Associated British Foods (LON:ABF) Share Price Passes Above Two Hundred Day Moving Average of $2,434.03

Associated British Foods plc (LON:ABF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,434.03 ($30.93) and traded as high as GBX 2,492 ($31.66). Associated British Foods shares last traded at GBX 2,468 ($31.36), with a volume of 3,086,485 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Associated British Foods from GBX 2,000 ($25.41) to GBX 2,250 ($28.59) and gave the stock a “neutral” rating in a report on Tuesday, April 30th. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research note on Thursday, April 18th.

Associated British Foods Price Performance

The firm’s 50 day simple moving average is GBX 2,604.52 and its two-hundred day simple moving average is GBX 2,434.24. The company has a debt-to-equity ratio of 33.71, a current ratio of 1.79 and a quick ratio of 0.93. The firm has a market capitalization of £18.54 billion, a P/E ratio of 1,592.26, a P/E/G ratio of 1.39 and a beta of 1.23.

Associated British Foods Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, May 30th will be issued a dividend of GBX 20.70 ($0.26) per share. This represents a yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 30th. Associated British Foods’s dividend payout ratio is presently 3,483.87%.

Insider Buying and Selling

In related news, insider Annie Murphy acquired 1,830 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average price of GBX 2,696 ($34.26) per share, with a total value of £49,336.80 ($62,689.71). In other news, insider Annie Murphy bought 1,830 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of GBX 2,696 ($34.26) per share, with a total value of £49,336.80 ($62,689.71). Also, insider Kumsal Bayazit purchased 2,930 shares of the company’s stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of GBX 2,728 ($34.66) per share, with a total value of £79,930.40 ($101,563.41). 58.72% of the stock is owned by corporate insiders.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, 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.