Associated British Foods (ABF) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada restated their sector performer rating on shares of Associated British Foods (LON:ABF) in a research note published on Monday. They currently have a GBX 3,100 ($42.04) price target on the stock.

ABF has been the subject of several other research reports. Deutsche Bank reaffirmed a buy rating and set a GBX 3,500 ($47.46) target price on shares of Associated British Foods in a report on Wednesday, October 11th. Credit Suisse Group reaffirmed an outperform rating and set a GBX 3,600 ($48.82) target price on shares of Associated British Foods in a report on Monday, September 11th. Berenberg Bank lifted their target price on shares of Associated British Foods from GBX 3,100 ($42.04) to GBX 3,200 ($43.40) and gave the stock a hold rating in a report on Monday, September 18th. Liberum Capital reaffirmed a buy rating and set a GBX 3,150 ($42.72) target price on shares of Associated British Foods in a report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 3,600 ($48.82) target price on shares of Associated British Foods in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of GBX 3,395.90 ($46.05).

Associated British Foods (ABF) opened at GBX 2,827 ($38.34) on Monday. The firm has a market cap of $22,370.00 and a PE ratio of 1,859.87. Associated British Foods has a 52 week low of GBX 2,335 ($31.67) and a 52 week high of GBX 3,387 ($45.93).

Associated British Foods (LON:ABF) last released its quarterly earnings data on Tuesday, November 7th. The company reported GBX 127.10 ($1.72) earnings per share for the quarter, topping the consensus estimate of GBX 125.90 ($1.71) by GBX 1.20 ($0.02). The company had revenue of GBX 1,535.70 billion for the quarter. Associated British Foods had a net margin of 7.01% and a return on equity of 12.97%.

The firm also recently disclosed a dividend, which will be paid on Friday, January 12th. Shareholders of record on Thursday, December 14th will be issued a GBX 29.65 ($0.40) dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a yield of 0.97%. This is an increase from Associated British Foods’s previous dividend of $11.35.

In other news, insider John Bason sold 21,716 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of GBX 3,043 ($41.27), for a total transaction of £660,817.88 ($896,145.76).

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Associated British Foods Company Profile

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.

Analyst Recommendations for Associated British Foods (LON:ABF)

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