Shore Capital restated their buy rating on shares of Associated British Foods (LON:ABF) in a report released on Thursday morning, ThisIsMoney.Co.Uk reports.
ABF has been the subject of several other reports. Jefferies Financial Group upped their target price on Associated British Foods from GBX 2,950 ($38.81) to GBX 3,020 ($39.73) and gave the company a buy rating in a report on Friday, November 22nd. Goldman Sachs Group raised Associated British Foods to a buy rating and upped their target price for the company from GBX 2,500 ($32.89) to GBX 2,750 ($36.17) in a report on Thursday, November 7th. Barclays reaffirmed an overweight rating on shares of Associated British Foods in a report on Wednesday, November 27th. Credit Suisse Group upped their target price on Associated British Foods from GBX 2,650 ($34.86) to GBX 2,800 ($36.83) and gave the company an outperform rating in a report on Monday. Finally, Royal Bank of Canada upped their target price on Associated British Foods from GBX 2,700 ($35.52) to GBX 2,800 ($36.83) and gave the company an outperform rating in a report on Monday, November 25th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Associated British Foods currently has an average rating of Buy and a consensus target price of GBX 2,860.18 ($37.62).
ABF traded down GBX 1 ($0.01) during midday trading on Thursday, reaching GBX 2,660 ($34.99). 1,130,515 shares of the company were exchanged, compared to its average volume of 972,940. 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’s fifty day moving average price is GBX 2,584.22 and its 200 day moving average price is GBX 2,394.86. The company has a market cap of $21.07 billion and a price-to-earnings ratio of 23.94. Associated British Foods has a one year low of GBX 2,078.81 ($27.35) and a one year high of GBX 2,704.27 ($35.57).
The firm also recently announced a dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 12th were issued a GBX 34.30 ($0.45) dividend. 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 dividend yield of 1.44%. Associated British Foods’s dividend payout ratio is currently 0.41%.
In other news, insider John Bason sold 20,827 shares of the company’s stock in a transaction that occurred on 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).
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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