KeyCorp upgraded shares of International Flavors & Fragrances (NYSE:IFF – Free Report) to a hold rating in a research report released on Thursday,Zacks reports. KeyCorp also issued estimates for International Flavors & Fragrances’ FY2027 earnings at $4.05 EPS and FY2028 earnings at $4.45 EPS.
Other equities analysts have also issued reports about the stock. UBS Group raised their target price on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Wall Street Zen lowered International Flavors & Fragrances from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Morgan Stanley raised their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Zacks Research cut International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.40.
Check Out Our Latest Research Report on IFF
International Flavors & Fragrances Stock Down 0.3%
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last posted its quarterly 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). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that International Flavors & Fragrances will post 3.08 EPS for the current year.
International Flavors & Fragrances Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 146.79%.
International Flavors & Fragrances declared that its Board of Directors has approved a share repurchase program on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 12.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In other International Flavors & Fragrances news, EVP Michael Deveau sold 8,825 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the sale, the executive vice president owned 5,199 shares in the company, valued at $444,774.45. This represents a 62.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Marc Birenkrant sold 1,000 shares of the stock in a transaction 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. This trade represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 over the last 90 days. Company insiders own 1.07% of the company’s stock.
Hedge Funds Weigh In On International Flavors & Fragrances
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lloyd Advisory Services LLC. purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at about $27,000. Root Financial Partners LLC grew its position in shares of International Flavors & Fragrances by 97.9% in the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 274 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 610 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in International Flavors & Fragrances by 27.9% during the second quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock valued at $56,000 after acquiring an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.
International Flavors & Fragrances Company Profile
International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and related solutions used in consumer and industrial products. Its offerings help customers create or enhance the taste, aroma, texture, appearance and performance of products across the food, beverage, personal care, home care, health and pharmaceutical markets.
IFF’s business includes natural and synthetic flavor compounds, fragrance ingredients and compositions, cosmetic and personal-care ingredients, specialty food ingredients, enzymes, cultures, probiotics and other bioscience-based solutions.
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