JPMorgan Chase & Co. Lowers Associated British Foods (LON:ABF) to Neutral

JPMorgan Chase & Co. cut shares of Associated British Foods (LON:ABFGet Rating) to a neutral rating in a research note published on Tuesday morning, MarketBeat reports. The firm currently has GBX 1,900 ($23.27) price target on the stock, down from their previous price target of GBX 1,940 ($23.76).

ABF has been the subject of a number of other research reports. Royal Bank of Canada reiterated a sector perform rating and set a GBX 1,850 ($22.66) price objective on shares of Associated British Foods in a research report on Monday, May 30th. Barclays increased their price objective on Associated British Foods from GBX 1,647 ($20.17) to GBX 2,300 ($28.17) and gave the stock an overweight rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a hold rating and set a GBX 1,900 ($23.27) price objective on shares of Associated British Foods in a report on Tuesday. Shore Capital reissued a buy rating on shares of Associated British Foods in a research report on Monday. Finally, Morgan Stanley reissued an equal weight rating on shares of Associated British Foods in a research report on Wednesday, May 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from, the stock currently has an average rating of Moderate Buy and a consensus target price of GBX 2,170 ($26.58).

Shares of LON:ABF opened at GBX 1,611.50 ($19.74) on Tuesday. Associated British Foods has a one year low of GBX 1,462.50 ($17.91) and a one year high of GBX 2,364 ($28.96). The stock has a fifty day moving average of GBX 1,634.04 and a 200-day moving average of GBX 1,793.75. The company has a market capitalization of £12.76 billion and a PE ratio of 16.07. The company has a debt-to-equity ratio of 37.25, a quick ratio of 1.15 and a current ratio of 1.99.

The firm also recently declared a dividend, which will be paid on Friday, July 8th. Stockholders of record on Thursday, June 9th will be given a GBX 13.80 ($0.17) dividend. This represents a dividend yield of 0.85%. The ex-dividend date is Thursday, June 9th. Associated British Foods’s dividend payout ratio is currently 0.27%.

In other Associated British Foods news, insider Graham Allan purchased 2,200 shares of the stock in a transaction dated Tuesday, April 26th. The shares were bought at an average cost of GBX 1,560 ($19.11) per share, with a total value of £34,320 ($42,038.22).

About Associated British Foods (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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