Associated British Foods (LON:ABF) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Associated British Foods (LON:ABF) in a report issued on Tuesday, Marketbeat.com reports. Royal Bank of Canada currently has a GBX 2,300 ($28.62) price target on the stock.

Separately, Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research note on Thursday, January 23rd.

Associated British Foods Stock Down 0.6 %

Shares of LON:ABF opened at GBX 1,908.50 ($23.75) on Tuesday. Associated British Foods has a 1 year low of GBX 1,862 ($23.17) and a 1 year high of GBX 2,770.66 ($34.47). The business has a 50 day simple moving average of GBX 2,082.79 and a two-hundred day simple moving average of GBX 2,275.74. The firm has a market capitalization of £14.04 billion, a PE ratio of 1,231.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 33.71, a current ratio of 1.79 and a quick ratio of 0.93.

Associated British Foods (LON:ABF) last announced its earnings results on Tuesday, November 5th. The company reported GBX 196.90 ($2.45) earnings per share (EPS) for the quarter. Associated British Foods had a return on equity of 10.69% and a net margin of 5.92%. On average, equities analysts predict that Associated British Foods will post 188.0990415 EPS for the current year.

Associated British Foods Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 12th were issued a GBX 69.30 ($0.86) dividend. This is a positive change from Associated British Foods’s previous dividend of $20.70. This represents a yield of 3.03%. The ex-dividend date of this dividend was Thursday, December 12th. Associated British Foods’s payout ratio is currently 3,483.87%.

Insiders Place Their Bets

In other news, insider Loraine Woodhouse purchased 4,164 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were acquired at an average cost of GBX 2,389 ($29.73) per share, with a total value of £99,477.96 ($123,774.99). Also, insider George G. Weston sold 56,653 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of GBX 2,161 ($26.89), for a total transaction of £1,224,271.33 ($1,523,293.93). Corporate insiders own 58.08% of the company’s stock.

Associated British Foods Company Profile

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money.