International Flavors & Fragrances (NYSE:IFF) had its price target hoisted by KeyCorp from $143.00 to $160.00 in a research note issued to investors on Friday, June 7th, The Fly reports. The brokerage currently has an overweight rating on the specialty chemicals company’s stock.
Other analysts have also recently issued research reports about the company. UBS Group boosted their price target on International Flavors & Fragrances from $168.00 to $172.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Seaport Global Securities initiated coverage on International Flavors & Fragrances in a research note on Thursday, February 21st. They set a neutral rating on the stock. Goldman Sachs Group raised International Flavors & Fragrances from a neutral rating to a buy rating and boosted their target price for the stock from $137.00 to $151.00 in a report on Thursday, March 21st. Barclays reissued a sell rating on shares of International Flavors & Fragrances in a report on Monday, February 18th. Finally, Citigroup lowered their price objective on shares of International Flavors & Fragrances from $146.00 to $139.00 and set a neutral rating for the company in a research report on Thursday, February 21st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $150.25.
International Flavors & Fragrances stock traded down $1.20 during trading hours on Friday, hitting $143.89. The stock had a trading volume of 846,909 shares, compared to its average volume of 956,544. The company has a market cap of $15.48 billion, a PE ratio of 22.91 and a beta of 0.76. The company has a quick ratio of 1.58, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $141.71. International Flavors & Fragrances has a 1-year low of $121.85 and a 1-year high of $152.95.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 24th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s payout ratio is presently 46.50%.
In other International Flavors & Fragrances news, insider Nicolas Mirzayantz sold 972 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $148.79, for a total value of $144,623.88. Following the completion of the sale, the insider now directly owns 37,250 shares of the company’s stock, valued at approximately $5,542,427.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 9,580 shares of company stock valued at $1,361,842. 0.39% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. JOYN Advisors Inc. boosted its position in International Flavors & Fragrances by 65.5% during the 4th quarter. JOYN Advisors Inc. now owns 187 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 74 shares during the period. Lenox Wealth Management Inc. purchased a new stake in shares of International Flavors & Fragrances in the 1st quarter worth about $26,000. Fort L.P. lifted its position in shares of International Flavors & Fragrances by 365.3% in the 4th quarter. Fort L.P. now owns 228 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 179 shares during the period. Kaizen Advisory LLC lifted its position in shares of International Flavors & Fragrances by 50.3% in the 4th quarter. Kaizen Advisory LLC now owns 272 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 91 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in International Flavors & Fragrances during the 4th quarter valued at about $37,000. 88.18% of the stock is owned by institutional investors and hedge funds.
International Flavors & Fragrances Company Profile
International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.
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