J P Morgan Chase & Co restated their overweight rating on shares of Associated British Foods (LON:ABF) in a research report sent to investors on Tuesday. The brokerage currently has a GBX 3,600 ($48.45) price objective on the stock.
A number of other analysts have also recently issued reports on the company. Morgan Stanley cut Associated British Foods to an equal weight rating and increased their target price for the stock from GBX 2,800 ($37.69) to GBX 3,100 ($41.72) in a research note on Tuesday, November 28th. Liberum Capital increased their target price on Associated British Foods from GBX 3,150 ($42.40) to GBX 3,500 ($47.11) and gave the stock a buy rating in a research note on Monday, November 27th. Deutsche Bank reissued a buy rating and set a GBX 3,500 ($47.11) target price on shares of Associated British Foods in a research note on Tuesday, November 21st. Credit Suisse Group increased their target price on Associated British Foods from GBX 3,600 ($48.45) to GBX 3,700 ($49.80) and gave the stock an outperform rating in a research note on Monday, November 20th. Finally, HSBC reissued a buy rating and set a GBX 3,700 ($49.80) target price on shares of Associated British Foods in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of GBX 3,415.90 ($45.97).
Shares of Associated British Foods (ABF) opened at GBX 2,926 ($39.38) on Tuesday. Associated British Foods has a 52 week low of GBX 2,335 ($31.43) and a 52 week high of GBX 3,387 ($45.59).
The business also recently disclosed a dividend, which will be paid on Friday, January 12th. Stockholders of record on Thursday, December 14th will be issued a GBX 29.65 ($0.40) dividend. This represents a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from Associated British Foods’s previous dividend of $11.35.
In other news, insider John Bason sold 21,716 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($40.96), for a total value of £660,817.88 ($889,391.49).
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Associated British Foods Company Profile
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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