Zacks Investment Research upgraded shares of KKR & Co. L.P. (NYSE:KKR) from a hold rating to a buy rating in a report released on Thursday. The brokerage currently has $21.00 price target on the asset manager’s stock.
According to Zacks, “Kohlberg Kravis Roberts & Co. provides a range of asset management services to its investors and provides capital markets services to its firm, its portfolio companies and its clients. The Company operates private equity funds that take either controlling or strategic minority ownership positions for long-term appreciation; invests in leveraged loans, high-yield bonds and less liquid credit products; and, on behalf of portfolio companies, arranges equity and debt financing and offers capital market advice. Kohlberg Kravis Roberts & Co. is based at New York, New York. “
Several other analysts also recently issued reports on KKR. Keefe, Bruyette & Woods restated a buy rating and issued a $23.00 price target on shares of KKR & Co. L.P. in a research note on Tuesday, May 30th. Jefferies Group LLC restated a buy rating on shares of KKR & Co. L.P. in a research note on Friday, June 30th. Morgan Stanley restated an equal weight rating and issued a $19.00 price target (up from $18.00) on shares of KKR & Co. L.P. in a research note on Monday, July 10th. BidaskClub upgraded KKR & Co. L.P. from a sell rating to a hold rating in a research note on Thursday, July 13th. Finally, Oppenheimer Holdings, Inc. boosted their price target on KKR & Co. L.P. from $26.00 to $27.00 and gave the company an outperform rating in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. KKR & Co. L.P. presently has an average rating of Buy and a consensus price target of $21.30.
Shares of KKR & Co. L.P. (NYSE:KKR) opened at 18.16 on Thursday. KKR & Co. L.P. has a 52-week low of $13.57 and a 52-week high of $20.34. The stock has a 50 day moving average price of $18.83 and a 200 day moving average price of $18.46. The company has a market capitalization of $8.53 billion, a PE ratio of 7.78 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.26. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. The company had revenue of $365.16 million during the quarter, compared to the consensus estimate of $300.74 million. During the same period in the previous year, the company posted $0.19 EPS. On average, analysts predict that KKR & Co. L.P. will post $2.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.74%. KKR & Co. L.P.’s payout ratio is 28.22%.
In related news, Director Robert W. Scully bought 55,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $18.21 per share, for a total transaction of $1,001,550.00. Following the transaction, the director now owns 49,495 shares in the company, valued at approximately $901,303.95. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Large investors have recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC lifted its position in shares of KKR & Co. L.P. by 1,760.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,185 shares of the asset manager’s stock valued at $225,000 after acquiring an additional 3,960 shares during the period. Advisory Services Network LLC bought a new stake in shares of KKR & Co. L.P. during the 1st quarter valued at $115,000. Investment Centers of America Inc. bought a new stake in shares of KKR & Co. L.P. during the 1st quarter valued at $184,000. Fairview Capital Investment Management LLC bought a new stake in shares of KKR & Co. L.P. during the 1st quarter valued at $198,000. Finally, Laurel Wealth Advisors Inc. lifted its position in shares of KKR & Co. L.P. by 0.6% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,917 shares of the asset manager’s stock valued at $203,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 66.61% of the company’s stock.
About KKR & Co. L.P.
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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