International Flavors & Fragrances (NYSE:IFF) Announces Earnings Results

International Flavors & Fragrances (NYSE:IFF) announced its earnings results on Tuesday. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25), Zacks reports. 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 7.65% and a net margin of 7.78%.The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share.

International Flavors & Fragrances Price Performance

NYSE:IFF traded up $0.37 during midday trading on Tuesday, hitting $80.95. The company had a trading volume of 1,811,404 shares, compared to its average volume of 1,794,618. The company has a market capitalization of $20.67 billion, a PE ratio of 18.96, a P/E/G ratio of 2.02 and a beta of 0.93. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances has a 52-week low of $59.14 and a 52-week high of $84.45. The stock’s fifty day moving average price is $77.12 and its 200-day moving average price is $75.11.

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. The ex-dividend date is Friday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. International Flavors & Fragrances’s dividend payout ratio (DPR) is 48.93%.

Analyst Ratings Changes

Several research firms have weighed in on IFF. Rothschild & Co Redburn lowered their price target on International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Citigroup lowered their price target on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Benchmark assumed coverage on shares of International Flavors & Fragrances in a research note on Tuesday, June 9th. They issued a “buy” rating and a $100.00 price objective on the stock. Berenberg Bank boosted their target price on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a research report on Thursday, May 7th. Finally, Barclays boosted their target price on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.16.

Insider Activity

In other news, Director Paul J. Fribourg acquired 260,000 shares of International Flavors & Fragrances stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the transaction, the director owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On International Flavors & Fragrances

Large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its holdings in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC grew its stake in shares of International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 610 shares during the last quarter. EFG International AG purchased a new stake in International Flavors & Fragrances in the fourth quarter worth $73,000. Kestra Advisory Services LLC purchased a new position in International Flavors & Fragrances during the 4th quarter valued at $104,000. Finally, Quarry LP lifted its position in shares of International Flavors & Fragrances by 22.8% in the 3rd quarter. Quarry LP now owns 1,848 shares of the specialty chemicals company’s stock worth $114,000 after purchasing an additional 343 shares during the period. 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) 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.