International Flavors & Fragrances Inc (NYSE:IFF) announced a quarterly dividend on Wednesday, December 13th, RTT News reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.69 per share by the specialty chemicals company on Monday, January 8th. This represents a $2.76 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, December 28th.
International Flavors & Fragrances has increased its dividend by an average of 29.4% per year over the last three years and has increased its dividend every year for the last 7 years. International Flavors & Fragrances has a dividend payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Flavors & Fragrances to earn $6.27 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 44.0%.
Shares of International Flavors & Fragrances (NYSE IFF) opened at $152.51 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.66 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $11,993.47, a price-to-earnings ratio of 29.22, a PEG ratio of 3.02 and a beta of 1.19. International Flavors & Fragrances has a 12 month low of $113.16 and a 12 month high of $156.64.
In other news, EVP Anne Chwat sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $149.61, for a total transaction of $448,830.00. Following the completion of the transaction, the executive vice president now owns 39,157 shares in the company, valued at $5,858,278.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.
IFF has been the subject of a number of analyst reports. KeyCorp reiterated a “buy” rating and issued a $148.00 price target on shares of International Flavors & Fragrances in a research note on Wednesday, October 4th. UBS reiterated a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of International Flavors & Fragrances in a research note on Tuesday, November 7th. Zacks Investment Research lowered International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Finally, Berenberg Bank reiterated a “buy” rating and issued a $160.00 price target on shares of International Flavors & Fragrances in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. International Flavors & Fragrances presently has an average rating of “Hold” and an average target price of $143.70.
About International Flavors & Fragrances
International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.
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