Kerry Group PLC (OTCMKTS:KRYAY) Short Interest Update

Key Points

• Short interest fell sharply by 49.3% to 6,615 shares as of September 15, representing 0.0% of shares outstanding and just 0.6 days to cover.
• Analysts remain broadly bullish, with Kerry Group receiving one Strong Buy and three Buy ratings; Citigroup and Goldman Sachs recently upgraded the stock.
• Shares opened at $97.76, near the $100.38 one-year high, while Madison Asset Management slightly increased its stake to 31,751 shares.

Kerry Group PLC (OTCMKTS:KRYAY - Get Free Report) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 6,615 shares, a drop of 49.3% from the August 31st total of 13,043 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 11,924 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Kerry Group stock. Madison Asset Management LLC increased its stake in shares of Kerry Group PLC (OTCMKTS:KRYAY - Free Report) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing. Hedge funds and other institutional investors own 0.22% of the company's stock.

Kerry Group Price Performance

Shares of Kerry Group stock opened at $97.76 on Tuesday. The firm's 50-day moving average is $96.69 and its two-hundred day moving average is $88.97. Kerry Group has a 1 year low of $74.48 and a 1 year 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.

Kerry Group Company Profile

Kerry Group plc is an Ireland-based food ingredients and consumer products company serving the global food, beverage and pharmaceutical industries. Its Taste & Nutrition business develops ingredients and solutions designed to improve the flavor, texture, nutrition, shelf life and functionality of products, including savory and sweet flavor systems, beverages, dairy alternatives, nutritional products, food protection solutions and probiotics.

The company supplies ingredients and applications to food and beverage manufacturers, as well as to pharmaceutical and other consumer industries.

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