JPMorgan Chase & Co. Reaffirms Overweight Rating for Associated British Foods (ABF)

JPMorgan Chase & Co. reissued their overweight rating on shares of Associated British Foods (LON:ABF) in a research report sent to investors on Friday morning.

A number of other research firms also recently weighed in on ABF. UBS Group restated a buy rating on shares of Associated British Foods in a report on Tuesday, November 6th. Royal Bank of Canada cut their price target on shares of Associated British Foods from GBX 3,100 ($40.51) to GBX 2,700 ($35.28) and set an outperform rating on the stock in a report on Tuesday, October 16th. Liberum Capital restated a buy rating on shares of Associated British Foods in a report on Thursday. Barclays restated an overweight rating on shares of Associated British Foods in a report on Wednesday, November 7th. Finally, Shore Capital restated a buy rating on shares of Associated British Foods in a report on Thursday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of GBX 2,975.63 ($38.88).

Shares of LON:ABF opened at GBX 2,351 ($30.72) on Friday. Associated British Foods has a 12-month low of GBX 2,476 ($32.35) and a 12-month high of GBX 3,387 ($44.26).

The firm also recently declared a dividend, which was paid on Friday, January 11th. Stockholders of record on Thursday, December 13th were issued a dividend of GBX 33.30 ($0.44) per share. The ex-dividend date was Thursday, December 13th. This represents a dividend yield of 1.35%. This is an increase from Associated British Foods’s previous dividend of $11.70.

In other Associated British Foods news, insider John Bason purchased 18,438 shares of the business’s stock in a transaction dated Monday, November 26th. The shares were acquired at an average price of GBX 2,495 ($32.60) per share, for a total transaction of £460,028.10 ($601,108.19).

Associated British Foods Company Profile

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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Analyst Recommendations for Associated British Foods (LON:ABF)

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