Kerry Group PLC (OTCMKTS:KRYAY) Sees Large Decrease in Short Interest

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

Kerry Group Stock Up 0.6%

OTCMKTS:KRYAY traded up $0.60 during trading hours on Wednesday, reaching $109.39. 6,941 shares of the company were exchanged, compared to its average volume of 28,258. The business has a 50 day moving average of $102.08 and a 200 day moving average of $91.13. Kerry Group has a 1-year low of $74.48 and a 1-year high of $113.59. The company has a current ratio of 1.77, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On Kerry Group

A hedge fund recently raised its stake in Kerry Group stock. Madison Asset Management LLC grew its holdings in shares of Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,751 shares of the company’s stock after acquiring 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 quarter. Institutional investors own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Kerry Group

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.