International Flavors & Fragrances (NYSE:IFF) CAO Sells $85,000.00 in Stock

Key Points

• IFF Chief Accounting Officer Marc Birenkrant sold 1,000 shares at an average price of $85, reducing his holdings by 22.49% to 3,446 shares.
• The company’s latest quarter fell short of expectations, reporting $0.82 EPS versus $1.07 expected and $1.95 billion in revenue versus $2.62 billion forecast, despite 1.8% year-over-year revenue growth.
• IFF authorized a $2.5 billion stock buyback covering up to 12.1% of shares and declared a quarterly dividend of $0.40 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $92.16.

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) CAO Marc Birenkrant sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the transaction, the chief accounting officer owned 3,446 shares in the company, valued at $292,910. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

International Flavors & Fragrances Trading Down 1.0%

IFF traded down $0.86 during trading on Monday, hitting $85.03. 1,814,694 shares of the company's stock were exchanged, compared to its average volume of 1,871,533. International Flavors & Fragrances Inc. has a 1 year low of $59.14 and a 1 year high of $89.32. The stock has a 50 day moving average price of $77.77 and a 200 day moving average price of $75.50. The firm has a market cap of $21.70 billion, a P/E ratio of 78.01, a price-to-earnings-growth ratio of 2.65 and a beta of 0.93. 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 - Get Free Report) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.25). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the prior year, the business posted $1.15 EPS. The business's revenue was up 1.8% on a year-over-year basis. As a group, analysts expect that International Flavors & Fragrances Inc. will post 3.69 EPS for the current fiscal year.

International Flavors & Fragrances announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 12.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances's payout ratio is currently 146.79%.

Institutional Trading of International Flavors & Fragrances

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lloyd Advisory Services LLC. bought a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at approximately $27,000. Root Financial Partners LLC boosted its holdings in International Flavors & Fragrances by 97.9% in the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company's stock worth $40,000 after purchasing an additional 274 shares during the period. Geneos Wealth Management Inc. boosted its holdings in 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 period. Transamerica Financial Advisors LLC increased its stake in International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock valued at $50,000 after purchasing an additional 610 shares during the last quarter. Finally, EFG International AG acquired a new stake in shares of International Flavors & Fragrances during the fourth quarter worth $73,000. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Jefferies Financial Group raised their target price on International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Citigroup reduced their target price on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Zacks Research downgraded shares of International Flavors & Fragrances from a "hold" rating to a "strong sell" rating in a research note on Thursday. Finally, Benchmark lifted their price target on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $92.16.

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.

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