Tesco PLC (OTCMKTS:TSCDY) Sees Significant Decline in Short Interest

Tesco PLC (OTCMKTS:TSCDY) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 68,900 shares, a decline of 59.8% from the October 31st total of 171,600 shares. Based on an average daily volume of 810,100 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSCDY. BNP Paribas began coverage on Tesco in a report on Friday, October 18th. They issued an “outperform” rating on the stock. Royal Bank of Canada initiated coverage on Tesco in a research note on Tuesday, November 19th. They issued a “sector perform” rating on the stock. Sanford C. Bernstein raised Tesco to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Citigroup raised shares of Tesco to a “strong-buy” rating in a report on Friday, September 13th.

Tesco Stock Up 2.7 %

Shares of TSCDY opened at $13.95 on Friday. Tesco has a 52 week low of $10.36 and a 52 week high of $14.85. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $13.84 and a 200-day moving average of $13.15.

Tesco Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, October 15th will be given a $0.1692 dividend. The ex-dividend date is Tuesday, October 15th.

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.