Kerry Group (OTCMKTS:KRYAY) Sees Strong Trading Volume – What’s Next?

Kerry Group PLC (OTCMKTS:KRYAY) saw an uptick in trading volume on Thursday. Approximately 61,124 shares changed hands during mid-day 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 Analyst Weigh In

KRYAY has been the topic of several recent analyst reports. Citigroup raised shares of Kerry Group from a “neutral” rating to a “buy” rating in a research report on Friday, September 25th. The Goldman Sachs Group raised Kerry Group to a “strong-buy” rating in a report on Thursday, August 20th. Sanford C. Bernstein assumed coverage on Kerry Group in a research report on Wednesday, July 22nd. They set an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Kerry Group in a report on Thursday, July 30th. One investment 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, the company has an average rating of “Buy”.

Kerry Group Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $101.64 and its two-hundred day simple moving average is $90.90.

Institutional Investors Weigh In On Kerry Group

An institutional investor recently raised its position in Kerry Group stock. Madison Asset Management LLC raised its position in shares of 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 Securities and Exchange Commission. The firm owned 31,751 shares of the company’s stock after purchasing an additional 113 shares during the period. Madison Asset Management LLC’s holdings in Kerry Group were worth $2,922,000 as of its most recent filing with the Securities and Exchange Commission. 0.22% of the stock is currently owned by institutional investors and hedge funds.

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.