Today: Goldman Sachs Group Inc. Raises Associated British Foods plc (ABF) Price Target to GBX 2,650

Today: Goldman Sachs Group Inc. Raises Associated British Foods plc (ABF) Price Target to GBX 2,650

Associated British Foods plc (LON:ABF) had its price objective hoisted by Goldman Sachs Group Inc. from GBX 2,600 ($32.25) to GBX 2,650 ($32.87) in a research note issued on Monday. The firm currently has a “neutral” rating on the stock. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 1.72% from the stock’s previous close.

A number of other research firms also recently weighed in on ABF. Numis Securities Ltd raised Associated British Foods plc to an “add” rating and lifted their target price for the stock from GBX 2,942 ($36.50) to GBX 3,000 ($37.22) in a research report on Friday, September 23rd. Deutsche Bank AG reissued a “buy” rating and set a GBX 3,200 ($39.70) target price on shares of Associated British Foods plc in a research report on Wednesday, August 31st. Liberum Capital reissued a “buy” rating and set a GBX 3,600 ($44.66) target price on shares of Associated British Foods plc in a research report on Thursday, August 11th. Finally, HSBC reissued a “buy” rating and set a GBX 3,300 ($40.94) target price on shares of Associated British Foods plc in a research report on Wednesday, August 10th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Associated British Foods plc currently has an average rating of “Hold” and an average price target of GBX 3,027.05 ($37.55).

Associated British Foods plc (LON:ABF) traded down 1.38% during mid-day trading on Monday, reaching GBX 2572.00. The company had a trading volume of 857,001 shares. The stock’s market capitalization is GBX 20.32 billion. Associated British Foods plc has a 52-week low of GBX 1,910.00 and a 52-week high of GBX 3,606.00. The company’s 50 day moving average is GBX 2,520.58 and its 200 day moving average is GBX 2,759.71.

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

In other news, insider Charles J. F. Sinclair purchased 3,240 shares of the firm’s stock in a transaction dated Thursday, November 24th. The stock was bought at an average price of GBX 2,595 ($32.19) per share, with a total value of £84,078 ($104,302.20).

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