International Flavors & Fragrances (NYSE:IFF) Hits New 52-Week High – Time to Buy?

International Flavors & Fragrances Inc. (NYSE:IFF) reached a new 52-week high on Wednesday . The stock traded as high as $89.32 and last traded at $84.87, with a volume of 380185 shares. The stock had previously closed at $80.89.

Analysts Set New Price Targets

IFF has been the topic of several recent analyst reports. BNP Paribas Exane boosted their target price on International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Argus lifted their price objective on International Flavors & Fragrances from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. UBS Group increased their target price on International Flavors & Fragrances from $75.00 to $86.00 in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of International Flavors & Fragrances in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average price target of $91.16.

International Flavors & Fragrances Price Performance

The company has a market capitalization of $22.34 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.02 and a beta of 0.93. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $77.22 and a 200 day moving average price of $75.19.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.25). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.8%. International Flavors & Fragrances’s dividend payout ratio is presently 48.93%.

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

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 260,000 shares of the stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the transaction, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.07% of the stock is currently owned by corporate insiders.

Institutional Trading of International Flavors & Fragrances

A number of institutional investors have recently bought and sold shares of the business. Lloyd Advisory Services LLC. bought a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at $27,000. Root Financial Partners LLC boosted its position 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 during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 210 shares during the period. Transamerica Financial Advisors LLC grew its stake in shares of International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 610 shares during the period. Finally, EFG International AG bought a new stake in International Flavors & Fragrances in the fourth quarter valued at about $73,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.