Internationa Flavors & Fragrances, Inc. (IFF) Stock Rating Reaffirmed by KeyCorp
Internationa Flavors & Fragrances, Inc. (NYSE:IFF)‘s stock had its “buy” rating reiterated by analysts at KeyCorp in a research note issued on Wednesday. They presently have a $148.00 price target on the specialty chemicals company’s stock. KeyCorp’s price target would indicate a potential upside of 1.43% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Deutsche Bank AG reiterated a “hold” rating and issued a $139.00 price objective (up previously from $135.00) on shares of Internationa Flavors & Fragrances in a report on Thursday, August 10th. BidaskClub lowered Internationa Flavors & Fragrances from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research cut Internationa Flavors & Fragrances from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Barclays PLC restated a “sell” rating and set a $123.00 target price on shares of Internationa Flavors & Fragrances in a report on Friday, August 11th. Finally, Stifel Nicolaus restated a “hold” rating and set a $136.00 target price (up from $129.00) on shares of Internationa Flavors & Fragrances in a research report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $134.35.
Shares of Internationa Flavors & Fragrances (NYSE IFF) traded up 0.21% during trading on Wednesday, reaching $146.21. The company had a trading volume of 55,160 shares. The company has a 50 day moving average of $140.31 and a 200-day moving average of $136.32. Internationa Flavors & Fragrances has a 52-week low of $113.16 and a 52-week high of $146.30. The firm has a market capitalization of $11.55 billion, a P/E ratio of 29.50 and a beta of 1.11.
Internationa Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.05. The company had revenue of $842.86 million for the quarter, compared to the consensus estimate of $845.89 million. Internationa Flavors & Fragrances had a return on equity of 26.83% and a net margin of 12.31%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 EPS. Equities analysts expect that Internationa Flavors & Fragrances will post $5.78 earnings per share for the current year.
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In related news, EVP Francisco Fortanet sold 300 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $134.36, for a total value of $40,308.00. Following the sale, the executive vice president now directly owns 19,994 shares of the company’s stock, valued at approximately $2,686,393.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Winder Investment Pte Ltd acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was bought at an average cost of $133.29 per share, for a total transaction of $2,665,800.00. Following the completion of the transaction, the insider now directly owns 9,290,793 shares in the company, valued at approximately $1,238,369,798.97. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,169,400 shares of company stock worth $156,795,273 and have sold 6,998 shares worth $962,952. Insiders own 0.48% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Winder Investment Pte Ltd acquired a new stake in shares of Internationa Flavors & Fragrances in the 4th quarter valued at about $920,104,000. BlackRock Inc. grew its holdings in shares of Internationa Flavors & Fragrances by 2,877.1% during the first quarter. BlackRock Inc. now owns 4,920,948 shares of the specialty chemicals company’s stock worth $652,173,000 after buying an additional 4,755,656 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Internationa Flavors & Fragrances by 30,263.7% during the first quarter. Wellington Management Group LLP now owns 1,321,126 shares of the specialty chemicals company’s stock worth $150,305,000 after buying an additional 1,316,775 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Internationa Flavors & Fragrances by 8.2% during the second quarter. Vanguard Group Inc. now owns 8,765,573 shares of the specialty chemicals company’s stock worth $1,183,352,000 after buying an additional 666,120 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Internationa Flavors & Fragrances during the fourth quarter worth about $60,858,000. 82.18% of the stock is owned by hedge funds and other institutional investors.
About Internationa Flavors & Fragrances
International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold 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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