Kerry Group (OTCMKTS:KRYAY) Reaches New 1-Year High – What’s Next?

Kerry Group PLC (OTCMKTS:KRYAY) shares hit a new 52-week high during trading on Wednesday. The company traded as high as $113.26 and last traded at $113.26, with a volume of 2,846 shares. The stock had previously closed at $110.37.

Wall Street Analysts Forecast Growth

KRYAY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. Citigroup upgraded shares of Kerry Group from a “neutral” rating to a “buy” rating in a 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. Finally, Sanford C. Bernstein initiated coverage on Kerry Group in a report on Wednesday, July 22nd. They issued an “outperform” rating on the stock. One research 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.com, the stock presently has an average rating of “Buy”.

Kerry Group Stock Down 1.9%

The company’s fifty day simple moving average is $101.42 and its two-hundred day simple moving average is $90.79. The company has a current ratio of 1.77, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Kerry Group stock. Madison Asset Management LLC increased its holdings in shares of Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 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.