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ABF Associated British Foods Plc

7.00 (0.29%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Associated British Foods Plc LSE:ABF London Ordinary Share GB0006731235 ORD 5 15/22P
  Price Change % Change Share Price Shares Traded Last Trade
  7.00 0.29% 2,385.00 944,622 16:35:09
Bid Price Offer Price High Price Low Price Open Price
2,385.00 2,387.00 2,401.00 2,381.00 2,386.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Textile Goods, Nec 19.75B 1.04B 1.3282 17.96 18.75B
Last Trade Time Trade Type Trade Size Trade Price Currency
18:15:42 O 13,779 2,377.52 GBX

Associated British Foods (ABF) Latest News (3)

Associated British Foods (ABF) Discussions and Chat

Associated British Foods (ABF) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-01 18:15:432,377.5213,779327,598.48O
2023-12-01 18:15:432,377.5222,965545,997.47O
2023-12-01 17:57:502,382.002084,954.56O
2023-12-01 17:52:282,387.339214.86O
2023-12-01 17:52:102,385.003939,373.05O

Associated British Foods (ABF) Top Chat Posts

Top Posts
Posted at 02/12/2023 08:20 by Associated British Foods Daily Update
Associated British Foods Plc is listed in the Textile Goods, Nec sector of the London Stock Exchange with ticker ABF. The last closing price for Associated British Foods was 2,378p.
Associated British Foods currently has 786,000,000 shares in issue. The market capitalisation of Associated British Foods is £18,753,960,000.
Associated British Foods has a price to earnings ratio (PE ratio) of 17.96.
This morning ABF shares opened at 2,386p
Posted at 22/11/2023 16:55 by philanderer
Associated British Food price target upgrade underpinned by strong fundamentals, says investment bank

Liberum, the investment bank, has upgraded its price target for Associated British Foods PLC (LSE:ABF) from £24 to £28 per share, maintaining a 'buy' recommendation reflecting its confidence in ABF's strong trading performance and its effective capital return strategy.

Since upgrading to buy in June, Liberum said ABF has registered an 11% increase in earnings per share (EPS), with 8% coming from enhanced trading activities and 3% from strategic share buybacks.

It notes that ABF's commitment to shareholder value is further evidenced by its announcement of an additional £500 million share buyback program and a special dividend of 12.7p per share, amounting to approximately £100 million.

The bank also highlights that ABF's capital allocation framework is designed to facilitate cash returns to shareholders when leverage, including lease liabilities, is below one-times.

ABF's current leverage ratios are well within this limit. Liberum points out that the positive trading outlook for ABF is supported by various factors, including margin tailwinds, capital release in Primark, strong growth in the Sugar segment, and lower inflation across the group.

In the Sugar sector, Liberum forecasts a significantly brighter outlook for the fiscal year 2024, driven by high sugar prices, reduced energy costs, and a normal crop season, which are expected to boost profits at British Sugar and Azucarera.

Additionally, Vivergo is projected to reach a break-even point after substantial losses in the past two years, as per Liberum's analysis.

The £500 million buyback program and the special dividend, as Liberum observes, reflect management’s confidence in ABF's future free cash flow (FCF) generation. Liberum estimates that ABF has the capacity to sustain such levels of cash returns regularly.

In the Retail division, Liberum forecasts a return to approximately a 12% earnings before interest and taxes (EBIT) margin from 8% in the fiscal year 2023, aided by price increases, favourable foreign exchange impacts, and reductions in input and freight costs. Liberum also anticipates benefits from operating leverage and automation in future years.

Finally, the bank expects ABF to deliver a 5.9% free cash flow yield on its current market capitalisation in the fiscal year 2024, compared to 2.2% in the fiscal year 2023.

The company's shares are currently trading at a price-to-earnings (PE) multiple of 12.8 times and an enterprise value to earnings before interest, taxes, depreciation, and amortisation (EV/EBITDA) multiple of 7.0 times for the fiscal year 2024.

This valuation, according to Liberum, represents a circa 30% discount to the 10-year average multiples, indicating a significant upside potential for investors and justifying the increased price target and 'buy' stance.
Posted at 15/11/2023 10:44 by tlobs2
What price for selling off Primark alone, that's if a large specialist retailer or investment specialist fancied taking them over?

Posted at 07/11/2023 13:55 by philanderer
The parent firm of Primark has revealed a jump in profits and sales as shoppers continued to shop “enthusiastically” at the fashion chain despite price rises and budget pressures.

George Weston, the boss of Associated British Foods, told the PA news agency it has increased prices across a number of its autumn/winter clothing lines in recent months, but has cut the price of children’s clothes ahead of Christmas.
Posted at 09/10/2023 20:22 by mastey
In my view this is just short term noise. It was great to see the buy back sort of suspended just after results and re started when share price started falling .well done ABF and its advisors. Will benefit all shareholders going forward. The weather will turn as it always does and stock will shift without major discounts. The Primark team have more experience ( best in retail) and will not panic . Let’s hope all will see through short term and JP Morgan put option clients lose out. Or the cheap calls they have written get paid out and JP Morgan have to buy to cover
Posted at 09/10/2023 12:48 by philanderer
As Skinny pointed out...

The warm weather may not have been helpful for clothing retailers, according to JPMorgan, as they launch their Autumn/ Winter ranges.

The bank points out that the autumn/winter selling period is relatively short, therefore often bringing pressure to start discounting early if there is a weak start to the season.

“We expect all of our clothing coverage to be impacted by the warm temperatures, but given the relative share price performance, we place Next and ABF (Primark) on negative aatalyst watch ahead of their updates on November 1 and November 7 respectively,” the broker said.
Posted at 09/10/2023 10:19 by daisylove
Could mean they have just opened a short and wish to drive the price down?
That figures 'cos i bought recently. Part of the justification was my research such as the below.

Simply Wall Street:

Trading at 33.8% below our estimate of its fair value
Earnings are forecast to grow 13.19% per year

No risks detected for ABF from our risk checks.
Posted at 29/8/2023 16:39 by tlobs2
I think they are probably happy taking healthy dividends year on year in the knowledge that the share price will increase as the buy back continues to take any slack out of the market. Long may it continue. Hopefully they will do another when this one is complete. It's not like ABF are short of cash ?
Posted at 29/6/2023 09:06 by philanderer
Liberum upgrades Associated British Foods

Liberum has upgraded Associated British Foods (ABF) as it believes the Primark owner has passed through the worst of the inflationary pressures.

Analyst Anubhav Malhotra upgraded his recommendation to ‘buy’ and increased the target price from £19 to £24 on the Citywire Elite Companies plus-rated stock, which rose 1.3%, or 25p, to £19.76 on Wednesday.

‘ABF has passed through the worst of cost inflationary pressures and various factors are aligning that should drive a period of significant earnings growth,’ he said.

‘These will entail margin recovery at Primark, grocery, and sugar with continued strong performance in ingredients.’

Malhotra said the upside in the share price is being ‘driven by earnings growth’ and ‘positive earnings momentum should drive a re-rating providing greater upside than our target price may suggest for now’.

‘On a sum-of-the-parts basis, we believe Primark is underappreciated by the market with an implied price/earnings valuation discount of 30% to its peers,’ he said.
Posted at 07/6/2023 09:07 by philanderer
ABF bolsters agri arm with ‘strategically important’ buy

Associated British Foods (ABF) has made a bolt-on acquisition in the UK agriculture space, with the division often hiding ‘under a bushel’, says Shore Capital.

Analyst Clive Black reiterated his ‘buy’ recommendation on the owner of Primark, which is a Citywire Elite Companies plus-rated business.

The group bought National Milk Records for £48m which Black said ‘will bolster ABF’s presence in the UK dairy scene, where AB Agri states it works with 2,000 farms’.

‘ABF’s agriculture business has also acquired in UK agri-consultancy and the equine market in recent times, so an interesting albeit modest application of capital to what we deem to be a strategically important industry,’ Black said.

‘We would welcome an increase in such capital allocation given this view, nothing agriculture is more often than not under a bushel in the ABF arena that is dominated by Primark.’
Posted at 24/3/2022 13:22 by cashisking76
ABF share price is now too cheap to ignore and is clearly way too oversold at the moment, hence, just bought in here and joined the ABF party today, will certainly continue to add more at these depressed oversold levels, GLA.
Associated British Foods share price data is direct from the London Stock Exchange

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