International Flavors & Fragrances Inc. (IFF) to Issue Quarterly Dividend of $0.40 on April 11th

International Flavors & Fragrances Inc. (NYSE:IFF) announced a quarterly dividend on Wednesday, March 5th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.40 per share by the specialty chemicals company on Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, March 21st.

International Flavors & Fragrances has decreased its dividend by an average of 20.0% per year over the last three years. International Flavors & Fragrances has a dividend payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Flavors & Fragrances to earn $4.67 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 34.3%.

International Flavors & Fragrances Stock Down 1.5 %

Shares of NYSE:IFF opened at $80.77 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The stock has a market cap of $20.65 billion, a price-to-earnings ratio of 85.93, a PEG ratio of 1.45 and a beta of 1.21. International Flavors & Fragrances has a 12-month low of $78.91 and a 12-month high of $106.77. The business’s 50 day moving average is $83.38 and its 200 day moving average is $91.21.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.14. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.67 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. On average, sell-side analysts forecast that International Flavors & Fragrances will post 4.32 earnings per share for the current fiscal year.

Insider Buying and Selling at International Flavors & Fragrances

In other news, Director Kevin O’byrne purchased 6,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $80.44 per share, with a total value of $522,860.00. Following the acquisition, the director now directly owns 6,500 shares in the company, valued at approximately $522,860. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

IFF has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Argus raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Bank of America dropped their target price on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Cfra lowered shares of International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price target for the company. in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their price objective on International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.50.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.