Short Interest in Associated British Foods plc (OTCMKTS:ASBFY) Decreases By 94.0%

Associated British Foods plc (OTCMKTS:ASBFYGet Rating) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totalling 400 shares, a decline of 94.0% from the June 30th total of 6,700 shares. Based on an average daily volume of 89,800 shares, the days-to-cover ratio is presently 0.0 days.

Associated British Foods Price Performance

Shares of OTCMKTS ASBFY opened at $20.34 on Thursday. Associated British Foods has a 12 month low of $18.13 and a 12 month high of $29.75. The stock has a 50-day moving average price of $20.08 and a two-hundred day moving average price of $22.38.

Associated British Foods Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, July 22nd. Shareholders of record on Friday, June 10th were paid a dividend of $0.139 per share. This represents a yield of 2.55%. The ex-dividend date of this dividend was Thursday, June 9th.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ASBFY. Deutsche Bank Aktiengesellschaft dropped their price target on Associated British Foods from GBX 1,900 ($22.89) to GBX 1,850 ($22.29) in a research note on Tuesday, July 5th. Grupo Santander downgraded Associated British Foods from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 27th. Finally, JPMorgan Chase & Co. downgraded Associated British Foods from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Associated British Foods currently has an average rating of “Hold” and an average price target of $2,275.00.

Associated British Foods Company Profile

(Get Rating)

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, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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