.

International Flavors & Fragrances declared that its board has authorized a share repurchase 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 buy up to 12.1% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Deveau sold 8,825 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value of $754,978.75. Following the sale, the executive vice president owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 15,543 shares of company stock worth $1,315,659. 1.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of hedge funds have recently bought and sold shares of IFF. Wedmont Private Capital bought a new stake in shares of International Flavors & Fragrances in the 3rd quarter valued at approximately $268,000. Douglas Lane & Associates LLC lifted its stake in International Flavors & Fragrances by 1.2% during the third quarter. Douglas Lane & Associates LLC now owns 367,492 shares of the specialty chemicals company’s stock worth $30,678,000 after purchasing an additional 4,253 shares during the last quarter. GAMMA Investing LLC boosted its holdings in International Flavors & Fragrances by 11.0% in the third quarter. GAMMA Investing LLC now owns 6,790 shares of the specialty chemicals company’s stock worth $567,000 after purchasing an additional 674 shares during the period. Farther Finance Advisors LLC increased its stake in International Flavors & Fragrances by 122.6% during the third quarter. Farther Finance Advisors LLC now owns 6,383 shares of the specialty chemicals company’s stock valued at $533,000 after purchasing an additional 3,515 shares during the last quarter. Finally, Everhart Financial Group Inc. raised its holdings in shares of International Flavors & Fragrances by 10.5% during the third quarter. Everhart Financial Group Inc. now owns 2,898 shares of the specialty chemicals company’s stock worth $242,000 after purchasing an additional 275 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients and solutions used in food, beverages, personal care products, fragrances, household products, pharmaceuticals and other consumer goods. The company works with manufacturers to create flavors, fragrances, functional ingredients and sensory experiences for products sold under consumer brands.

IFF’s portfolio includes natural and synthetic flavor compounds, fragrance ingredients, specialty ingredients, food texturants, enzymes, cultures, probiotics and pharmaceutical excipients.