Associated British Foods (LON:ABF) Hits New 12-Month Low – Here’s Why

Associated British Foods plc (LON:ABF) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 2,156 ($27.33) and last traded at GBX 2,165 ($27.44), with a volume of 1129542 shares. The stock had previously closed at GBX 2,188 ($27.73).

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABF. Deutsche Bank Aktiengesellschaft cut shares of Associated British Foods to a “sell” rating and lowered their price objective for the company from GBX 2,290 ($29.03) to GBX 2,190 ($27.76) in a research report on Tuesday, August 27th. Shore Capital restated a “buy” rating on shares of Associated British Foods in a research report on Tuesday, September 3rd.

Associated British Foods Stock Performance

The company’s 50-day moving average price is GBX 2,290.08 and its two-hundred day moving average price is GBX 2,453.37. The company has a debt-to-equity ratio of 33.71, a quick ratio of 0.93 and a current ratio of 1.79. The stock has a market cap of £15.87 billion, a PE ratio of 1,411.61, a PEG ratio of 1.51 and a beta of 1.24.

Associated British Foods Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 12th will be issued a dividend of GBX 69.30 ($0.88) per share. The ex-dividend date is Thursday, December 12th. This represents a dividend yield of 3.03%. This is a positive change from Associated British Foods’s previous dividend of $20.70. Associated British Foods’s dividend payout ratio (DPR) is currently 3,483.87%.

Insider Activity at Associated British Foods

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 price of GBX 2,389 ($30.28) per share, with a total value of £99,477.96 ($126,097.05). 58.08% 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.