Associated British Foods plc (LON:ABF) Insider Acquires £34,320 in Stock

Associated British Foods plc (LON:ABFGet Rating) insider Graham Allan purchased 2,200 shares of the business’s stock in a transaction dated Tuesday, April 26th. The stock was bought at an average cost of GBX 1,560 ($19.88) per share, with a total value of £34,320 ($43,742.03).

LON ABF traded down GBX 8.29 ($0.11) during trading hours on Wednesday, reaching GBX 1,540.21 ($19.63). 1,091,037 shares of the stock traded hands, compared to its average volume of 1,106,901. The stock has a 50 day simple moving average of GBX 1,722.37 and a two-hundred day simple moving average of GBX 1,867.48. Associated British Foods plc has a 1 year low of GBX 1,462.50 ($18.64) and a 1 year high of GBX 2,389 ($30.45). The company has a debt-to-equity ratio of 36.86, a current ratio of 1.86 and a quick ratio of 1.09. The company has a market cap of £12.19 billion and a price-to-earnings ratio of 26.07.

The company also recently declared a dividend, which will be paid on Friday, July 8th. Shareholders of record on Thursday, June 9th will be given a dividend of GBX 13.80 ($0.18) per share. The ex-dividend date is Thursday, June 9th. This represents a yield of 0.85%. Associated British Foods’s payout ratio is 0.10%.

A number of research firms have recently commented on ABF. Morgan Stanley reaffirmed an “equal weight” rating on shares of Associated British Foods in a report on Tuesday. Barclays lowered their price objective on Associated British Foods from GBX 2,700 ($34.41) to GBX 2,500 ($31.86) and set an “overweight” rating on the stock in a research report on Wednesday, April 6th. Liberum Capital reiterated a “buy” rating and issued a GBX 2,600 ($33.14) price objective on shares of Associated British Foods in a research report on Thursday, January 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 2,300 ($29.31) price objective on shares of Associated British Foods in a research report on Tuesday, March 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 2,100 ($26.77) price objective on shares of Associated British Foods in a research report on Monday, April 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 2,478.33 ($31.59).

About Associated British Foods (Get Rating)

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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