Associated British Foods (ASBFY) Downgraded to “Neutral” at Goldman Sachs Group

Goldman Sachs Group lowered shares of Associated British Foods (OTCMKTS:ASBFY) from a buy rating to a neutral rating in a report published on Wednesday morning, The Fly reports.

Other analysts have also issued reports about the stock. UBS raised shares of Associated British Foods from a neutral rating to a buy rating in a research note on Tuesday, May 8th. Zacks Investment Research lowered shares of Associated British Foods from a buy rating to a sell rating in a research note on Wednesday, April 18th. Finally, Morgan Stanley raised shares of Associated British Foods to an overweight rating in a research note on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $40.00.

OTCMKTS ASBFY opened at $37.34 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.65 and a debt-to-equity ratio of 0.07. Associated British Foods has a 12 month low of $33.87 and a 12 month high of $45.22.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, July 20th. Investors of record on Friday, June 8th will be paid a $0.138 dividend. The ex-dividend date is Thursday, June 7th. Associated British Foods’s dividend payout ratio (DPR) is presently 29.52%.

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, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

The Fly

Analyst Recommendations for Associated British Foods (OTCMKTS:ASBFY)

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