Kerry Group PLC (OTCMKTS:KRYAY) Sees Large Drop in Short Interest

Kerry Group PLC (OTCMKTS:KRYAY) was the recipient of a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 2,324 shares, a drop of 91.6% from the October 15th total of 27,757 shares. Based on an average daily volume of 108,248 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

Kerry Group Stock Up 1.3%

KRYAY traded up $1.39 during midday trading on Thursday, hitting $111.99. 8,825 shares of the company were exchanged, compared to its average volume of 28,228. The company’s 50 day simple moving average is $102.35 and its 200 day simple moving average is $91.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.14. Kerry Group has a 1-year low of $74.48 and a 1-year high of $113.59.

Institutional Trading of Kerry Group

A hedge fund recently raised its position in Kerry Group stock. Madison Asset Management LLC grew its position in shares of Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,751 shares of the company’s stock after purchasing an additional 113 shares during the quarter. 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 currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on KRYAY. Sanford C. Bernstein assumed coverage on Kerry Group in a research report on Wednesday, July 22nd. They issued an “outperform” rating on the stock. The Goldman Sachs Group raised shares of Kerry Group to a “strong-buy” rating in a research report on Thursday, August 20th. Deutsche Bank reissued a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. Finally, Citigroup upgraded shares of Kerry Group from a “neutral” rating to a “buy” rating in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

About Kerry Group

Kerry Group is an Ireland-based company that develops taste and nutrition solutions for the food, beverage and pharmaceutical industries. Its offerings include flavors, food ingredients and technologies designed to support product taste, texture, nutrition and shelf life. The company traces its roots to a dairy cooperative established in County Kerry, Ireland, in 1972. It has since expanded into a global supplier, serving customers across food and beverage markets around the world. Kerry works with manufacturers to develop ingredients and solutions for a range of applications, including dairy, meat, snacks, beverages and other prepared foods.