International Flavors & Fragrances (NYSE:IFF) Reaches New 52-Week High – Still a Buy?

International Flavors & Fragrances Inc. (NYSE:IFF) reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $95.27 and last traded at $94.84, with a volume of 669,424 shares trading hands. The stock had previously closed at $93.02.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Citigroup reduced their price objective on International Flavors & Fragrances from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. KeyCorp assumed coverage on International Flavors & Fragrances in a research note on Thursday, September 10th. They issued a “sector weight” rating for the company. Benchmark increased their target price on International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Oppenheimer lifted their price target on International Flavors & Fragrances from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.28.

International Flavors & Fragrances Stock Up 1.9%

The firm has a market cap of $24.19 billion, a PE ratio of 86.97, a PEG ratio of 3.99 and a beta of 0.86. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. The company’s 50-day simple moving average is $86.85 and its two-hundred day simple moving average is $78.53.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. International Flavors & Fragrances’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. On average, analysts predict that International Flavors & Fragrances Inc. will post 3.24 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Saturday, December 19th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, December 18th. International Flavors & Fragrances’s payout ratio is currently 146.79%.

International Flavors & Fragrances declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 4th that allows the company to buy back $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 12.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at International Flavors & Fragrances

In other news, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Marc Birenkrant sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $85.00, for a total value of $85,000.00. Following the transaction, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 15,543 shares of company stock valued at $1,315,659 in the last 90 days. Insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC increased its stake in shares of International Flavors & Fragrances by 97.9% in the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 274 shares in the last quarter. Parkside Financial Bank & Trust grew its position in International Flavors & Fragrances by 27.9% in the second quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 154 shares in the last quarter. Westpac Banking Corp bought a new position in shares of International Flavors & Fragrances during the 2nd quarter valued at approximately $91,000. Mather Group LLC. raised its holdings in International Flavors & Fragrances by 24.0% during the 3rd quarter. Mather Group LLC. now owns 1,393 shares of the specialty chemicals company’s stock valued at $116,000 after buying an additional 270 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in International Flavors & Fragrances during the 2nd quarter valued at $148,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company’s portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.