Associated British Foods plc’s (ABF) “Buy” Rating Reaffirmed at HSBC Holdings plc

HSBC Holdings plc restated their buy rating on shares of Associated British Foods plc (LON:ABF) in a report issued on Thursday. HSBC Holdings plc currently has a GBX 3,350 ($42.16) price objective on the stock.

ABF has been the topic of several other reports. Kepler Capital Markets restated a hold rating and issued a GBX 2,700 ($33.98) price objective on shares of Associated British Foods plc in a research report on Friday, January 6th. Deutsche Bank AG restated a buy rating on shares of Associated British Foods plc in a research report on Sunday, January 15th. Credit Suisse Group AG restated an outperform rating and issued a GBX 3,550 ($44.68) price objective on shares of Associated British Foods plc in a research report on Wednesday, February 22nd. BNP Paribas cut shares of Associated British Foods plc to a neutral rating and decreased their price objective for the stock from GBX 2,900 ($36.50) to GBX 2,800 ($35.24) in a research report on Friday, January 13th. Finally, JPMorgan Chase & Co. restated an overweight rating and issued a GBX 3,300 ($41.54) price objective on shares of Associated British Foods plc in a research report on Tuesday, January 17th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of GBX 3,036 ($38.21).

Associated British Foods plc (LON:ABF) traded up 1.96% during trading on Thursday, reaching GBX 2814.00. 1,639,332 shares of the company were exchanged. The stock’s market capitalization is GBX 22.24 billion. Associated British Foods plc has a one year low of GBX 1,910.00 and a one year high of GBX 3,224.00. The firm’s 50 day moving average price is GBX 2,628.19 and its 200-day moving average price is GBX 2,581.17.

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The business also recently disclosed a dividend, which will be paid on Friday, July 7th. Stockholders of record on Thursday, June 8th will be paid a dividend of GBX 11.35 ($0.14) per share. This represents a dividend yield of 0.41%. The ex-dividend date is Thursday, June 8th.

In related news, insider Ruth Cairnie acquired 876 shares of the company’s stock in a transaction dated Thursday, February 9th. The stock was purchased at an average price of GBX 2,489 ($31.33) per share, with a total value of £21,803.64 ($27,443.22).

About Associated British Foods plc

Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.

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