Associated British Foods (LON:ABF) Stock Price Passes Above 200 Day Moving Average of $2,348.69

Associated British Foods plc (LON:ABF)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,348.69 ($29.51) and traded as high as GBX 2,713 ($34.08). Associated British Foods shares last traded at GBX 2,687 ($33.76), with a volume of 614,398 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABF. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a report on Thursday, April 18th. JPMorgan Chase & Co. raised their target price on Associated British Foods from GBX 2,000 ($25.13) to GBX 2,250 ($28.27) and gave the stock a “neutral” rating in a research report on Tuesday, April 30th.

Associated British Foods Stock Up 0.4 %

The firm’s 50 day simple moving average is GBX 2,442.50 and its 200-day simple moving average is GBX 2,348.69. The company has a market cap of £20.28 billion, a price-to-earnings ratio of 1,733.55, a P/E/G ratio of 1.36 and a beta of 1.25. The company has a debt-to-equity ratio of 33.71, a current ratio of 1.79 and a quick ratio of 0.93.

Associated British Foods Cuts Dividend

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

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.