Short Interest in Kingfisher plc (OTCMKTS:KGFHY) Declines By 62.8%

Posted by Carolyn Dwyer on May 26th, 2023

Kingfisher plc (OTCMKTS:KGFHY – Get Rating) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 4,800 shares, a decrease of 62.8% from the April 30th total of 12,900 shares. Based on an average daily volume of 106,400 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

KGFHY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Kingfisher from a “buy” rating to a “hold” rating in a research note on Friday, February 3rd. JPMorgan Chase & Co. lifted their target price on Kingfisher from GBX 210 ($2.61) to GBX 230 ($2.86) in a research report on Monday, March 6th. Finally, Jefferies Financial Group raised Kingfisher from a “hold” rating to a “buy” rating in a report on Monday, March 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kingfisher has an average rating of “Hold” and a consensus target price of $252.50.

Kingfisher Price Performance

Shares of OTCMKTS:KGFHY traded down $0.04 during midday trading on Friday, reaching $5.67. 47,197 shares of the company’s stock were exchanged, compared to its average volume of 121,295. The company’s 50 day simple moving average is $6.29 and its two-hundred day simple moving average is $6.26. Kingfisher has a 12 month low of $4.48 and a 12 month high of $7.20.

Kingfisher Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, May 26th will be paid a dividend of $0.1897 per share. This is a boost from Kingfisher’s previous dividend of $0.07. The ex-dividend date of this dividend is Thursday, May 25th. This represents a yield of 4.42%.

About Kingfisher

(Get Rating)

Kingfisher plc engages in the provision of home improvement products and services through a network of retail stores and other channels. It operates through the following geographical segments: UK & Ireland, France, Poland, and Other. The company was founded in 1982 and is headquartered in London, the United Kingdom.