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

Key Points

• Short interest in Kerry Group rose 143.3% to 8,375 shares as of August 14, up from 3,442 shares at the end of July. Despite the increase, short interest represents 0.0% of shares outstanding, with a 0.7-day short-interest ratio.
• Kerry Group shares gained 0.8% to $98.80, near the stock’s 12-month high of $100.38. The company reported current and quick ratios of 1.68 and 1.10, respectively, and a debt-to-equity ratio of 0.42.
• Analyst sentiment remains positive, with Goldman Sachs upgrading the stock to “strong buy” and the broader analyst consensus at “Moderate Buy.” Institutional ownership remains limited at 0.22%, although Madison Asset Management modestly increased its stake.

Kerry Group PLC (OTCMKTS:KRYAY - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 8,375 shares, a growth of 143.3% from the July 30th total of 3,442 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 11,396 shares, the short-interest ratio is currently 0.7 days.

Kerry Group Stock Up 0.8%

OTCMKTS:KRYAY traded up $0.74 during trading hours on Friday, reaching $98.80. 3,151 shares of the company's stock were exchanged, compared to its average volume of 28,077. Kerry Group has a 12 month low of $74.48 and a 12 month high of $100.38. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42. The business's 50-day simple moving average is $94.82 and its two-hundred day simple moving average is $87.28.

Institutional Investors Weigh In On Kerry Group

An institutional investor recently raised its stake in Kerry Group stock. Madison Asset Management LLC increased its stake in Kerry Group PLC (OTCMKTS:KRYAY - Free Report) by 0.4% during the second 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 purchasing 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 currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KRYAY shares. The Goldman Sachs Group raised shares of Kerry Group to a "strong-buy" rating in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Kerry Group in a research report on Thursday, July 30th. Citigroup reiterated a "neutral" rating on shares of Kerry Group in a research report on Thursday, July 30th. Finally, Sanford C. Bernstein began coverage on Kerry Group in a research note on Wednesday, July 22nd. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Kerry Group presently has an average rating of "Moderate Buy".

Kerry Group Company Profile

Kerry Group OTCMKTS: KRYAY is a global leader in taste and nutrition solutions for the food, beverage and pharmaceutical industries. The company develops, manufactures and supplies a broad portfolio of ingredients, flavors and integrated solutions designed to enhance taste, improve health and simplify production processes. Kerry's offerings span across dairy-based ingredients, flavors, texturizers, enzymes, probiotics and nutritional premixes, serving both industrial customers and consumer food brands.

Through its Taste & Nutrition division, Kerry provides customized flavor systems, savory and sweet taste platforms, and nutritional ingredients for applications such as snacks, bakery, dairy, beverages and meat alternatives.

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