Wells Fargo & Company Increases International Flavors & Fragrances (NYSE:IFF) Price Target to $115.00

International Flavors & Fragrances (NYSE:IFF) had its price target upped by Wells Fargo & Company from $110.00 to $115.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other research firms have also recently commented on IFF. Citigroup increased their price target on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a buy rating in a research note on Friday, July 12th. Morgan Stanley boosted 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 report on Wednesday, July 3rd. Mizuho upped their price target on shares of International Flavors & Fragrances from $91.00 to $98.00 and gave the company a neutral rating in a research note on Tuesday, May 7th. Stifel Nicolaus upgraded shares of International Flavors & Fragrances from a hold rating to a buy rating and lifted their price objective for the stock from $95.00 to $115.00 in a research note on Monday, July 22nd. Finally, Barclays upped their target price on International Flavors & Fragrances from $82.00 to $93.00 and gave the company an equal weight rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $102.07.

International Flavors & Fragrances Stock Up 0.7 %

Shares of NYSE:IFF traded up $0.66 during trading on Thursday, reaching $96.21. The stock had a trading volume of 1,583,185 shares, compared to its average volume of 1,851,973. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $24.57 billion, a P/E ratio of -9.85, a PEG ratio of 1.95 and a beta of 1.26. The firm’s 50-day simple moving average is $96.64 and its 200 day simple moving average is $89.11. International Flavors & Fragrances has a one year low of $62.11 and a one year high of $101.89.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. As a group, research analysts expect that International Flavors & Fragrances will post 3.98 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.60 annualized dividend and a yield of 1.66%. International Flavors & Fragrances’s dividend payout ratio is presently -16.38%.

Insider Activity

In related news, insider Angela Strzelecki sold 2,588 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $95.66, for a total transaction of $247,568.08. Following the sale, the insider now owns 8,539 shares in the company, valued at $816,840.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of International Flavors & Fragrances by 7.8% during the 1st quarter. Van ECK Associates Corp now owns 4,778,678 shares of the specialty chemicals company’s stock worth $410,919,000 after buying an additional 344,377 shares during the period. First Pacific Advisors LP raised its position in International Flavors & Fragrances by 2.0% during the second quarter. First Pacific Advisors LP now owns 4,011,307 shares of the specialty chemicals company’s stock worth $381,917,000 after acquiring an additional 80,558 shares during the period. Capital International Investors lifted its holdings in International Flavors & Fragrances by 1.4% during the fourth quarter. Capital International Investors now owns 2,375,699 shares of the specialty chemicals company’s stock valued at $192,360,000 after purchasing an additional 33,548 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of International Flavors & Fragrances by 9.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,895,581 shares of the specialty chemicals company’s stock valued at $163,003,000 after purchasing an additional 162,179 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of International Flavors & Fragrances by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,756,438 shares of the specialty chemicals company’s stock worth $167,244,000 after purchasing an additional 123,693 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Company Profile

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.