Kerry Group (OTCMKTS:KRYAY) Sets New 1-Year High – Here’s Why

Kerry Group PLC (OTCMKTS:KRYAY) reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $108.54 and last traded at $108.54, with a volume of 482 shares traded. The stock had previously closed at $105.39.

Wall Street Analysts Forecast Growth

Several research firms have commented on KRYAY. Sanford C. Bernstein initiated coverage on shares of Kerry Group in a report on Wednesday, July 22nd. They set an “outperform” rating on the stock. The Goldman Sachs Group upgraded shares of Kerry Group to a “strong-buy” rating in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. Finally, Citigroup upgraded shares of Kerry Group from a “neutral” rating to a “buy” rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat, Kerry Group has a consensus rating of “Buy”.

Kerry Group Stock Up 0.5%

The business has a 50 day moving average price of $99.12 and a two-hundred day moving average price of $92.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.77.

Institutional Trading of Kerry Group

A hedge fund recently raised its position in Kerry Group stock. Madison Asset Management LLC lifted its position in shares of Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,751 shares of the company’s stock after purchasing an additional 113 shares during the quarter. Madison Asset Management LLC’s holdings in Kerry Group were worth $2,922,000 as of its most recent filing with the Securities & Exchange Commission. 0.22% of the stock is owned by institutional investors.

About Kerry Group

Kerry Group plc is an Ireland-based food ingredients and consumer products company serving food, beverage and pharmaceutical manufacturers worldwide. Its ingredients business develops taste, nutrition and functional solutions used in products such as beverages, baked goods, dairy products, meat and meat alternatives, snacks and prepared foods.

The company also produces branded consumer foods, with a focus on markets including Ireland and the United Kingdom. Its product portfolio has included chilled and convenience foods, dairy products, meal solutions and other everyday food products.