Associated British Foods plc (ABF) Given Consensus Rating of “Buy” by Analysts

Associated British Foods plc (LON:ABF) has earned a consensus rating of “Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is GBX 2,933.18 ($38.33).

Several equities research analysts have issued reports on ABF shares. Credit Suisse Group reaffirmed an “outperform” rating on shares of Associated British Foods in a research note on Thursday, August 23rd. Citigroup reaffirmed a “buy” rating and set a GBX 2,765 ($36.13) price target on shares of Associated British Foods in a research note on Tuesday, August 28th. Deutsche Bank dropped their price target on Associated British Foods from GBX 3,100 ($40.51) to GBX 3,000 ($39.20) and set a “buy” rating for the company in a research note on Thursday, August 30th. Barclays reaffirmed an “overweight” rating on shares of Associated British Foods in a research note on Friday, August 31st. Finally, Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research note on Friday, September 7th.

LON:ABF traded down GBX 108 ($1.41) during trading hours on Monday, hitting GBX 2,242 ($29.30). 2,100,899 shares of the company’s stock traded hands, compared to its average volume of 972,940. Associated British Foods has a 52 week low of GBX 2,476 ($32.35) and a 52 week high of GBX 3,387 ($44.26).

The business also recently disclosed a dividend, which will be paid on Friday, January 11th. Stockholders of record on Thursday, December 13th will be issued a GBX 33.30 ($0.44) dividend. The ex-dividend date is Thursday, December 13th. This represents a dividend yield of 1.35%. This is an increase from Associated British Foods’s previous dividend of $11.70.

In related news, insider John Bason acquired 18,438 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were purchased at an average price of GBX 2,495 ($32.60) per share, for a total transaction of £460,028.10 ($601,108.19).

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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Analyst Recommendations for Associated British Foods (LON:ABF)

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