Assd Brit FOODS/ADR (ASBFY) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Assd Brit FOODS/ADR (OTCMKTS:ASBFY) from a hold rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “

A number of other research firms have also recently commented on ASBFY. Berenberg Bank upgraded Assd Brit FOODS/ADR from a hold rating to a buy rating in a report on Thursday, October 4th. Societe Generale assumed coverage on shares of Assd Brit FOODS/ADR in a research report on Tuesday, December 11th. They set a hold rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Assd Brit FOODS/ADR currently has a consensus rating of Hold and an average price target of $34.00.

OTCMKTS ASBFY opened at $28.79 on Tuesday. The company has a market cap of $22.93 billion, a P/E ratio of 16.36, a PEG ratio of 2.61 and a beta of 0.81. Assd Brit FOODS/ADR has a twelve month low of $25.50 and a twelve month high of $41.03.

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, January 28th. Stockholders of record on Friday, December 14th will be issued a $0.394 dividend. The ex-dividend date is Thursday, December 13th. This is a boost from Assd Brit FOODS/ADR’s previous Semi-Annual dividend of $0.14. Assd Brit FOODS/ADR’s dividend payout ratio is 44.89%.

Assd Brit FOODS/ADR Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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