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

Kerry Group PLC (OTCMKTS:KRYAY) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 27,757 shares, an increase of 337.9% from the September 30th total of 6,338 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 25,277 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KRYAY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Kerry Group in a report on Thursday, July 30th. The Goldman Sachs Group upgraded Kerry Group to a “strong-buy” rating in a research report on Thursday, August 20th. Sanford C. Bernstein began coverage on Kerry Group in a research note on Wednesday, July 22nd. They set an “outperform” rating for the company. Finally, Citigroup upgraded shares of 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 given a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy”.

Kerry Group Trading Down 0.2%

OTCMKTS:KRYAY opened at $107.60 on Friday. Kerry Group has a twelve month low of $74.48 and a twelve month high of $112.87. 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 business has a 50 day moving average price of $100.18 and a two-hundred day moving average price of $90.17.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Kerry Group stock. Madison Asset Management LLC raised its holdings in Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. Institutional investors and hedge funds 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.