HSBC Holdings plc reiterated their buy rating on shares of Associated British Foods plc (LON:ABF) in a report published on Wednesday. HSBC Holdings plc currently has a GBX 3,700 ($48.67) price objective on the stock.

ABF has been the topic of several other research reports. Credit Suisse Group reaffirmed an outperform rating and issued a GBX 3,600 ($47.35) price target on shares of Associated British Foods plc in a research report on Monday, September 11th. Liberum Capital reaffirmed a buy rating and issued a GBX 3,150 ($41.43) price target on shares of Associated British Foods plc in a research report on Wednesday, August 30th. Deutsche Bank AG raised their price target on shares of Associated British Foods plc from GBX 3,300 ($43.40) to GBX 3,500 ($46.03) and gave the company a buy rating in a research report on Friday, September 8th. Berenberg Bank raised their price target on shares of Associated British Foods plc from GBX 3,100 ($40.77) to GBX 3,200 ($42.09) and gave the company a hold rating in a research report on Monday, September 18th. Finally, Shore Capital reaffirmed a buy rating on shares of Associated British Foods plc in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of GBX 3,315.76 ($43.61).

Shares of Associated British Foods plc (ABF) traded down GBX 46 ($0.61) during midday trading on Wednesday, reaching GBX 3,066 ($40.33). 1,368,970 shares of the company traded hands, compared to its average volume of 784,738. Associated British Foods plc has a twelve month low of GBX 2,335 ($30.71) and a twelve month high of GBX 3,387 ($44.55).

Associated British Foods plc (LON:ABF) last announced its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.67) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 125.90 ($1.66) by GBX 1.20 ($0.02). Associated British Foods plc had a net margin of 7.01% and a return on equity of 12.97%. The business had revenue of GBX 1,535.70 billion for the quarter.

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The company also recently announced a dividend, which will be paid on Friday, January 12th. Shareholders of record on Thursday, December 14th will be given a dividend of GBX 29.65 ($0.39) per share. The ex-dividend date is Thursday, December 14th. This represents a dividend yield of 0.97%. This is a boost from Associated British Foods plc’s previous dividend of $11.35.

About Associated British Foods plc

Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.

Analyst Recommendations for Associated British Foods plc (LON:ABF)

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