Kerry Group (OTCMKTS:KRYAY) Sees Large Volume Increase – Still a Buy?

Kerry Group PLC (OTCMKTS:KRYAY) saw unusually-strong trading volume on Thursday. 61,124 shares changed hands during trading, an increase of 128% from the average daily volume of 26,808 shares. The stock last traded at $112.98 and had previously closed at $112.96.

Analyst Ratings Changes

A number of brokerages have weighed in on KRYAY. 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. Citigroup raised shares of Kerry Group from a “neutral” rating to a “buy” rating in a report on Friday, September 25th. The Goldman Sachs Group upgraded Kerry Group to a “strong-buy” rating in a research report on Thursday, August 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Kerry Group Stock Down 0.8%

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 company has a 50 day simple moving average of $101.16 and a two-hundred day simple moving average of $90.66.

Institutional Investors Weigh In On 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 second quarter, according to 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 quarter. Madison Asset Management LLC’s holdings in Kerry Group were worth $2,922,000 at the end of the most recent reporting period. 0.22% of the stock is currently owned by hedge funds and other institutional investors.

About Kerry Group

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.