Trading Report: The Associated British Foods plc (ABF) PT Raised to GBX 2,650

The Associated British Foods plc (ABF) PT Raised to GBX 2,650

Associated British Foods plc (LON:ABF) had its target price upped by equities researchers at Goldman Sachs Group Inc. from GBX 2,600 ($32.48) to GBX 2,650 ($33.11) in a research report issued on Monday. The brokerage presently has a “neutral” rating on the stock. Goldman Sachs Group Inc.’s price objective suggests a potential upside of 1.72% from the company’s current price.

Other analysts have also recently issued research reports about the company. HSBC restated a “buy” rating and set a GBX 3,300 ($41.23) price objective on shares of Associated British Foods plc in a research note on Wednesday, August 10th. BNP Paribas restated an “outperform” rating and set a GBX 3,300 ($41.23) price objective on shares of Associated British Foods plc in a research note on Wednesday, August 3rd. Citigroup Inc. upped their price objective on Associated British Foods plc from GBX 2,600 ($32.48) to GBX 3,000 ($37.48) and gave the company a “neutral” rating in a research note on Thursday, September 15th. Berenberg Bank cut Associated British Foods plc to a “hold” rating and upped their price objective for the company from GBX 2,760 ($34.48) to GBX 3,000 ($37.48) in a research note on Wednesday, August 31st. Finally, Liberum Capital restated a “buy” rating and set a GBX 3,500 ($43.73) price objective on shares of Associated British Foods plc in a research note on Monday, November 14th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of GBX 3,027.05 ($37.82).

Associated British Foods plc (LON:ABF) opened at 2603.00 on Monday. The firm’s market capitalization is GBX 20.57 billion. The company’s 50-day moving average price is GBX 2,519.73 and its 200 day moving average price is GBX 2,768.63. Associated British Foods plc has a one year low of GBX 1,910.00 and a one year high of GBX 3,606.00.

The company also recently declared a dividend, which will be paid on Friday, January 13th. Shareholders of record on Thursday, December 15th will be paid a dividend of GBX 26.45 ($0.33) per share. This is a positive change from Associated British Foods plc’s previous dividend of $10.30. This represents a yield of 1%. The ex-dividend date of this dividend is Thursday, December 15th.

In other news, insider Charles J. F. Sinclair purchased 3,240 shares of the firm’s stock in a transaction on Thursday, November 24th. The stock was purchased at an average cost of GBX 2,595 ($32.42) per share, with a total value of £84,078 ($105,044.98).

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