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

Kerry Group PLC (OTCMKTS:KRYAY) shares saw strong trading volume on Tuesday. 74,445 shares were traded during 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 Analysts Forecast Growth

Several analysts recently weighed in on KRYAY shares. The Goldman Sachs Group upgraded Kerry Group to a “strong-buy” rating in a research report on Thursday, August 20th. Sanford C. Bernstein started coverage on shares of Kerry Group in a research note on Wednesday, July 22nd. They issued an “outperform” rating for the company. Citigroup raised Kerry Group from a “neutral” rating to a “buy” rating in a research report on Friday, September 25th. 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. According to data from MarketBeat, the stock has an average rating of “Buy”.

Kerry Group Stock Performance

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

Institutional Investors Weigh In On Kerry Group

An institutional investor recently raised its stake in Kerry Group stock. Madison Asset Management LLC boosted its stake in Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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. Institutional investors and hedge funds own 0.22% of the company’s stock.

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.