Associated British Foods (OTCMKTS:ASBFY) Stock Crosses Below 50 Day Moving Average of $20.07

Associated British Foods plc (OTCMKTS:ASBFYGet Rating) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $20.07 and traded as low as $19.86. Associated British Foods shares last traded at $20.14, with a volume of 12,060 shares traded.

Analyst Ratings Changes

ASBFY has been the topic of several analyst reports. JPMorgan Chase & Co. cut Associated British Foods from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 21st. Grupo Santander cut Associated British Foods from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Associated British Foods from GBX 1,900 ($23.28) to GBX 1,850 ($22.67) in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2,275.00.

Associated British Foods Stock Down 0.1 %

The company has a 50-day simple moving average of $20.07 and a 200-day simple moving average of $22.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.23 and a current ratio of 1.99.

Associated British Foods Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, July 22nd. Shareholders of record on Friday, June 10th were given a dividend of $0.139 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a dividend yield of 2.55%.

Associated British Foods Company Profile

(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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