International Flavors & Fragrances (NYSE:IFF) Hits New 1-Year Low - Here's Why

Key Points

• International Flavors & Fragrances (NYSE:IFF) shares have hit a new 52-week low, trading as low as $62.98, amid significant trading volume of 4,382,508 shares.
• Analysts have downgraded their price targets for IFF, with a consensus price target of $92.36 and an average rating of "Moderate Buy," despite one sell rating and 12 buy ratings.
• The company declared a quarterly dividend of $0.40 per share, set to be paid on October 10th, representing a 2.5% dividend yield, although its current dividend payout ratio stands at -103.23%.

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $62.98 and last traded at $63.49, with a volume of 4382508 shares traded. The stock had previously closed at $63.56.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IFF shares. Morgan Stanley dropped their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. UBS Group decreased their price target on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. Wells Fargo & Company decreased their price target on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Tigress Financial initiated coverage on International Flavors & Fragrances in a research report on Wednesday, June 4th. They set a "buy" rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.36.

International Flavors & Fragrances Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86. The stock has a market capitalization of $16.27 billion, a P/E ratio of -40.96, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. The stock has a 50-day simple moving average of $74.41 and a 200 day simple moving average of $77.11.

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

International Flavors & Fragrances Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Paul J. Fribourg purchased 15,450 shares of International Flavors & Fragrances stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $64.80 per share, for a total transaction of $1,001,160.00. Following the transaction, the director directly owned 15,450 shares of the company's stock, valued at approximately $1,001,160. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO J Erik Fyrwald purchased 15,300 shares of International Flavors & Fragrances stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $64.95 per share, for a total transaction of $993,735.00. Following the completion of the transaction, the chief executive officer directly owned 77,370 shares in the company, valued at $5,025,181.50. The trade was a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 52,100 shares of company stock worth $3,631,607 over the last three months. Insiders own 0.17% of the company's stock.

Institutional Trading of International Flavors & Fragrances

Hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new stake in International Flavors & Fragrances during the 1st quarter worth $32,000. American National Bank & Trust raised its stake in International Flavors & Fragrances by 11,975.0% during the 2nd quarter. American National Bank & Trust now owns 483 shares of the specialty chemicals company's stock worth $36,000 after buying an additional 479 shares during the period. Zions Bancorporation National Association UT acquired a new stake in International Flavors & Fragrances during the 1st quarter worth $42,000. Geneos Wealth Management Inc. raised its stake in shares of International Flavors & Fragrances by 55.7% in the 1st 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 during the period. Finally, Eastern Bank lifted its holdings in shares of International Flavors & Fragrances by 43.9% in 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. Institutional investors and hedge funds own 96.02% of the company's stock.

About International Flavors & Fragrances

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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