Associated British Foods (LON:ABF) Stock Passes Above 200 Day Moving Average of $1,531.34

Associated British Foods plc (LON:ABF – Get Rating)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,531.34 ($18.96) and traded as high as GBX 1,869.50 ($23.15). Associated British Foods shares last traded at GBX 1,869.50 ($23.15), with a volume of 975,480 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ABF shares. JPMorgan Chase & Co. restated a “neutral” rating and set a GBX 1,630 ($20.18) price target on shares of Associated British Foods in a research note on Wednesday, November 9th. Barclays increased their target price on Associated British Foods from GBX 1,500 ($18.57) to GBX 1,700 ($21.05) and gave the company an “equal weight” rating in a research note on Wednesday, November 9th. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research note on Friday, December 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Associated British Foods from GBX 1,575 ($19.50) to GBX 1,600 ($19.81) and gave the company a “hold” rating in a research note on Wednesday, November 9th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Associated British Foods has a consensus rating of “Hold” and a consensus price target of GBX 1,656 ($20.50).

Associated British Foods Trading Up 2.4 %

The business has a 50 day simple moving average of GBX 1,644.54 and a two-hundred day simple moving average of GBX 1,531.34. The company has a current ratio of 1.93, a quick ratio of 0.93 and a debt-to-equity ratio of 33.66. The stock has a market cap of £14.72 billion and a price-to-earnings ratio of 2,124.43.

Associated British Foods Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 13th. Shareholders of record on Thursday, December 15th were paid a dividend of GBX 29.90 ($0.37) per share. This represents a yield of 2.09%. The ex-dividend date was Thursday, December 15th. This is a positive change from Associated British Foods’s previous dividend of $13.80. Associated British Foods’s dividend payout ratio (DPR) is 38.98%.

About Associated British Foods

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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.