Brown-Forman Corp. (NYSE:BFB) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 11,980,000 shares, a drop of 8.1% from the June 30th total of 13,030,000 shares. Approximately 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is presently 9.2 days.
Separately, Barclays upped their price target on shares of Brown-Forman from $51.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th.
Shares of NYSE:BFB traded up $0.50 during mid-day trading on Friday, hitting $57.52. The stock had a trading volume of 917,314 shares.
Brown-Forman Company Profile
Brown-Forman Corp. engages in the production and distribution of alcoholic beverages. The firm also offers champagne, liqueur, scotch, tequila, vodka, whiskey and wine. Its brands include Jack Daniel, Finlandia, Herradura, El Jimador, New Mix, Canadian Mist, Chambord, Woodford Reserve, Sonoma Cutrer and Korbel.
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