International Flavors & Fragrances Inc. (NYSE:IFF) Declares $0.79 Quarterly Dividend

International Flavors & Fragrances Inc. (NYSE:IFFGet Rating) announced a quarterly dividend on Thursday, May 5th, RTT News reports. Stockholders of record on Friday, June 24th will be given a dividend of 0.79 per share by the specialty chemicals company on Wednesday, July 6th. This represents a $3.16 annualized dividend and a dividend yield of 2.57%.

International Flavors & Fragrances has raised its dividend by an average of 3.2% annually over the last three years and has increased its dividend every year for the last 20 years. International Flavors & Fragrances has a payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Flavors & Fragrances to earn $6.44 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 49.1%.

IFF opened at $122.75 on Friday. The firm’s 50-day simple moving average is $125.51 and its 200-day simple moving average is $136.71. The firm has a market cap of $31.27 billion, a price-to-earnings ratio of 121.54, a PEG ratio of 2.69 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.23 and a current ratio of 1.92. International Flavors & Fragrances has a twelve month low of $113.40 and a twelve month high of $157.08.

International Flavors & Fragrances (NYSE:IFFGet Rating) last released its earnings results on Wednesday, February 9th. The specialty chemicals company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. International Flavors & Fragrances had a net margin of 2.32% and a return on equity of 6.37%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the company posted $1.32 EPS. As a group, sell-side analysts anticipate that International Flavors & Fragrances will post 5.51 EPS for the current fiscal year.

A number of brokerages have recently commented on IFF. StockNews.com cut International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Friday, April 29th. Jefferies Financial Group began coverage on International Flavors & Fragrances in a research note on Thursday, January 13th. They issued a “buy” rating and a $180.00 price target for the company. Barclays lowered their price target on International Flavors & Fragrances from $127.00 to $121.00 and set an “underweight” rating for the company in a research note on Monday, February 14th. Robert W. Baird lowered their price target on International Flavors & Fragrances from $188.00 to $165.00 in a research note on Friday, February 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on International Flavors & Fragrances from $170.00 to $165.00 in a research note on Monday, February 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $156.68.

In other news, insider De Villeplee Christoph Fauchon sold 630 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $121.68, for a total transaction of $76,658.40. Following the completion of the transaction, the insider now directly owns 8,809 shares of the company’s stock, valued at approximately $1,071,879.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc boosted its holdings in shares of International Flavors & Fragrances by 37.8% in the 4th quarter. NEXT Financial Group Inc now owns 321 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 88 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of International Flavors & Fragrances by 3.6% in the 4th quarter. MML Investors Services LLC now owns 3,447 shares of the specialty chemicals company’s stock valued at $519,000 after buying an additional 120 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of International Flavors & Fragrances by 0.4% in the 4th quarter. Glenmede Trust Co. NA now owns 47,069 shares of the specialty chemicals company’s stock valued at $7,090,000 after buying an additional 197 shares during the last quarter. Comerica Bank lifted its holdings in International Flavors & Fragrances by 0.7% during the 4th quarter. Comerica Bank now owns 38,625 shares of the specialty chemicals company’s stock valued at $5,177,000 after purchasing an additional 265 shares during the last quarter. Finally, Boston Private Wealth LLC lifted its holdings in International Flavors & Fragrances by 16.0% during the 4th quarter. Boston Private Wealth LLC now owns 1,998 shares of the specialty chemicals company’s stock valued at $301,000 after purchasing an additional 275 shares during the last quarter. 90.67% of the stock is owned by institutional investors.

About International Flavors & Fragrances (Get Rating)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through Nourish, Scent, Health & Biosciences, and Pharma Solutions segments.

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Dividend History for International Flavors & Fragrances (NYSE:IFF)

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