Key Points
- IFF Chief Accounting Officer Marc Birenkrant sold 1,000 shares at an average price of $85, reducing his direct holdings by 22.49% to 3,446 shares.
- IFF reported quarterly earnings of $0.82 per share, below the $1.07 analyst consensus, while revenue of $1.95 billion also fell short of the $2.62 billion estimate.
- The board authorized a $2.5 billion share-repurchase program, while IFF maintained a quarterly dividend of $0.40 per share; analysts’ consensus rating remained “Moderate Buy” with a $92.16 target price.
International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) CAO Marc Birenkrant sold 1,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $85.00, for a total value of $85,000.00. Following the sale, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
International Flavors & Fragrances Price Performance
International Flavors & Fragrances stock opened at $85.03 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The company has a market capitalization of $21.70 billion, a PE ratio of 78.01, a price-to-earnings-growth ratio of 2.65 and a beta of 0.93. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $89.32. The business has a 50 day simple moving average of $77.98 and a 200 day simple moving average of $75.60.
International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the company earned $1.15 earnings per share. The business's revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts forecast that International Flavors & Fragrances Inc. will post 3.69 EPS for the current fiscal year.
International Flavors & Fragrances announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 4th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to buy up to 12.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.
International Flavors & Fragrances Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.9%. International Flavors & Fragrances's dividend payout ratio (DPR) is 146.79%.
Wall Street Analyst Weigh In
Several analysts have weighed in on IFF shares. Berenberg Bank upped their price objective on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a "hold" rating in a research note on Thursday, May 7th. UBS Group boosted their target price on International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Zacks Research lowered International Flavors & Fragrances from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 6th. Citigroup cut their price objective on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Finally, Morgan Stanley boosted their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.16.
Get Our Latest Analysis on International Flavors & Fragrances
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Lloyd Advisory Services LLC. acquired a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at $27,000. Root Financial Partners LLC lifted its stake in shares of International Flavors & Fragrances by 97.9% during the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company's stock valued at $40,000 after acquiring an additional 274 shares during the period. Geneos Wealth Management Inc. boosted its holdings in International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after purchasing an additional 610 shares during the period. Finally, EFG International AG bought a new stake in International Flavors & Fragrances during the 4th quarter worth about $73,000. 96.02% of the stock is currently owned by institutional investors.
About International Flavors & Fragrances
(
Get Free Report)
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.
Further Reading
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