Associated British Foods (LON:ABF) Share Price Passes Above 200-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 traded.

Analyst Upgrades and Downgrades

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

Associated British Foods Stock Performance

The business has a 50 day simple moving average of GBX 2,603.08 and a 200 day simple moving average of GBX 2,438.09. The company has a quick ratio of 0.93, a current ratio of 1.79 and a debt-to-equity ratio of 33.71. The company has a market capitalization of £18.60 billion, a PE ratio of 1,600.00, a PEG ratio of 1.39 and a beta of 1.23.

Associated British Foods Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 30th will be paid a GBX 20.70 ($0.26) dividend. 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 (DPR) is presently 3,483.87%.

Insider Buying and Selling at Associated British Foods

In other news, insider Kumsal Bayazit acquired 2,930 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were acquired at an average cost of GBX 2,728 ($34.51) per share, with a total value of £79,930.40 ($101,100.94). In related news, insider Annie Murphy bought 1,830 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average cost of GBX 2,696 ($34.10) per share, with a total value of £49,336.80 ($62,404.25). Also, insider Kumsal Bayazit bought 2,930 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were bought at an average cost of GBX 2,728 ($34.51) per share, for a total transaction of £79,930.40 ($101,100.94). Over the last ninety days, insiders acquired 5,155 shares of company stock worth $13,918,960. 58.72% of the stock is owned by insiders.

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.