Kerry Group (OTCMKTS:KRYAY) Reaches New 52-Week High – What’s Next?

Kerry Group PLC (OTCMKTS:KRYAY) reached a new 52-week high during trading on Thursday. The stock traded as high as $108.54 and last traded at $108.54, with a volume of 482 shares. The stock had previously closed at $105.39.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Kerry Group in a report on Thursday, July 30th. The Goldman Sachs Group raised shares of 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 set an “outperform” rating for the company. Finally, Citigroup raised Kerry Group from a “neutral” rating to a “buy” rating in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, Kerry Group has an average rating of “Buy”.

Kerry Group Stock Up 4.2%

The company has a current ratio of 1.77, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $98.52 and its two-hundred day moving average price is $91.67.

Institutional Investors Weigh In On Kerry Group

A hedge fund recently raised its position in Kerry Group stock. Madison Asset Management LLC increased its stake in shares of Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.

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.