Kerry Group PLC (OTCMKTS:KRYAY) Sees Significant Growth in Short Interest

Kerry Group PLC (OTCMKTS:KRYAY) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 13,043 shares, a growth of 55.7% from the August 15th total of 8,375 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 10,155 shares, the days-to-cover ratio is currently 1.3 days.

Kerry Group Stock Down 0.1%

Shares of OTCMKTS:KRYAY traded down $0.07 during midday trading on Thursday, hitting $97.50. The company’s stock had a trading volume of 2,034 shares, compared to its average volume of 26,477. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $96.33 and its 200 day simple moving average is $88.16. Kerry Group has a fifty-two week low of $74.48 and a fifty-two week high of $100.38.

Institutional Trading of Kerry Group

A hedge fund recently raised its position in Kerry Group stock. Madison Asset Management LLC boosted its holdings in Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,751 shares of the company’s stock after buying 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 SEC filing. 0.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on KRYAY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. The Goldman Sachs Group raised Kerry Group to a “strong-buy” rating in a research note on Thursday, August 20th. Citigroup restated a “neutral” rating on shares of Kerry Group in a report on Thursday, July 30th. Finally, Sanford C. Bernstein assumed coverage on Kerry Group in a research report on Wednesday, July 22nd. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Kerry Group has an average rating of “Moderate Buy”.

Kerry Group Company Profile

Kerry Group plc is an Ireland-based food ingredients and consumer products company serving the global food, beverage and pharmaceutical industries. Its Taste & Nutrition business develops ingredients and solutions designed to improve the flavor, texture, nutrition, shelf life and functionality of products, including savory and sweet flavor systems, beverages, dairy alternatives, nutritional products, food protection solutions and probiotics.

The company supplies ingredients and applications to food and beverage manufacturers, as well as to pharmaceutical and other consumer industries.