Kerry Group PLC (OTCMKTS:KRYAY) Sees Significant Drop in Short Interest

Kerry Group PLC (OTCMKTS:KRYAY) saw a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 2,324 shares, a decline of 91.6% from the October 15th total of 27,757 shares. Based on an average daily volume of 108,248 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Kerry Group

A hedge fund recently raised its stake in Kerry Group stock. Madison Asset Management LLC boosted its holdings in Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,751 shares of the company’s stock after acquiring an additional 113 shares during the period. Madison Asset Management LLC’s holdings in Kerry Group were worth $2,922,000 at the end of the most recent reporting period. 0.22% of the stock is currently owned by institutional investors and hedge funds.

Kerry Group Stock Performance

OTCMKTS KRYAY opened at $111.57 on Friday. The business’s fifty day simple moving average is $102.62 and its 200-day simple moving average is $91.38. The company has a current ratio of 1.77, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Kerry Group has a 52 week low of $74.48 and a 52 week high of $113.59.

Kerry Group Company Profile

Kerry Group is an Ireland-based company that develops taste and nutrition solutions for the food, beverage and pharmaceutical industries. Its offerings include flavors, food ingredients and technologies designed to support product taste, texture, nutrition and shelf life. The company traces its roots to a dairy cooperative established in County Kerry, Ireland, in 1972. It has since expanded into a global supplier, serving customers across food and beverage markets around the world. Kerry works with manufacturers to develop ingredients and solutions for a range of applications, including dairy, meat, snacks, beverages and other prepared foods.