Kerry Group (OTCMKTS:KRYAY) Reaches New 52-Week High – Here’s Why

Kerry Group PLC (OTCMKTS:KRYAY)’s share price reached a new 52-week high on Wednesday. The company traded as high as $113.26 and last traded at $113.26, with a volume of 2,846 shares. The stock had previously closed at $110.37.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Kerry Group to a “strong-buy” rating in a research note on Thursday, August 20th. Sanford C. Bernstein initiated coverage on Kerry Group in a research note on Wednesday, July 22nd. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. Finally, Citigroup raised Kerry Group from a “neutral” rating to a “buy” rating in a report 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Kerry Group Trading Up 2.3%

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 simple moving average is $100.89 and its two-hundred day simple moving average is $90.53.

Hedge Funds Weigh In On Kerry Group

A hedge fund recently raised its position in Kerry Group stock. Madison Asset Management LLC raised its holdings in shares of Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 0.22% of the company’s stock.

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.