Kerry Group (OTCMKTS:KRYAY) Hits New 1-Year High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Kerry Group Stock Performance

The stock’s 50 day moving average price is $97.31 and its two-hundred day moving average price is $90.37.

Institutional Trading of Kerry Group

A hedge fund recently raised its stake in Kerry Group stock. Madison Asset Management LLC boosted its stake in shares of Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,751 shares of the company’s stock after buying 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. 0.22% of the stock is 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.