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

Associated British Foods plc (OTCMKTS:ASBFY - Get Free Report) was the recipient of a large decline in short interest during 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. Based on an average daily volume of 285,800 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company's shares are sold short.

Associated British Foods Stock Down 0.6%

Associated British Foods stock traded down $0.16 during midday trading on Friday, hitting $28.09. 10,768 shares of the company's stock were exchanged, compared to its average volume of 52,335. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $28.04 and a two-hundred day moving average of $26.17. Associated British Foods has a 12 month low of $22.69 and a 12 month high of $33.79.

Associated British Foods Cuts Dividend

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

Analysts Set New Price Targets

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

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.