Kerry Group (OTCMKTS:KRYAY) Sees Strong Trading Volume – Here’s Why

Kerry Group PLC (OTCMKTS:KRYAY) shares saw unusually-strong trading volume on Tuesday. 74,445 shares changed hands during mid-day trading, an increase of 197% from the previous session’s volume of 25,097 shares. The stock last traded at $104.94 and had previously closed at $105.38.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KRYAY. Sanford C. Bernstein initiated coverage on Kerry Group in a research note on Wednesday, July 22nd. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. The Goldman Sachs Group upgraded Kerry Group to a “strong-buy” rating in a report on Thursday, August 20th. 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 issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy”.

Kerry Group Trading Down 0.4%

The stock’s 50-day moving average price is $98.12 and its 200-day moving average price is $91.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.77.

Hedge Funds Weigh In On Kerry Group

A hedge fund recently raised its stake in Kerry Group stock. Madison Asset Management LLC boosted its position in shares of Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing 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 reporting period. 0.22% of the stock is owned by hedge funds and other 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.