Liberum Capital reaffirmed their buy rating on shares of Associated British Foods (LON:ABF) in a research note published on Wednesday, ThisIsMoney.Co.Uk reports.
Several other equities analysts have also weighed in on the company. Shore Capital restated a buy rating on shares of Associated British Foods in a report on Wednesday. UBS Group restated a buy rating on shares of Associated British Foods in a report on Tuesday, April 23rd. Barclays raised their target price on Associated British Foods from GBX 3,300 ($43.12) to GBX 3,400 ($44.43) and gave the company an overweight rating in a report on Wednesday, April 10th. Jefferies Financial Group cut their target price on Associated British Foods from GBX 3,200 ($41.81) to GBX 2,800 ($36.59) and set a buy rating on the stock in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. reiterated an overweight rating and issued a GBX 2,740 ($35.80) price objective on shares of Associated British Foods in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of GBX 2,896.69 ($37.85).
LON ABF opened at GBX 2,566 ($33.53) on Wednesday. Associated British Foods has a fifty-two week low of GBX 2,011 ($26.28) and a fifty-two week high of GBX 2,846 ($37.19). The company has a debt-to-equity ratio of 8.37, a quick ratio of 0.83 and a current ratio of 1.63. The stock has a market cap of $20.21 billion and a price-to-earnings ratio of 20.13.
The firm also recently disclosed a dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 6th will be paid a GBX 12.05 ($0.16) dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a dividend yield of 0.47%. Associated British Foods’s payout ratio is presently 0.35%.
In other Associated British Foods news, insider Graham Allan acquired 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of GBX 2,250 ($29.40) per share, for a total transaction of £67,500 ($88,200.71).
About Associated British Foods
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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