Associated British Foods (LON:ABF) Share Price Crosses Above Two Hundred Day Moving Average of $2,441.49

Associated British Foods plc (LON:ABFGet Free Report)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 2,441.49 ($31.27) and traded as high as GBX 2,472 ($31.66). Associated British Foods shares last traded at GBX 2,453 ($31.42), with a volume of 666,950 shares trading hands.

Analyst Ratings Changes

ABF has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Associated British Foods from GBX 2,000 ($25.62) to GBX 2,250 ($28.82) and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research report on Thursday, April 18th.

Get Our Latest Research Report on ABF

Associated British Foods Price Performance

The company has a debt-to-equity ratio of 33.71, a quick ratio of 0.93 and a current ratio of 1.79. The company’s fifty day moving average price is GBX 2,584.58 and its 200 day moving average price is GBX 2,441.49. The firm has a market capitalization of £18.32 billion, a price-to-earnings ratio of 1,582.58, a price-to-earnings-growth ratio of 1.39 and a beta of 1.23.

Associated British Foods Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, May 30th were paid a GBX 20.70 ($0.27) dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a yield of 0.83%. Associated British Foods’s payout ratio is currently 3,483.87%.

Insider Activity

In related news, insider Kumsal Bayazit acquired 2,930 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average cost of GBX 2,728 ($34.94) per share, for a total transaction of £79,930.40 ($102,382.99). In other news, insider Kumsal Bayazit bought 2,930 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was purchased at an average price of GBX 2,728 ($34.94) per share, for a total transaction of £79,930.40 ($102,382.99). Also, insider Annie Murphy purchased 1,830 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of GBX 2,696 ($34.53) per share, for a total transaction of £49,336.80 ($63,195.59). Over the last ninety days, insiders purchased 5,155 shares of company stock valued at $13,918,960. 58.72% of the stock is currently owned by insiders.

Associated British Foods Company Profile

(Get Free Report)

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, 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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