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

Associated British Foods (LON:ABF) had its price objective raised by JPMorgan Chase & Co. from GBX 2,000 ($25.12) to GBX 2,250 ($28.26) in a research note published on Tuesday morning, MarketBeat reports. The firm currently has a neutral rating on the stock.

Separately, Shore Capital restated a buy rating on shares of Associated British Foods in a report on Thursday, April 18th.

Associated British Foods Stock Performance

Shares of ABF stock opened at GBX 2,671 ($33.55) on Tuesday. 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 firm has a market capitalization of £20.13 billion, a price-to-earnings ratio of 1,993.28, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24. Associated British Foods has a one year low of GBX 1,804.50 ($22.67) and a one year high of GBX 2,765 ($34.73). The company has a 50 day moving average price of GBX 2,419.26 and a 200 day moving average price of GBX 2,328.39.

Associated British Foods Cuts Dividend

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