Associated British Foods (LON:ABF) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Associated British Foods (LON:ABFGet Rating) to a neutral rating in a research report report published on Tuesday morning, Marketbeat.com reports. They currently have GBX 1,900 ($23.27) target price on the stock, down from their previous target price of GBX 1,940 ($23.76).

A number of other analysts have also commented on ABF. Royal Bank of Canada reaffirmed a sector perform rating and set a GBX 1,850 ($22.66) target price on shares of Associated British Foods in a report on Monday, May 30th. Shore Capital reaffirmed a buy rating on shares of Associated British Foods in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a GBX 1,900 ($23.27) target price on shares of Associated British Foods in a report on Tuesday. Morgan Stanley reissued an equal weight rating on shares of Associated British Foods in a report on Wednesday, May 11th. Finally, Barclays boosted their price target on shares of Associated British Foods from GBX 1,647 ($20.17) to GBX 2,300 ($28.17) and gave the company an overweight rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Associated British Foods has an average rating of Moderate Buy and an average price target of GBX 2,170 ($26.58).

ABF opened at GBX 1,611.50 ($19.74) on Tuesday. The company has a fifty day moving average price of GBX 1,634.04 and a two-hundred day moving average price of GBX 1,793.75. The company has a debt-to-equity ratio of 37.25, a quick ratio of 1.15 and a current ratio of 1.99. Associated British Foods has a 52 week low of GBX 1,462.50 ($17.91) and a 52 week high of GBX 2,364 ($28.96). The firm has a market capitalization of £12.76 billion and a PE ratio of 16.07.

The company also recently declared a dividend, which will be paid on Friday, July 8th. Stockholders of record on Thursday, June 9th will be issued a GBX 13.80 ($0.17) dividend. This represents a dividend yield of 0.85%. The ex-dividend date is Thursday, June 9th. Associated British Foods’s dividend payout ratio (DPR) is 0.27%.

In related news, insider Graham Allan acquired 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average cost of GBX 1,560 ($19.11) per share, with a total value of £34,320 ($42,038.22).

About Associated British Foods (Get Rating)

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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Analyst Recommendations for Associated British Foods (LON:ABF)

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