UBS Group restated their buy rating on shares of Associated British Foods (LON:ABF) in a research report report published on Wednesday morning, ThisIsMoney.Co.Uk reports.
A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. reiterated an overweight rating and set a GBX 2,740 ($35.80) target price on shares of Associated British Foods in a research note on Thursday, September 5th. Berenberg Bank lowered their target price on Associated British Foods from GBX 2,800 ($36.59) to GBX 2,700 ($35.28) and set a buy rating on the stock in a research note on Monday, October 21st. Shore Capital reiterated a buy rating on shares of Associated British Foods in a research note on Monday, September 9th. Liberum Capital reiterated a buy rating and set a GBX 3,070 ($40.11) target price on shares of Associated British Foods in a research note on Tuesday. Finally, Jefferies Financial Group reiterated a buy rating and set a GBX 2,950 ($38.55) target price on shares of Associated British Foods in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of GBX 2,858.36 ($37.35).
LON ABF opened at GBX 2,443 ($31.92) on Wednesday. The stock has a market capitalization of $19.34 billion and a price-to-earnings ratio of 21.10. Associated British Foods has a one year low of GBX 2,011 ($26.28) and a one year high of GBX 2,659 ($34.74). The company has a debt-to-equity ratio of 8.60, a current ratio of 1.73 and a quick ratio of 0.89. The business’s fifty day moving average is GBX 2,245.48 and its 200-day moving average is GBX 2,376.71.
The company also recently disclosed a dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 12th will be paid a GBX 34.30 ($0.45) dividend. This is a boost from Associated British Foods’s previous dividend of $12.05. This represents a yield of 1.44%. The ex-dividend date of this dividend is Thursday, December 12th. Associated British Foods’s payout ratio is currently 0.39%.
In other news, insider Ruth Cairnie acquired 1,110 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of GBX 2,231 ($29.15) per share, for a total transaction of £24,764.10 ($32,358.68).
Associated British Foods Company Profile
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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