Associated British Foods plc (OTCMKTS:ASBFY) Sees Large Decline in Short Interest

Associated British Foods plc (OTCMKTS:ASBFY) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 43,800 shares, a decrease of 44.9% from the December 15th total of 79,500 shares. Based on an average daily trading volume, of 40,500 shares, the days-to-cover ratio is currently 1.1 days.

Associated British Foods Stock Performance

Shares of ASBFY traded up $0.33 during trading hours on Thursday, reaching $24.28. 22,756 shares of the company traded hands, compared to its average volume of 19,110. The stock has a fifty day simple moving average of $27.09 and a 200 day simple moving average of $29.71. Associated British Foods has a fifty-two week low of $23.60 and a fifty-two week high of $35.26. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 0.29.

Associated British Foods Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 13th will be given a $0.9028 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Associated British Foods’s previous dividend of $0.21.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered shares of Associated British Foods from a “neutral” rating to a “sell” rating in a research note on Thursday.

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.