Associated British Foods (ABF) Given Buy Rating at Liberum Capital
Liberum Capital reaffirmed their buy rating on shares of Associated British Foods (LON:ABF) in a research note published on Monday. The firm currently has a GBX 3,500 ($47.11) price objective on the stock.
Several other research analysts also recently weighed in on the stock. Deutsche Bank restated a buy rating and set a GBX 3,500 ($47.11) price objective on shares of Associated British Foods in a report on Wednesday, October 11th. Credit Suisse Group restated an outperform rating and set a GBX 3,600 ($48.45) price objective on shares of Associated British Foods in a report on Monday, September 11th. Berenberg Bank upped their price objective on shares of Associated British Foods from GBX 3,100 ($41.72) to GBX 3,200 ($43.07) and gave the stock a hold rating in a report on Monday, September 18th. J P Morgan Chase & Co restated an overweight rating and set a GBX 3,600 ($48.45) price objective on shares of Associated British Foods in a report on Wednesday, November 15th. Finally, restated a buy rating and set a GBX 3,700 ($49.80) price objective on shares of Associated British Foods in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of GBX 3,415.90 ($45.97).
Shares of Associated British Foods (ABF) opened at GBX 2,895 ($38.96) on Monday. Associated British Foods has a 1-year low of GBX 2,335 ($31.43) and a 1-year high of GBX 3,387 ($45.59).
Associated British Foods (LON:ABF) last posted its quarterly earnings data on Tuesday, November 7th. The company reported GBX 127.10 ($1.71) EPS for the quarter, beating the Zacks’ consensus estimate of GBX 125.90 ($1.69) by GBX 1.20 ($0.02). Associated British Foods had a net margin of 7.01% and a return on equity of 12.97%. The company had revenue of GBX 1,535.70 billion for the quarter.
The business also recently disclosed a dividend, which will be paid on Friday, January 12th. Investors of record on Thursday, December 14th will be issued a dividend of GBX 29.65 ($0.40) per share. This represents a yield of 0.97%. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from Associated British Foods’s previous dividend of $11.35.
In related news, insider John Bason sold 21,716 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of GBX 3,043 ($40.96), for a total transaction of £660,817.88 ($889,391.49).
Associated British Foods Company Profile
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.
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