Associated British Foods plc (LON:ABF – Get Free Report)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as GBX 2,396 ($29.42) and last traded at GBX 2,360 ($28.98), with a volume of 44287 shares traded. The stock had previously closed at GBX 2,380 ($29.23).
Wall Street Analyst Weigh In
ABF has been the topic of several recent analyst reports. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research report on Tuesday, September 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a GBX 1,875 ($23.03) price target on shares of Associated British Foods in a research report on Wednesday, September 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Associated British Foods has a consensus rating of “Hold” and a consensus price target of GBX 2,079.17 ($25.53).
Associated British Foods Stock Down 0.8 %
Associated British Foods Increases Dividend
The firm also recently declared a dividend, which will be paid on Friday, January 12th. Stockholders of record on Thursday, December 14th will be issued a dividend of GBX 45.80 ($0.56) per share. The ex-dividend date is Thursday, December 14th. This represents a dividend yield of 2.17%. This is an increase from Associated British Foods’s previous dividend of $14.20. Associated British Foods’s dividend payout ratio (DPR) is currently 3,507.46%.
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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