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

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

Associated British Foods stock opened at $29.53 on Friday. The firm has a 50 day simple moving average of $26.91 and a 200-day simple moving average of $27.18. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.31. Associated British Foods has a 12-month low of $23.80 and a 12-month high of $35.00.

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

Several research firms recently weighed in on ASBFY. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Associated British Foods in a research note on Wednesday, November 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Associated British Foods in a research note on Wednesday, November 10th. UBS Group dropped their price objective on shares of Associated British Foods from 2,900.00 to 2,700.00 and set a “buy” rating on the stock in a research note on Friday, December 10th. Zacks Investment Research cut shares of Associated British Foods from a “hold” rating to a “sell” rating in a research report on Wednesday, December 8th. Finally, Morgan Stanley restated 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.

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