International Flavors & Fragrances (NYSE:IFF) Coverage Initiated by Analysts at Wells Fargo & Co

Wells Fargo & Co assumed coverage on shares of International Flavors & Fragrances (NYSE:IFF) in a report released on Tuesday, BenzingaRatingsTable reports. The firm issued a market perform rating and a $125.00 target price on the specialty chemicals company’s stock.

A number of other research analysts have also recently weighed in on IFF. BNP Paribas cut International Flavors & Fragrances from a neutral rating to an underperform rating in a research report on Friday, June 21st. ValuEngine cut International Flavors & Fragrances from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded International Flavors & Fragrances from a sell rating to a hold rating and set a $151.00 price target for the company in a research report on Monday, August 5th. Stifel Nicolaus set a $120.00 price target on International Flavors & Fragrances and gave the company a hold rating in a research report on Wednesday, August 7th. Finally, Exane BNP Paribas cut International Flavors & Fragrances to an underperform rating in a research report on Friday, June 21st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $138.09.

NYSE:IFF traded down $1.38 during trading hours on Tuesday, hitting $118.07. The company’s stock had a trading volume of 26,997 shares, compared to its average volume of 1,056,214. The business’s 50-day moving average is $118.50 and its two-hundred day moving average is $131.88. The company has a market capitalization of $12.79 billion, a PE ratio of 18.79 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.59 and a current ratio of 2.60. International Flavors & Fragrances has a 52-week low of $104.86 and a 52-week high of $152.95.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.61. International Flavors & Fragrances had a return on equity of 10.48% and a net margin of 7.51%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business posted $1.76 earnings per share. The business’s revenue for the quarter was up 41.3% on a year-over-year basis. As a group, analysts predict that International Flavors & Fragrances will post 6.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 23rd were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.54%. This is a positive change from International Flavors & Fragrances’s previous quarterly dividend of $0.73. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 47.77%.

In related news, insider Nicolas Mirzayantz sold 929 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $110.62, for a total transaction of $102,765.98. Following the sale, the insider now owns 35,393 shares of the company’s stock, valued at $3,915,173.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 2,786 shares of company stock worth $330,449. Corporate insiders own 0.39% of the company’s stock.

A number of large investors have recently modified their holdings of IFF. Nuveen Asset Management LLC acquired a new stake in International Flavors & Fragrances in the 2nd quarter worth about $202,581,000. Bank of New York Mellon Corp boosted its stake in International Flavors & Fragrances by 43.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,685,399 shares of the specialty chemicals company’s stock worth $244,534,000 after buying an additional 512,851 shares during the last quarter. Bank of America Corp DE boosted its stake in International Flavors & Fragrances by 114.9% in the 2nd quarter. Bank of America Corp DE now owns 697,310 shares of the specialty chemicals company’s stock worth $101,172,000 after buying an additional 372,778 shares during the last quarter. Menora Mivtachim Holdings LTD. boosted its stake in International Flavors & Fragrances by 212.3% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 535,000 shares of the specialty chemicals company’s stock worth $77,623,000 after buying an additional 363,704 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt acquired a new stake in International Flavors & Fragrances in the 2nd quarter worth about $43,533,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Analyst Recommendations for International Flavors & Fragrances (NYSE:IFF)

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