Shares of Associated British Foods plc (LON:ABF) have received an average rating of “Buy” from the twelve research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is GBX 2,790.22 ($36.70).
Several research analysts have weighed in on ABF shares. Liberum Capital reiterated a “buy” rating and set a GBX 3,070 ($40.38) target price on shares of Associated British Foods in a report on Tuesday, November 5th. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a report on Thursday, December 12th. Goldman Sachs Group upgraded Associated British Foods to a “buy” rating and lifted their target price for the stock from GBX 2,500 ($32.89) to GBX 2,750 ($36.17) in a report on Thursday, November 7th. Jefferies Financial Group lifted their target price on Associated British Foods from GBX 2,950 ($38.81) to GBX 3,020 ($39.73) and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Barclays reiterated an “overweight” rating on shares of Associated British Foods in a report on Wednesday, November 27th.
In other Associated British Foods news, insider John Bason sold 20,827 shares of Associated British Foods stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of GBX 2,536 ($33.36), for a total value of £528,172.72 ($694,781.27).
ABF stock traded down GBX 14 ($0.18) during midday trading on Tuesday, hitting GBX 2,561 ($33.69). 743,103 shares of the company’s stock were exchanged, compared to its average volume of 972,940. The stock’s fifty day moving average price is GBX 2,581.58 and its 200-day moving average price is GBX 2,392.28. The company has a debt-to-equity ratio of 6.16, a quick ratio of 0.91 and a current ratio of 1.82. The company has a market cap of $20.27 billion and a PE ratio of 23.05. Associated British Foods has a one year low of GBX 2,078.81 ($27.35) and a one year high of GBX 2,659 ($34.98).
The firm also recently announced a dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 12th were issued a dividend of GBX 34.30 ($0.45) per share. The ex-dividend date was Thursday, December 12th. This is a positive change from Associated British Foods’s previous dividend of $12.05. This represents a yield of 1.44%. Associated British Foods’s payout ratio is currently 0.41%.
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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