International Flavors & Fragrances (NYSE:IFF) Reaches New 1-Year High – Time to Buy?

Shares of International Flavors & Fragrances Inc. (NYSE:IFF) hit a new 52-week high during trading on Tuesday. The stock traded as high as $91.98 and last traded at $91.7520, with a volume of 50,344 shares. The stock had previously closed at $90.96.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research upgraded International Flavors & Fragrances from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Morgan Stanley boosted their target price on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Barclays upped their target price on shares of International Flavors & Fragrances from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. UBS Group upped their target price on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.22.

International Flavors & Fragrances Stock Performance

The stock has a market capitalization of $23.23 billion, a PE ratio of 83.54, a PEG ratio of 3.85 and a beta of 0.91. The business’s 50 day moving average is $85.55 and its 200 day moving average is $79.63. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. On average, equities research analysts predict that International Flavors & Fragrances Inc. will post 3.29 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is presently 146.79%.

International Flavors & Fragrances announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 4th that allows the company to buy back $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. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the transaction, the chief accounting officer owned 3,446 shares of the company’s stock, valued at $292,910. This represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 15,543 shares of company stock valued at $1,315,659. Insiders own 1.07% of the company’s stock.

Institutional Trading of International Flavors & Fragrances

A number of large investors have recently made changes to their positions in the stock. Studio Investment Management LLC grew its holdings in shares of International Flavors & Fragrances by 3.7% in the second quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock worth $312,000 after purchasing an additional 138 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in International Flavors & Fragrances by 27.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock valued at $56,000 after buying an additional 154 shares in the last quarter. Waverly Advisors LLC lifted its holdings in International Flavors & Fragrances by 4.2% during the 2nd quarter. Waverly Advisors LLC now owns 3,850 shares of the specialty chemicals company’s stock valued at $305,000 after buying an additional 156 shares in the last quarter. HB Wealth Management LLC boosted its position in International Flavors & Fragrances by 2.8% in the 2nd quarter. HB Wealth Management LLC now owns 6,272 shares of the specialty chemicals company’s stock valued at $497,000 after buying an additional 171 shares during the period. Finally, QRG Capital Management Inc. boosted its position in International Flavors & Fragrances by 6.3% in the 1st quarter. QRG Capital Management Inc. now owns 3,875 shares of the specialty chemicals company’s stock valued at $281,000 after buying an additional 228 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company’s portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.