International Flavors & Fragrances Inc. (NYSE:IFF) Plans Quarterly Dividend of $0.40

International Flavors & Fragrances Inc. (NYSE:IFF) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Stockholders of record on Friday, September 20th will be given a dividend of 0.40 per share by the specialty chemicals company on Wednesday, October 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, September 20th.

International Flavors & Fragrances has raised its dividend by an average of 2.2% annually over the last three years. International Flavors & Fragrances has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Flavors & Fragrances to earn $4.40 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 36.4%.

International Flavors & Fragrances Trading Up 0.1 %

Shares of NYSE:IFF traded up $0.10 during trading on Thursday, reaching $99.58. The stock had a trading volume of 105,962 shares, compared to its average volume of 1,830,326. The firm’s fifty day moving average is $96.57 and its 200 day moving average is $88.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.68. International Flavors & Fragrances has a 52 week low of $62.11 and a 52 week high of $101.89. The stock has a market cap of $25.43 billion, a price-to-earnings ratio of -10.18, a P/E/G ratio of 1.96 and a beta of 1.26.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.27. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the firm posted $0.87 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities analysts forecast that International Flavors & Fragrances will post 3.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Angela Strzelecki sold 2,588 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $95.66, for a total transaction of $247,568.08. Following the completion of the sale, the insider now owns 8,539 shares in the company, valued at $816,840.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IFF. Stifel Nicolaus raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $115.00 in a research note on Monday, July 22nd. Morgan Stanley increased their target price on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company increased their target price on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Oppenheimer began coverage on shares of International Flavors & Fragrances in a research note on Friday, June 7th. They set an “outperform” rating and a $116.00 target price on the stock. Finally, Citigroup increased their target price on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Hold” and an average target price of $98.33.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.