Kerry Group (OTCMKTS:KRYAY) Sets New 12-Month High – Still a Buy?

Kerry Group PLC (OTCMKTS:KRYAY) shares hit a new 52-week high on Tuesday. The stock traded as high as $101.83 and last traded at $101.83, with a volume of 147 shares trading hands. The stock had previously closed at $99.83.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Kerry Group in a research note on Thursday, July 30th. Citigroup upgraded shares of Kerry Group from a “neutral” rating to a “buy” rating in a research note on Friday, September 25th. Sanford C. Bernstein started coverage on shares of Kerry Group in a research note on Wednesday, July 22nd. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group upgraded shares of Kerry Group to a “strong-buy” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, Kerry Group has a consensus rating of “Buy”.

Kerry Group Trading Down 0.2%

The company has a fifty day simple moving average of $97.56 and a two-hundred day simple moving average of $90.72.

Institutional Inflows and Outflows

An institutional investor 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 second quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC. 0.22% of the stock is currently owned by institutional investors and hedge funds.

About Kerry Group

Kerry Group plc is an Ireland-based food and beverage company that develops taste, nutrition and functional ingredient solutions for manufacturers across the food, beverage and pharmaceutical industries. Its portfolio includes flavors, seasonings, food protection systems, plant-based ingredients, nutritional solutions, enzymes and other technologies designed to improve the taste, texture, nutrition, shelf life and production efficiency of consumer products.

The company serves customers in categories including beverages, dairy, meat and meat alternatives, bakery, snacks, prepared foods and nutrition.