Associated British Foods (LON:ABF) Price Target Raised to GBX 2,250 at JPMorgan Chase & Co.

Associated British Foods (LON:ABF) had its target price increased by JPMorgan Chase & Co. from GBX 2,000 ($25.12) to GBX 2,250 ($28.26) in a research report released on Tuesday, Marketbeat reports. The firm currently has a neutral rating on the stock.

Separately, Shore Capital reissued a buy rating on shares of Associated British Foods in a research note on Thursday, April 18th.

Associated British Foods Stock Performance

ABF stock opened at GBX 2,646.65 ($33.25) on Tuesday. Associated British Foods has a 1 year low of GBX 1,804.50 ($22.67) and a 1 year high of GBX 2,765 ($34.73). The stock has a market capitalization of £19.94 billion, a price-to-earnings ratio of 1,982.09, a PEG ratio of 1.37 and a beta of 1.24. The company has a debt-to-equity ratio of 33.25, a quick ratio of 0.93 and a current ratio of 1.83. The stock’s fifty day moving average is GBX 2,405.60 and its two-hundred day moving average is GBX 2,324.

Associated British Foods Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, May 30th will be paid a GBX 20.70 ($0.26) dividend. The ex-dividend date is Thursday, May 30th. This represents a dividend yield of 0.83%. Associated British Foods’s payout ratio is 3,507.46%.

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.