Citigroup Issues Pessimistic Forecast for International Flavors & Fragrances (NYSE:IFF) Stock Price

International Flavors & Fragrances (NYSE:IFF - Free Report) had its price objective lowered by Citigroup from $99.00 to $84.00 in a research note released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the specialty chemicals company's stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of International Flavors & Fragrances from $113.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Argus raised International Flavors & Fragrances from a "hold" rating to a "buy" rating in a report on Tuesday, January 7th. Oppenheimer dropped their target price on International Flavors & Fragrances from $114.00 to $104.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Cfra downgraded International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price objective for the company. in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.69.

Remove Ads

International Flavors & Fragrances Price Performance

NYSE IFF traded up $1.86 on Tuesday, hitting $73.24. 2,125,058 shares of the company's stock were exchanged, compared to its average volume of 1,515,438. International Flavors & Fragrances has a 52 week low of $65.85 and a 52 week high of $106.77. The stock has a 50-day moving average of $79.41 and a 200-day moving average of $87.45. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54. The stock has a market cap of $18.73 billion, a price-to-earnings ratio of 77.92, a P/E/G ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.14. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.67 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. Analysts expect that International Flavors & Fragrances will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, March 21st. International Flavors & Fragrances's dividend payout ratio is 170.21%.

Insider Buying and Selling

In related news, Director Kevin O'byrne bought 6,500 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $80.44 per share, with a total value of $522,860.00. Following the completion of the purchase, the director now directly owns 6,500 shares in the company, valued at $522,860. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Flavors & Fragrances

Institutional investors have recently made changes to their positions in the stock. Freemont Capital Pte Ltd bought a new stake in International Flavors & Fragrances in the 4th quarter valued at about $2,143,882,000. Norges Bank bought a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $452,363,000. Dodge & Cox raised its position in shares of International Flavors & Fragrances by 11.9% during the fourth quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock worth $2,658,063,000 after purchasing an additional 3,355,381 shares during the period. Van ECK Associates Corp grew its position in International Flavors & Fragrances by 41.6% in the 4th quarter. Van ECK Associates Corp now owns 5,664,250 shares of the specialty chemicals company's stock valued at $478,912,000 after purchasing an additional 1,663,629 shares during the period. Finally, Nordea Investment Management AB increased its stake in International Flavors & Fragrances by 25.7% during the 4th quarter. Nordea Investment Management AB now owns 5,489,741 shares of the specialty chemicals company's stock valued at $464,926,000 after purchasing an additional 1,121,414 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.