Premier Foods PLC. (OTCMKTS:PRRFY) Short Interest Down 88.9% in July

Key Points

• Short interest in Premier Foods PLC has decreased by 88.9%, from 4,500 shares to just 500 shares as of July 31st, indicating fewer investors are betting against the stock.
• The company recently increased its dividend to $0.1608 per share, up from the previous $0.09, representing a significant yield of 117.0%.
• Despite a stable stock price of $13.26, Royal Bank Of Canada has downgraded the shares from a "moderate buy" rating to a "hold" rating.

Premier Foods PLC. (OTCMKTS:PRRFY - Get Free Report) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 500 shares, adropof88.9% from the July 15th total of 4,500 shares. Approximately0.0% of the company's shares are short sold. Based on an average daily volume of 2,000 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 2,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately0.0% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada cut Premier Foods from a "moderate buy" rating to a "hold" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy".

Premier Foods Price Performance

PRRFY stock remained flat at $13.26 during midday trading on Tuesday. 13 shares of the company traded hands, compared to its average volume of 643. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The company's fifty day moving average price is $13.26 and its two-hundred day moving average price is $12.93. Premier Foods has a 1-year low of $10.45 and a 1-year high of $14.85.

Premier Foods Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were given a $0.1608 dividend. This represents a yield of 117.0%. The ex-dividend date of this dividend was Friday, June 27th. This is an increase from Premier Foods's previous dividend of $0.09.

About Premier Foods

Premier Foods plc, together with its subsidiaries, manufactures and distributes branded and own label food products in the United Kingdom, other European countries, and internationally. The company operates through Grocery, Sweet Treats, and international segments. It offers a portfolio of product categories, including flavorings and seasonings under the Bisto, OXO, Paxo, and Saxa brands; cooking sauces and accompaniments under the Sharwood's, Loyd Grossman, Spice Tailor and Homepride brands; quick meals, snacks, and soups under the Batchelors and Smash brands; ambient desserts under the Ambrosia, Bird's, and Angel Delight brands; and ambient cakes under the Mr Kipling and Cadbury brands.