Associated British Foods (LON:ABF) Hits New 52-Week High at $2,770.66

Associated British Foods plc (LON:ABF) hit a new 52-week high during trading on Friday . The company traded as high as GBX 2,770.66 ($35.21) and last traded at GBX 2,770.66 ($35.21), with a volume of 671215 shares. The stock had previously closed at GBX 2,714 ($34.49).

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research report on Thursday, April 18th. JPMorgan Chase & Co. raised their target price on shares of Associated British Foods from GBX 2,000 ($25.42) to GBX 2,250 ($28.60) and gave the stock a “neutral” rating in a research report on Tuesday, April 30th.

Associated British Foods Stock Up 2.1 %

The company has a debt-to-equity ratio of 33.71, a current ratio of 1.79 and a quick ratio of 0.93. The stock has a market capitalization of £20.81 billion, a price-to-earnings ratio of 1,787.52, a PEG ratio of 1.39 and a beta of 1.23. The firm’s fifty day moving average is GBX 2,547.52 and its 200-day moving average is GBX 2,402.28.

Associated British Foods Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, May 30th will be given a GBX 20.70 ($0.26) dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a dividend yield of 0.83%. Associated British Foods’s payout ratio is 3,483.87%.

Insider Buying and Selling

In other Associated British Foods news, insider Kumsal Bayazit acquired 2,930 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of GBX 2,728 ($34.67) per share, for a total transaction of £79,930.40 ($101,589.22). 58.72% of the stock is currently owned by company insiders.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, 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.