International Flavors & Fragrances (NYSE:IFF) Given New $80.00 Price Target at Bank of America

International Flavors & Fragrances (NYSE:IFF) had its price target lowered by Bank of America from $84.00 to $80.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Barclays decreased their target price on shares of International Flavors & Fragrances from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Citigroup decreased their target price on shares of International Flavors & Fragrances from $82.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Argus reduced their price target on shares of International Flavors & Fragrances from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Berenberg Bank reduced their price target on shares of International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating for the company in a research report on Monday, September 29th. Thirteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.07.

International Flavors & Fragrances Stock Performance

International Flavors & Fragrances stock opened at $61.68 on Tuesday. International Flavors & Fragrances has a 1-year low of $59.14 and a 1-year high of $106.77. The firm has a market cap of $15.81 billion, a P/E ratio of -39.79, a P/E/G ratio of 2.58 and a beta of 1.07. The firm has a 50-day moving average of $64.11 and a 200-day moving average of $71.36. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. International Flavors & Fragrances’s revenue was down 4.3% on a year-over-year basis. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Sell-side analysts expect that International Flavors & Fragrances will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, September 29th. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -103.23%.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 15,450 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $64.80 per share, for a total transaction of $1,001,160.00. Following the purchase, the director directly owned 15,450 shares of the company’s stock, valued at $1,001,160. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Erik Fyrwald purchased 15,300 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $64.95 per share, for a total transaction of $993,735.00. Following the purchase, the chief executive officer directly owned 77,370 shares in the company, valued at approximately $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. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Dodge & Cox boosted its stake in shares of International Flavors & Fragrances by 3.8% during the 2nd quarter. Dodge & Cox now owns 35,047,387 shares of the specialty chemicals company’s stock worth $2,577,735,000 after acquiring an additional 1,272,780 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of International Flavors & Fragrances by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 30,880,203 shares of the specialty chemicals company’s stock valued at $2,271,239,000 after buying an additional 490,163 shares in the last quarter. State Street Corp lifted its stake in shares of International Flavors & Fragrances by 3.6% during the 2nd quarter. State Street Corp now owns 10,884,974 shares of the specialty chemicals company’s stock valued at $804,753,000 after buying an additional 381,593 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of International Flavors & Fragrances by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 6,459,129 shares of the specialty chemicals company’s stock valued at $473,036,000 after buying an additional 123,520 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of International Flavors & Fragrances by 122.1% during 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 buying an additional 2,991,405 shares in the last quarter. Hedge funds and other 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.