KKR & Co. L.P.’s (KKR) “Buy” Rating Reiterated at Jefferies Group
KKR & Co. L.P. (NYSE:KKR)‘s stock had its “buy” rating restated by analysts at Jefferies Group in a research report issued to clients and investors on Wednesday.
Other equities analysts also recently issued research reports about the stock. Vetr upgraded shares of KKR & Co. L.P. from a “buy” rating to a “strong-buy” rating and set a $14.18 target price for the company in a research note on Monday, June 20th. Zacks Investment Research downgraded shares of KKR & Co. L.P. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 29th. Credit Suisse Group AG assumed coverage on shares of KKR & Co. L.P. in a research note on Thursday, July 7th. They issued an “outperform” rating and a $16.00 target price for the company. Barclays PLC reduced their target price on shares of KKR & Co. L.P. from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 target price (down previously from $21.00) on shares of KKR & Co. L.P. in a research note on Monday, July 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.88.
Shares of KKR & Co. L.P. (NYSE:KKR) traded down 1.69% during trading on Wednesday, reaching $14.00. 4,329,058 shares of the company traded hands. KKR & Co. L.P. has a 12-month low of $10.89 and a 12-month high of $19.20. The firm’s 50-day moving average is $14.52 and its 200-day moving average is $13.82. The stock’s market capitalization is $6.23 billion.
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KKR & Co. L.P. (NYSE:KKR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.18. The company had revenue of $576.76 million for the quarter, compared to analysts’ expectations of $271.50 million. During the same quarter last year, the business posted $0.88 EPS. The business’s quarterly revenue was up 125.4% on a year-over-year basis. On average, equities analysts predict that KKR & Co. L.P. will post $0.50 earnings per share for the current fiscal year.
In other news, Director Robert W. Scully sold 168,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $14.22, for a total value of $2,394,648.00. Following the completion of the sale, the director now directly owns 43,276 shares in the company, valued at approximately $615,384.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Several large investors have recently made changes to their positions in the company. Artemis Investment Management LLP raised its stake in shares of KKR & Co. L.P. by 138.5% in the second quarter. Artemis Investment Management LLP now owns 7,196,826 shares of the company’s stock worth $88,844,000 after buying an additional 4,179,496 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of KKR & Co. L.P. during the second quarter worth $46,915,000. Capital Research Global Investors raised its stake in shares of KKR & Co. L.P. by 44.0% in the second quarter. Capital Research Global Investors now owns 9,000,000 shares of the company’s stock worth $111,060,000 after buying an additional 2,748,911 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of KKR & Co. L.P. by 38.9% in the first quarter. Wellington Management Group LLP now owns 9,344,724 shares of the company’s stock worth $137,274,000 after buying an additional 2,618,430 shares during the last quarter. Finally, SHANDA ASSET MANAGEMENT HOLDINGS Ltd raised its stake in shares of KKR & Co. L.P. by 103.2% in the second quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd now owns 4,631,954 shares of the company’s stock worth $57,158,000 after buying an additional 2,352,517 shares during the last quarter.
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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