Associated British Foods (OTCMKTS:ASBFY) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Associated British Foods (OTCMKTS:ASBFYGet Rating) from an overweight rating to a neutral rating in a report released on Tuesday, The Fly reports.

A number of other research analysts have also recently commented on the company. Morgan Stanley cut Associated British Foods from an overweight rating to an equal weight rating in a research note on Friday, March 11th. Grupo Santander cut Associated British Foods from an outperform rating to a neutral rating in a research note on Wednesday, April 27th. Finally, Societe Generale cut Associated British Foods from a buy rating to a hold rating in a research note on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Associated British Foods currently has a consensus rating of Hold and an average target price of $2,700.00.

Shares of OTCMKTS ASBFY opened at $19.84 on Tuesday. The business’s 50 day moving average is $20.48 and its two-hundred day moving average is $23.60. Associated British Foods has a 1-year low of $18.82 and a 1-year high of $32.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.86 and a quick ratio of 1.20.

The company also recently declared a dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, June 10th will be issued a $0.139 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a dividend yield of 2.55%.

Associated British Foods Company Profile (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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