International Flavors & Fragrances Inc. (IFF) Now Covered by Analysts at Sanford C. Bernstein
Sanford C. Bernstein started coverage on shares of International Flavors & Fragrances Inc. (NYSE:IFF) in a report released on Monday morning. The brokerage issued an outperform rating and a $160.00 price target on the stock.
IFF has been the subject of several other research reports. Zacks Investment Research upgraded International Flavors & Fragrances from a hold rating to a buy rating and set a $141.00 price objective for the company in a research report on Tuesday, July 5th. Argus lifted their price objective on International Flavors & Fragrances from $146.00 to $156.00 and gave the company a buy rating in a research report on Tuesday, August 16th. Gabelli downgraded International Flavors & Fragrances from a buy rating to a hold rating in a research report on Wednesday, August 10th. JPMorgan Chase & Co. reiterated a buy rating and issued a $153.00 price objective on shares of International Flavors & Fragrances in a research report on Sunday, August 14th. Finally, Deutsche Bank AG reiterated a hold rating and issued a $130.00 price objective (up previously from $124.00) on shares of International Flavors & Fragrances in a research report on Sunday, July 24th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $143.60.
International Flavors & Fragrances (NYSE:IFF) opened at 137.79 on Monday. The stock’s 50 day moving average is $136.27 and its 200-day moving average is $126.29. The firm has a market cap of $10.97 billion, a P/E ratio of 26.37 and a beta of 0.99. International Flavors & Fragrances has a 1-year low of $97.24 and a 1-year high of $139.81.
International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Monday, August 8th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.07. International Flavors & Fragrances had a return on equity of 26.66% and a net margin of 13.52%. The firm earned $793.48 million during the quarter, compared to the consensus estimate of $785.60 million. During the same quarter in the previous year, the company posted $1.29 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts forecast that International Flavors & Fragrances will post $5.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Monday, September 26th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, September 22nd. This is a boost from International Flavors & Fragrances’s previous quarterly dividend of $0.56. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.86%. International Flavors & Fragrances’s payout ratio is 43.66%.
In related news, insider Nicolas Mirzayantz sold 3,880 shares of International Flavors & Fragrances stock in a transaction on Monday, July 18th. The stock was sold at an average price of $132.11, for a total transaction of $512,586.80. Following the completion of the sale, the insider now directly owns 63,897 shares of the company’s stock, valued at $8,441,432.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of International Flavors & Fragrances by 30,263.7% in the first quarter. Wellington Management Group LLP now owns 1,321,126 shares of the company’s stock worth $150,305,000 after buying an additional 1,316,775 shares during the period. Riverhead Capital Management LLC boosted its position in International Flavors & Fragrances by 652.5% in the second quarter. Riverhead Capital Management LLC now owns 669,081 shares of the company’s stock worth $84,350,000 after buying an additional 580,171 shares during the last quarter. Royal Bank of Canada boosted its position in International Flavors & Fragrances by 61.5% in the second quarter. Royal Bank of Canada now owns 1,247,796 shares of the company’s stock worth $157,310,000 after buying an additional 475,064 shares during the last quarter. Norges Bank acquired a new position in International Flavors & Fragrances during the fourth quarter worth about $55,892,000. Finally, TimesSquare Capital Management LLC acquired a new position in International Flavors & Fragrances during the first quarter worth about $51,103,000. 81.44% of the stock is owned by institutional investors and hedge funds.
About International Flavors & Fragrances
International Flavors & Fragrances Inc (IFF) creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) for the food, beverage, personal care and household products industries either in the form of compounds or individual ingredients. The Company operates in two segments: Flavors and Fragrances.
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