Short Interest in Tesco PLC (OTCMKTS:TSCDY) Expands By 143.9%

Key Points

• Short interest in Tesco PLC has risen significantly by 143.9%, totaling 139,000 shares as of September 30th, up from 57,000 shares on September 15th.
• Analysts have generally upgraded Tesco's stock ratings, with Zacks Research moving it from a "hold" to a "strong-buy" rating, contributing to an average rating of "Buy".
• Tesco announced a dividend of $0.1906 to be paid on December 1st, providing a high dividend yield of 315.0% for shareholders.

Tesco PLC (OTCMKTS:TSCDY - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 139,000 shares, a growth of 143.9% from the September 15th total of 57,000 shares. Based on an average daily volume of 258,700 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 258,700 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Several research firms have commented on TSCDY. Zacks Research upgraded shares of Tesco from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. Barclays reiterated an "overweight" rating on shares of Tesco in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Tesco Trading Down 0.6%

Shares of TSCDY opened at $17.85 on Friday. Tesco has a twelve month low of $12.16 and a twelve month high of $18.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.44. The company's fifty day simple moving average is $17.76 and its 200-day simple moving average is $16.39.

Tesco Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, October 13th will be paid a $0.1906 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a dividend yield of 315.0%.

About Tesco

Tesco PLC, together with its subsidiaries, operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary. It offers grocery products through its stores, as well as online. The company is also involved in the food and drink wholesaling activities.

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