JPMorgan Chase & Co. reiterated their overweight rating on shares of Associated British Foods plc (LON:ABF) in a report released on Thursday morning. They currently have a GBX 3,300 ($41.54) price objective on the stock.
ABF has been the subject of a number of other reports. Kepler Capital Markets reissued a hold rating and issued a GBX 2,700 ($33.98) price objective on shares of Associated British Foods plc in a research report on Friday, January 6th. Deutsche Bank AG reissued a buy rating on shares of Associated British Foods plc in a research report on Sunday, January 15th. HSBC Holdings plc reissued a buy rating and issued a GBX 3,300 ($41.54) price objective on shares of Associated British Foods plc in a research report on Monday, January 9th. Credit Suisse Group AG reissued an outperform rating and issued a GBX 3,550 ($44.68) price objective on shares of Associated British Foods plc in a research report on Wednesday, February 22nd. Finally, BNP Paribas cut shares of Associated British Foods plc to a neutral rating and decreased their price objective for the company from GBX 2,900 ($36.50) to GBX 2,800 ($35.24) in a research report on Friday, January 13th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Associated British Foods plc presently has an average rating of Buy and a consensus price target of GBX 3,036 ($38.21).
Shares of Associated British Foods plc (LON:ABF) traded up 1.96% during midday trading on Thursday, hitting GBX 2814.00. The stock had a trading volume of 1,639,332 shares. Associated British Foods plc has a 12-month low of GBX 1,910.00 and a 12-month high of GBX 3,224.00. The stock has a 50-day moving average price of GBX 2,628.19 and a 200-day moving average price of GBX 2,581.17. The stock’s market cap is GBX 22.24 billion.
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The firm also recently announced a dividend, which will be paid on Friday, July 7th. Shareholders of record on Thursday, June 8th will be issued a GBX 11.35 ($0.14) dividend. The ex-dividend date is Thursday, June 8th. This represents a yield of 0.41%.
In other Associated British Foods plc news, insider Ruth Cairnie bought 876 shares of the business’s stock in a transaction on Thursday, February 9th. The shares were purchased at an average price of GBX 2,489 ($31.33) per share, with a total value of £21,803.64 ($27,443.22).
About Associated British Foods plc
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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