Shares of Associated British Foods plc (LON:ABF) have earned a consensus recommendation of “Buy” from the sixteen analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is GBX 2,933.18 ($38.33).
Several analysts have recently commented on the company. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research note on Friday, September 7th. Liberum Capital reissued a “buy” rating on shares of Associated British Foods in a research note on Friday. Credit Suisse Group lowered their price objective on Associated British Foods from GBX 3,300 ($43.12) to GBX 2,950 ($38.55) and set an “outperform” rating for the company in a research note on Tuesday, September 11th. Deutsche Bank lowered their price objective on Associated British Foods from GBX 3,100 ($40.51) to GBX 3,000 ($39.20) and set a “buy” rating for the company in a research note on Thursday, August 30th. Finally, UBS Group reissued a “buy” rating on shares of Associated British Foods in a research note on Friday, September 7th.
LON:ABF traded down GBX 108 ($1.41) on Monday, hitting GBX 2,242 ($29.30). The stock had a trading volume of 2,100,899 shares, compared to its average volume of 972,940. Associated British Foods has a 52 week low of GBX 2,476 ($32.35) and a 52 week high of GBX 3,387 ($44.26).
The firm also recently declared a dividend, which will be paid on Friday, January 11th. Investors of record on Thursday, December 13th will be given a dividend of GBX 33.30 ($0.44) per share. This represents a dividend yield of 1.35%. This is an increase from Associated British Foods’s previous dividend of $11.70. The ex-dividend date of this dividend is Thursday, December 13th.
In other Associated British Foods news, insider John Bason purchased 18,438 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The stock was bought at an average cost of GBX 2,495 ($32.60) per share, with a total value of £460,028.10 ($601,108.19).
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, 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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