IFF

International Flavors & Fragrances Inc.

Consumer, Industrial/Transportation


Presented:10/18/2021
Price:$145.52
Cap:$37.04B
Current Price:$106.07
Cap:$27.12B

Presented

Date10/18/2021
Price$145.52
Market Cap$37.04B
Ent Value$50.06B
P/E Ratio119.19x
Book Value$87.38
Div Yield2.13%
Shares O/S254.53M
Ave Daily Vol1,273,648
Short Int2.52%

Current

Price$106.07
Market Cap$27.12B
International Flavors & Fragrances, Inc. engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products. It operates through the following segments: Taste and Scent. The Taste segment is sold to the food and beverage industries for use in consumer products such as prepared foods, beverages, dairy, food, and sweet products. The Scent segment comprises of fragrance compounds, fragrance ingredients, and cosmetic active ingredients. The company was founded in 1833 and is headquartered in New York, NY.

Publicly traded companies mentioned herein: DuPont de Nemours Inc (DD), Givaudan SA (GIVN SW), International Flavors & Fragrances Inc (IFF), Symrise AG (SY1 GR)

Highlights

The presenter is long shares of International Flavors & Fragrances Inc (IFF), seeing a positive CEO transition coupled with a stable MSD% revenue growth outlook after its merger with DuPont’s Nutrition & Biosciences business in February 2021. The stock currently trades at ~$147 per share (20x 2023 consensus earnings), and below peers (Givaudan) trading at 32x 2023 earnings. The Street estimates IFF will generate earnings of $7.11 per share in 2023, which he sees being closer to $8 per share, and applies a 25x multiple on that estimate to reach a price target of $200 per share. 

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