Associated British Foods (ABF) Trading Down 0%
Associated British Foods plc (LON:ABF) shares were down 0% during mid-day trading on Thursday . The stock traded as low as GBX 2,810 ($37.57) and last traded at GBX 2,842 ($38.00). Approximately 1,040,036 shares were traded during trading, an increase of 29% from the average daily volume of 806,274 shares. The stock had previously closed at GBX 2,842 ($38.00).
Several research analysts have issued reports on ABF shares. Deutsche Bank reiterated a “buy” rating and set a GBX 3,500 ($46.80) price objective on shares of Associated British Foods in a research note on Tuesday, October 24th. Macquarie started coverage on Associated British Foods in a research note on Friday, October 27th. They issued an “underperform” rating and a GBX 2,900 ($38.78) target price for the company. Morgan Stanley lowered Associated British Foods to an “equal weight” rating and raised their target price for the company from GBX 2,800 ($37.44) to GBX 3,100 ($41.45) in a research note on Tuesday, November 28th. Goldman Sachs Group restated a “buy” rating and issued a GBX 3,585 ($47.93) target price on shares of Associated British Foods in a research note on Monday, September 11th. Finally, Credit Suisse Group restated an “outperform” rating and issued a GBX 3,600 ($48.13) target price on shares of Associated British Foods in a research note on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of GBX 3,395.90 ($45.41).
The firm has a market capitalization of $22,780.00 and a PE ratio of 1,896.05.
The company also recently disclosed a dividend, which will be paid on Friday, January 12th. Investors of record on Thursday, December 14th will be given a GBX 29.65 ($0.40) dividend. This represents a yield of 0.97%. This is a positive change from Associated British Foods’s previous dividend of $11.35. The ex-dividend date is Thursday, December 14th.
In related news, insider John Bason sold 21,716 shares of Associated British Foods stock in a transaction dated Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($40.69), for a total value of £660,817.88 ($883,564.49).
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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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