Associated British Foods (LON:ABF) Share Price Passes Above Two Hundred Day Moving Average of $2,437.13

Associated British Foods plc (LON:ABF) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,437.13 ($30.83) and traded as high as GBX 2,493 ($31.53). Associated British Foods shares last traded at GBX 2,466 ($31.19), with a volume of 549,767 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ABF shares. JPMorgan Chase & Co. upped their price target on Associated British Foods from GBX 2,000 ($25.30) to GBX 2,250 ($28.46) and gave the company a “neutral” rating in a research report on Tuesday, April 30th. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research report on Thursday, April 18th.

Associated British Foods Trading Down 1.2 %

The stock has a market capitalization of £18.53 billion, a P/E ratio of 1,590.97, a price-to-earnings-growth ratio of 1.39 and a beta of 1.23. The stock has a 50-day moving average price of GBX 2,612.84 and a two-hundred day moving average price of GBX 2,437.13. The company has a debt-to-equity ratio of 33.71, a quick ratio of 0.93 and a current ratio of 1.79.

Associated British Foods Cuts Dividend

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

Insider Buying and Selling

In related news, insider Dame Heather Rabbatts purchased 395 shares of the business’s stock in a transaction on Monday, June 24th. The stock was acquired at an average price of GBX 2,512 ($31.77) per share, with a total value of £9,922.40 ($12,550.47). In related news, insider Kumsal Bayazit acquired 2,930 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were acquired at an average cost of GBX 2,728 ($34.51) per share, for a total transaction of £79,930.40 ($101,100.94). Also, insider Dame Heather Rabbatts acquired 395 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were bought at an average price of GBX 2,512 ($31.77) per share, for a total transaction of £9,922.40 ($12,550.47). Insiders bought 5,155 shares of company stock valued at $13,918,960 over the last 90 days. Company insiders own 58.72% of the company’s stock.

About Associated British Foods

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.