International Flavors & Fragrances Inc. (IFF) Stock Price Down 2.1%
International Flavors & Fragrances Inc. (NYSE:IFF)’s share price traded down 2.1% during mid-day trading on Friday . The company traded as low as $132.64 and last traded at $132.86, with a volume of 309,141 shares trading hands. The stock had previously closed at $135.76.
A number of equities analysts have issued reports on the company. Deutsche Bank AG reiterated a “hold” rating and set a $130.00 price target (up previously from $124.00) on shares of International Flavors & Fragrances in a research note on Sunday, July 24th. Zacks Investment Research upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Friday, July 22nd. Finally, Berenberg Bank assumed coverage on International Flavors & Fragrances in a research note on Wednesday, July 20th. They set a “buy” rating and a $163.40 price target for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $134.43.
The firm has a market cap of $10.68 billion and a PE ratio of 26.50. The firm has a 50-day moving average price of $129.83 and a 200 day moving average price of $120.45.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Monday, September 26th will be paid a $0.64 dividend. This is a positive change from International Flavors & Fragrances’s previous quarterly dividend of $0.56. This represents a $2.56 dividend on an annualized basis and a yield of 1.91%.
In related news, insider Nicolas Mirzayantz sold 3,880 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $132.11, for a total value of $512,586.80. Following the completion of the transaction, the insider now directly owns 63,897 shares of the company’s stock, valued at $8,441,432.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Other institutional investors recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in International Flavors & Fragrances by 28.0% in the fourth quarter. Sei Investments Co. now owns 8,506 shares of the company’s stock worth $1,018,000 after buying an additional 1,859 shares during the last quarter. US Bancorp DE increased its position in International Flavors & Fragrances by 16.4% in the fourth quarter. US Bancorp DE now owns 33,948 shares of the company’s stock worth $4,062,000 after buying an additional 4,779 shares during the last quarter. Eaton Vance Management increased its position in International Flavors & Fragrances by 47.3% in the fourth quarter. Eaton Vance Management now owns 20,063 shares of the company’s stock worth $2,400,000 after buying an additional 6,440 shares during the last quarter. Victory Capital Management Inc. increased its position in International Flavors & Fragrances by 19.4% in the fourth quarter. Victory Capital Management Inc. now owns 261,952 shares of the company’s stock worth $31,340,000 after buying an additional 42,552 shares during the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in International Flavors & Fragrances during the fourth quarter worth about $4,419,000.
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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