Associated British Foods (LON:ABF) Hits New 1-Year Low – What’s Next?

Shares of Associated British Foods plc (LON:ABF) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 2,069 ($26.30) and last traded at GBX 2,072 ($26.34), with a volume of 3475057 shares trading hands. The stock had previously closed at GBX 2,106 ($26.77).

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a “sell” rating and reduced their target price for the stock from GBX 2,290 ($29.11) to GBX 2,190 ($27.84) in a report on Tuesday, August 27th. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a report on Tuesday, September 3rd.

Associated British Foods Stock Performance

The stock has a fifty day simple moving average of GBX 2,258.94 and a 200-day simple moving average of GBX 2,387.33. The stock has a market cap of £15.25 billion, a P/E ratio of 1,336.77, a PEG ratio of 1.51 and a beta of 1.24. 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 Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be given a dividend of GBX 69.30 ($0.88) per share. The ex-dividend date is Thursday, December 12th. This represents a yield of 3.03%. This is an increase from Associated British Foods’s previous dividend of $20.70. Associated British Foods’s dividend payout ratio is 3,483.87%.

Insider Buying and Selling

In other news, insider Loraine Woodhouse acquired 4,164 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was bought at an average price of GBX 2,389 ($30.37) per share, with a total value of £99,477.96 ($126,465.75). Also, insider George G. Weston sold 56,653 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of GBX 2,161 ($27.47), for a total transaction of £1,224,271.33 ($1,556,409.01). 58.08% of the stock is currently owned by corporate insiders.

Associated British Foods Company Profile

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.