Insider Buying: International Flavors & Fragrances (NYSE:IFF) Director Buys 260,000 Shares of Stock

Key Points

• Director Paul Fribourg bought 260,000 shares of International Flavors & Fragrances at an average price of $74.28, a $19.3 million purchase that increased his stake by 10.73%.
• IFF’s latest quarterly results beat expectations, with earnings of $1.25 per share and revenue of $2.74 billion, both above analyst estimates. However, revenue was still down 3.6% from a year earlier.
• The company also announced a quarterly dividend of $0.40 per share, payable July 10, which implies an annualized yield of 2.2%. Analysts currently rate the stock a “Moderate Buy,” with a consensus price target of $90.49.

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) Director Paul Fribourg purchased 260,000 shares of International Flavors & Fragrances stock in a transaction dated Monday, June 1st. The shares were bought at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the transaction, the director directly owned 2,682,730 shares of the company's stock, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

International Flavors & Fragrances Stock Performance

IFF traded down $1.06 on Tuesday, hitting $73.20. 1,889,047 shares of the company's stock were exchanged, compared to its average volume of 1,830,198. The firm has a market cap of $18.69 billion, a PE ratio of 22.38, a P/E/G ratio of 1.67 and a beta of 0.94. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $84.45. The stock has a fifty day moving average of $73.32 and a two-hundred day moving average of $71.83. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. International Flavors & Fragrances's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. On average, research analysts anticipate that International Flavors & Fragrances Inc. will post 4.57 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 18th. This represents a $1.60 annualized dividend and a yield of 2.2%. International Flavors & Fragrances's dividend payout ratio is 48.93%.

Analyst Ratings Changes

Several research firms recently weighed in on IFF. Citigroup increased their price objective on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Mizuho raised their price target on shares of International Flavors & Fragrances from $75.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. BNP Paribas Exane raised their price target on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of International Flavors & Fragrances from a "sell (d)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Finally, Rothschild & Co Redburn dropped their price target on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.49.

Institutional Investors Weigh In On International Flavors & Fragrances

Large investors have recently made changes to their positions in the company. Argent Capital Management LLC acquired a new position in shares of International Flavors & Fragrances during the first quarter valued at approximately $19,391,000. NewEdge Advisors LLC boosted its holdings in International Flavors & Fragrances by 73.0% during the first quarter. NewEdge Advisors LLC now owns 15,413 shares of the specialty chemicals company's stock worth $1,118,000 after buying an additional 6,505 shares in the last quarter. Bank of America Corp DE boosted its holdings in International Flavors & Fragrances by 1.6% during the first quarter. Bank of America Corp DE now owns 1,504,078 shares of the specialty chemicals company's stock worth $109,121,000 after buying an additional 23,680 shares in the last quarter. Bull Harbor Capital LLC bought a new stake in International Flavors & Fragrances during the first quarter worth approximately $552,000. Finally, Amundi boosted its holdings in International Flavors & Fragrances by 29.5% during the first quarter. Amundi now owns 708,906 shares of the specialty chemicals company's stock worth $51,431,000 after buying an additional 161,545 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

About International Flavors & Fragrances

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.

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