Associated British Foods plc (OTCMKTS:ASBFY) Short Interest Up 9,750.0% in December

Associated British Foods plc (OTCMKTS:ASBFY) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 19,700 shares, a growth of 9,750.0% from the December 15th total of 200 shares. Based on an average daily volume of 71,200 shares, the days-to-cover ratio is presently 0.3 days.

Shares of Associated British Foods stock opened at $29.53 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.20 and a current ratio of 1.86. Associated British Foods has a 1 year low of $23.80 and a 1 year high of $35.00. The business has a 50 day moving average price of $26.91 and a 200 day moving average price of $27.18.

The business also recently disclosed a dividend, which will be paid on Monday, January 31st. Investors of record on Friday, December 17th will be given a dividend of $0.4151 per share. This is an increase from Associated British Foods’s previous dividend of $0.09. This represents a dividend yield of 1.89%. The ex-dividend date is Thursday, December 16th.

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Associated British Foods in a report on Wednesday, November 10th. Zacks Investment Research downgraded shares of Associated British Foods from a “hold” rating to a “sell” rating in a research report on Wednesday, December 8th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Associated British Foods in a research report on Wednesday, November 10th. UBS Group reduced their price target on shares of Associated British Foods from 2,900.00 to 2,700.00 and set a “buy” rating for the company in a research report on Friday, December 10th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Associated British Foods in a research report on Wednesday, October 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Associated British Foods currently has a consensus rating of “Buy” and a consensus price target of $1,367.50.

About Associated British Foods

Associated British Foods Plc engages in the business of manufacturing and trading of consumer goods. It operates through the following business segments: Grocery, Sugar, Agriculture, Ingredients and Retail. The Grocery segment produces beverages, sweeteners, vegetable oils, bread, baked goods, cereals, herbs and spices, and meat products.

Further Reading: Net Income

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