Kerry Group (OTCMKTS:KRYAY) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Kerry Group PLC (OTCMKTS:KRYAY) saw unusually-strong trading volume on Thursday. 61,124 shares changed hands during trading, an increase of 128% from the average daily volume of 26,808 shares. The stock last traded at $112.98 and had previously closed at $112.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Kerry Group in a research note on Wednesday, July 22nd. They set an “outperform” rating for the company. Citigroup upgraded shares of Kerry Group from a “neutral” rating to a “buy” rating in a research note on Friday, September 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Kerry Group in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group upgraded shares of Kerry Group to a “strong-buy” rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

Kerry Group Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $101.16 and its two-hundred day moving average is $90.66.

Institutional Trading of Kerry Group

An institutional investor recently raised its stake in Kerry Group stock. Madison Asset Management LLC lifted its stake in Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period. Institutional investors own 0.22% of the company’s stock.

Kerry Group Company Profile

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.