Associated British Foods (LON:ABF) Reaches New 52-Week Low – Time to Sell?

Shares of Associated British Foods plc (LON:ABF) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 2,069 ($25.86) and last traded at GBX 2,072 ($25.90), with a volume of 3475057 shares changing hands. The stock had previously closed at GBX 2,106 ($26.32).

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut Associated British Foods to a “sell” rating and reduced their price target for the stock from GBX 2,290 ($28.62) to GBX 2,190 ($27.37) in a research 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 company has a debt-to-equity ratio of 33.71, a quick ratio of 0.93 and a current ratio of 1.79. The stock’s 50-day simple moving average is GBX 2,250.02 and its two-hundred day simple moving average is GBX 2,378.30. The stock has a market cap of £15.14 billion, a price-to-earnings ratio of 1,327.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24.

Associated British Foods Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 12th will be given a dividend of GBX 69.30 ($0.87) per share. This represents a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Associated British Foods’s previous dividend of $20.70. Associated British Foods’s payout ratio is currently 3,483.87%.

Insider Activity at Associated British Foods

In related news, insider Loraine Woodhouse bought 4,164 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average cost of GBX 2,389 ($29.86) per share, for a total transaction of £99,477.96 ($124,331.91). Also, insider George G. Weston sold 56,653 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of GBX 2,161 ($27.01), for a total transaction of £1,224,271.33 ($1,530,147.89). 58.08% of the stock is owned by corporate insiders.

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.