Marc Birenkrant Sells 1,000 Shares of International Flavors & Fragrances (NYSE:IFF) Stock

International Flavors & Fragrances Inc. (NYSE:IFF) CAO Marc Birenkrant sold 1,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the transaction, the chief accounting officer 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 document filed with the SEC, which is available at this link.

International Flavors & Fragrances Trading Down 0.1%

Shares of IFF stock opened at $85.00 on Wednesday. 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 cap of $21.69 billion, a price-to-earnings ratio of 77.98, a PEG ratio of 3.16 and a beta of 0.93. International Flavors & Fragrances Inc. has a 1 year low of $59.14 and a 1 year high of $89.32. The firm has a fifty day moving average price of $78.22 and a 200-day moving average price of $75.69.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.International Flavors & Fragrances’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 earnings per share. As a group, equities analysts predict that International Flavors & Fragrances Inc. will post 3.06 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

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

International Flavors & Fragrances declared that its board has authorized a share buyback plan on Tuesday, August 4th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 12.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On International Flavors & Fragrances

Several institutional investors have recently bought and sold shares of IFF. Ieq Capital LLC purchased a new stake in International Flavors & Fragrances in the 2nd quarter worth $1,225,000. Callan Family Office LLC purchased a new stake in shares of International Flavors & Fragrances in the second quarter worth about $5,434,000. Heartland Advisors Inc. bought a new stake in International Flavors & Fragrances in the 2nd quarter worth approximately $5,114,000. Allworth Financial LP purchased a new stake in shares of International Flavors & Fragrances during the 2nd quarter worth approximately $420,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in shares of International Flavors & Fragrances in the second quarter valued at $1,207,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IFF has been the topic of a number of recent analyst reports. Citigroup decreased their target price on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Barclays upped their price target on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. BNP Paribas Exane raised their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Oppenheimer raised their price target on International Flavors & Fragrances from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average price target of $92.16.

About International Flavors & Fragrances

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.