Associated British Foods plc (LON:ABF)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2,373.03 and traded as high as $2,506.00. Associated British Foods shares last traded at $2,505.00, with a volume of 710,133 shares.
A number of analysts have commented on the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 2,740 ($35.80) target price on shares of Associated British Foods in a report on Thursday, September 5th. Jefferies Financial Group lifted their target price on Associated British Foods from GBX 2,950 ($38.55) to GBX 3,020 ($39.46) and gave the stock a “buy” rating in a report on Friday, November 22nd. UBS Group restated a “buy” rating on shares of Associated British Foods in a research note on Wednesday, November 6th. Liberum Capital restated a “buy” rating and issued a GBX 3,070 ($40.11) price target on shares of Associated British Foods in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price target on Associated British Foods from GBX 2,700 ($35.28) to GBX 2,800 ($36.59) and gave the stock an “outperform” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of GBX 2,855.64 ($37.31).
The stock has a market capitalization of $19.82 billion and a PE ratio of 22.55. The company has a current ratio of 1.82, a quick ratio of 0.91 and a debt-to-equity ratio of 6.16. The stock has a 50 day moving average price of GBX 2,370.76 and a 200-day moving average price of GBX 2,373.03.
The company also recently declared a dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 12th will be paid a GBX 34.30 ($0.45) dividend. This is an increase from Associated British Foods’s previous dividend of $12.05. This represents a dividend yield of 1.44%. The ex-dividend date is Thursday, December 12th. Associated British Foods’s dividend payout ratio (DPR) is 0.41%.
In related news, insider John Bason sold 20,827 shares of Associated British Foods stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of GBX 2,536 ($33.14), for a total transaction of £528,172.72 ($690,151.21). Also, insider Ruth Cairnie bought 1,110 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of GBX 2,231 ($29.15) per share, for a total transaction of £24,764.10 ($32,358.68).
About Associated British Foods (LON:ABF)
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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