Insider Buying: International Flavors & Fragrances Inc. (NYSE:IFF) Director Purchases 15,450 Shares of Stock

Key Points

• Director Insider Purchase: Paul J. Fribourg, a director at International Flavors & Fragrances Inc., purchased 15,450 shares at an average price of $64.80, totaling approximately $1 million, indicating strong personal confidence in the company's prospects.
• Quarterly Earnings Report: The company reported an EPS of $1.15 for the last quarter, surpassing analysts' expectations of $1.11, despite a 4.3% drop in revenue year-over-year.
• Dividend Announcement: International Flavors & Fragrances declared a quarterly dividend of $0.40, payable on October 10th, with a yield of 2.5% despite a negative dividend payout ratio.

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) Director Paul J. Fribourg bought 15,450 shares of International Flavors & Fragrances stock in a transaction dated Thursday, August 7th. The stock was acquired at an average price of $64.80 per share, for a total transaction of $1,001,160.00. Following the completion of the acquisition, the director owned 15,450 shares in the company, valued at approximately $1,001,160. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

International Flavors & Fragrances Trading Down 1.0%

NYSE:IFF traded down $0.63 during mid-day trading on Friday, hitting $63.60. 2,912,535 shares of the stock traded hands, compared to its average volume of 2,092,972. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of -41.03, a PEG ratio of 2.84 and a beta of 1.04. International Flavors & Fragrances Inc. has a 52 week low of $63.50 and a 52 week high of $106.77. The firm's 50 day moving average is $74.65 and its two-hundred day moving average is $77.39. The company has a quick ratio of 1.39, a current ratio of 1.86 and a debt-to-equity ratio of 0.39.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.04. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.69 billion. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. On average, equities research analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio is currently -103.23%.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA bought a new position in shares of International Flavors & Fragrances during the first quarter valued at approximately $32,000. American National Bank & Trust boosted its stake in shares of International Flavors & Fragrances by 11,975.0% during the second quarter. American National Bank & Trust now owns 483 shares of the specialty chemicals company's stock valued at $36,000 after purchasing an additional 479 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of International Flavors & Fragrances during the first quarter valued at approximately $42,000. Geneos Wealth Management Inc. boosted its stake in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Finally, Eastern Bank boosted its stake in shares of International Flavors & Fragrances by 43.9% during the second quarter. Eastern Bank now owns 633 shares of the specialty chemicals company's stock valued at $47,000 after purchasing an additional 193 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IFF shares. Oppenheimer downgraded shares of International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday. Citigroup boosted their target price on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Stifel Nicolaus reduced their target price on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company reduced their target price on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Morgan Stanley reduced their target price on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, International Flavors & Fragrances has a consensus rating of "Moderate Buy" and a consensus price target of $92.36.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division.

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