J Erik Fyrwald Buys 15,300 Shares of International Flavors & Fragrances Inc. (NYSE:IFF) Stock

Key Points

• J Erik Fyrwald, the CEO of International Flavors & Fragrances Inc. (NYSE:IFF), purchased 15,300 shares of the company's stock on August 7th for approximately $993,735, increasing his total holdings in the company by 24.65%.
• The company's stock has decreased by 3.0% during trading hours, with a current price of $64.21 and a market cap of $16.46 billion.
• International Flavors & Fragrances recently declared a quarterly dividend of $0.40 per share, which will be paid on October 10th, with an annualized dividend yield of 2.5%.

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) CEO J Erik Fyrwald purchased 15,300 shares of the stock in a transaction dated Thursday, August 7th. The shares were purchased 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 owned 77,370 shares in the company, valued at $5,025,181.50. This trade represents a 24.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

International Flavors & Fragrances Trading Down 3.0%

NYSE:IFF traded down $1.96 during trading hours on Thursday, hitting $64.21. The stock had a trading volume of 4,930,931 shares, compared to its average volume of 1,902,042. The business's 50 day moving average is $74.91 and its 200-day moving average is $77.54. The company has a market cap of $16.46 billion, a price-to-earnings ratio of -41.42, a P/E/G ratio of 2.93 and a beta of 1.04. International Flavors & Fragrances Inc. has a one year low of $63.71 and a one year high of $106.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 1.86.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.04. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations 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 business's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 earnings per share. Sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS 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. Shareholders of record on Monday, September 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. International Flavors & Fragrances's payout ratio is -103.23%.

Wall Street Analyst Weigh In

IFF has been the subject of a number of recent research reports. Oppenheimer downgraded International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday. Wells Fargo & Company cut their price objective on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday. Stifel Nicolaus dropped 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 research report on Thursday, April 10th. Mizuho reduced their price target on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Robert W. Baird lowered their price objective on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.79.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of large investors have recently made changes to their positions in IFF. Freemont Capital Pte Ltd bought a new stake in shares of International Flavors & Fragrances during the 4th quarter worth approximately $2,143,882,000. Dodge & Cox boosted its position in International Flavors & Fragrances by 11.9% during the 4th quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock worth $2,658,063,000 after buying an additional 3,355,381 shares during the period. First Eagle Investment Management LLC increased its position in International Flavors & Fragrances by 122.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,441,094 shares of the specialty chemicals company's stock valued at $400,192,000 after acquiring an additional 2,991,405 shares during the period. Nuveen LLC acquired a new position in shares of International Flavors & Fragrances during the first quarter worth $57,324,000. Finally, Northern Trust Corp raised its position in International Flavors & Fragrances by 19.9% during the 4th quarter. Northern Trust Corp now owns 3,407,262 shares of the specialty chemicals company's stock worth $288,084,000 after purchasing an additional 565,769 shares during the last quarter. Institutional investors 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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