Associated British Foods plc (LON:ABF) declared a dividend on Tuesday, November 5th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, December 12th will be paid a dividend of GBX 34.30 ($0.45) per share on Friday, January 10th. This represents a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Associated British Foods’s previous dividend of $12.05. The official announcement can be seen at this link.
Shares of Associated British Foods stock traded up GBX 125 ($1.63) during trading hours on Tuesday, hitting GBX 2,374 ($31.02). The company had a trading volume of 1,631,767 shares, compared to its average volume of 972,940. The company’s 50-day moving average is GBX 2,237.12 and its two-hundred day moving average is GBX 2,378.82. Associated British Foods has a twelve month low of GBX 2,011 ($26.28) and a twelve month high of GBX 2,659 ($34.74). The company has a debt-to-equity ratio of 8.60, a current ratio of 1.73 and a quick ratio of 0.89. The company has a market cap of $18.85 billion and a P/E ratio of 20.50.
In other Associated British Foods news, insider Ruth Cairnie purchased 1,110 shares of Associated British Foods stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of GBX 2,231 ($29.15) per share, for a total transaction of £24,764.10 ($32,358.68).
Several research analysts have recently issued reports on the stock. Berenberg Bank lowered their target price on shares of Associated British Foods from GBX 2,800 ($36.59) to GBX 2,700 ($35.28) and set a “buy” rating for the company in a report on Monday, October 21st. Liberum Capital restated a “buy” rating on shares of Associated British Foods in a report on Tuesday. UBS Group restated a “buy” rating on shares of Associated British Foods in a report on Friday, September 6th. Shore Capital restated a “buy” rating on shares of Associated British Foods in a report on Monday, September 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 2,950 ($38.55) target price on shares of Associated British Foods in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Associated British Foods has an average rating of “Buy” and a consensus price target of GBX 2,878.50 ($37.61).
About Associated British Foods
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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