Associated British Foods (LON:ABF) Shares Cross Above 200-Day Moving Average of $2,441.49

Shares of Associated British Foods plc (LON:ABF) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,441.49 ($31.27) and traded as high as GBX 2,472 ($31.66). Associated British Foods shares last traded at GBX 2,453 ($31.42), with a volume of 666,950 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABF. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research report on Thursday, April 18th. JPMorgan Chase & Co. increased their price objective on Associated British Foods from GBX 2,000 ($25.62) to GBX 2,250 ($28.82) and gave the stock a “neutral” rating in a research report on Tuesday, April 30th.

Associated British Foods Stock Up 1.5 %

The stock has a 50-day moving average of GBX 2,577.70 and a 200-day moving average of GBX 2,442.62. The company has a quick ratio of 0.93, a current ratio of 1.79 and a debt-to-equity ratio of 33.71. The company has a market cap of £18.81 billion, a PE ratio of 1,615.48, a P/E/G ratio of 1.39 and a beta of 1.23.

Associated British Foods Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, May 30th were given a dividend of GBX 20.70 ($0.27) per share. The ex-dividend date was Thursday, May 30th. This represents a yield of 0.83%. Associated British Foods’s payout ratio is 3,483.87%.

Insider Buying and Selling at Associated British Foods

In other news, insider Kumsal Bayazit purchased 2,930 shares of the stock in a transaction on Monday, May 20th. The shares were acquired at an average price of GBX 2,728 ($34.94) per share, for a total transaction of £79,930.40 ($102,382.99). In related news, insider Kumsal Bayazit acquired 2,930 shares of Associated British Foods stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of GBX 2,728 ($34.94) per share, with a total value of £79,930.40 ($102,382.99). Also, insider Dame Heather Rabbatts acquired 395 shares of Associated British Foods stock in a transaction dated Monday, June 24th. The shares were bought at an average cost of GBX 2,512 ($32.18) per share, for a total transaction of £9,922.40 ($12,709.62). Insiders have bought 5,155 shares of company stock worth $13,918,960 over the last 90 days. Corporate insiders own 58.72% of the company’s stock.

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.