Associated British Foods (LON:ABF) Share Price Crosses Above 200 Day Moving Average of $2,373.03

Associated British Foods plc (LON:ABF)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2,373.03 and traded as high as $2,506.00. Associated British Foods shares last traded at $2,505.00, with a volume of 710,133 shares trading hands.

A number of analysts recently issued reports on the company. Liberum Capital reiterated a “buy” rating and set a GBX 3,070 ($40.11) price objective on shares of Associated British Foods in a research note on Tuesday, November 5th. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research note on Monday, September 9th. Jefferies Financial Group boosted their price objective on Associated British Foods from GBX 2,950 ($38.55) to GBX 3,020 ($39.46) and gave the company a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 2,740 ($35.80) price objective on shares of Associated British Foods in a research note on Thursday, September 5th. Finally, Royal Bank of Canada boosted their price objective on Associated British Foods from GBX 2,700 ($35.28) to GBX 2,800 ($36.59) and gave the company an “outperform” rating in a research note on Monday, November 25th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Associated British Foods currently has an average rating of “Buy” and an average target price of GBX 2,855.64 ($37.31).

The firm has a market capitalization of $19.82 billion and a P/E ratio of 22.55. The company has a debt-to-equity ratio of 6.16, a quick ratio of 0.91 and a current ratio of 1.82. The business has a 50 day simple moving average of GBX 2,370.76 and a two-hundred day simple moving average of GBX 2,373.03.

The firm also recently announced a dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be paid a GBX 34.30 ($0.45) dividend. This is a positive change from Associated British Foods’s previous dividend of $12.05. This represents a yield of 1.44%. The ex-dividend date is Thursday, December 12th. Associated British Foods’s dividend payout ratio is currently 0.41%.

In other Associated British Foods news, insider Ruth Cairnie bought 1,110 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were acquired at an average cost of GBX 2,231 ($29.15) per share, for a total transaction of £24,764.10 ($32,358.68). Also, insider John Bason sold 20,827 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of GBX 2,536 ($33.14), for a total value of £528,172.72 ($690,151.21).

About Associated British Foods (LON:ABF)

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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