Short Interest in Associated British Foods plc (OTCMKTS:ASBFY) Drops By 63.9%

Associated British Foods plc (OTCMKTS:ASBFY) saw a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 5,200 shares, a decline of 63.9% from the May 15th total of 14,400 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 285,800 shares, the days-to-cover ratio is presently 0.0 days.

Associated British Foods Stock Up 1.8%

OTCMKTS ASBFY opened at $28.25 on Friday. Associated British Foods has a 52-week low of $22.69 and a 52-week high of $33.79. The firm’s 50 day moving average price is $28.04 and its 200-day moving average price is $26.17. The company has a current ratio of 1.78, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29.

Associated British Foods Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 2nd will be issued a $0.2274 dividend. This represents a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, May 30th.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lowered shares of Associated British Foods from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, May 14th.

Associated British Foods Company Profile

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.