Associated British Foods (LON:ABF) had its price target cut by Jefferies Financial Group from GBX 3,200 ($41.81) to GBX 2,800 ($36.59) in a report issued on Tuesday, April 9th, ThisIsMoney.Co.Uk reports. They currently have a buy rating on the stock.
A number of other equities research analysts have also issued reports on ABF. Kepler Capital Markets reaffirmed a buy rating on shares of Associated British Foods in a research report on Monday, December 10th. UBS Group reaffirmed a buy rating on shares of Associated British Foods in a research report on Tuesday, December 11th. HSBC reaffirmed a buy rating on shares of Associated British Foods in a research report on Thursday, January 10th. Liberum Capital reaffirmed a buy rating on shares of Associated British Foods in a research report on Thursday, January 17th. Finally, Shore Capital reaffirmed a buy rating on shares of Associated British Foods in a research report on Thursday, January 17th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of GBX 2,896.69 ($37.85).
Shares of Associated British Foods stock traded up GBX 11 ($0.14) during trading on Tuesday, hitting GBX 2,551 ($33.33). The stock had a trading volume of 476,616 shares, compared to its average volume of 972,940. The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 8.60. The firm has a market cap of $20.09 billion and a price-to-earnings ratio of 22.03. Associated British Foods has a fifty-two week low of GBX 2,011 ($26.28) and a fifty-two week high of GBX 2,846 ($37.19).
The firm also recently declared a dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 6th will be given a dividend of GBX 12.05 ($0.16) per share. This represents a yield of 0.47%. The ex-dividend date is Thursday, June 6th. Associated British Foods’s payout ratio is 0.39%.
In other news, insider Graham Allan bought 3,000 shares of the stock in a transaction on Friday, March 1st. The shares were purchased at an average price of GBX 2,250 ($29.40) per share, for a total transaction of £67,500 ($88,200.71).
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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