KKR & Co. L.P. (NYSE:KKR) had its price target upped by Morgan Stanley from $20.00 to $21.00 in a research note published on Thursday morning. They currently have an equal weight rating on the asset manager’s stock.
Several other research firms have also issued reports on KKR. ValuEngine upgraded KKR & Co. L.P. from a buy rating to a strong-buy rating in a research report on Saturday, September 30th. Zacks Investment Research lowered KKR & Co. L.P. from a buy rating to a hold rating in a research report on Saturday, August 5th. Oppenheimer Holdings, Inc. raised their price target on KKR & Co. L.P. from $26.00 to $27.00 and gave the stock an outperform rating in a research report on Friday, July 14th. BidaskClub upgraded KKR & Co. L.P. from a sell rating to a hold rating in a research report on Thursday, July 13th. Finally, Jefferies Group LLC restated a buy rating on shares of KKR & Co. L.P. in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. KKR & Co. L.P. presently has an average rating of Buy and an average target price of $21.40.
KKR & Co. L.P. (NYSE KKR) traded down 0.98% during mid-day trading on Thursday, hitting $20.30. The stock had a trading volume of 1,919,205 shares. KKR & Co. L.P. has a 1-year low of $13.58 and a 1-year high of $20.64. The firm has a market cap of $9.54 billion, a P/E ratio of 8.69 and a beta of 1.53. The stock has a 50 day moving average of $19.04 and a 200-day moving average of $18.65.
KKR & Co. L.P. (NYSE:KKR) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share (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 business had revenue of $365.16 million for the quarter, compared to analyst estimates of $300.74 million. During the same period last year, the company earned $0.19 EPS. Analysts predict that KKR & Co. L.P. will post $2.61 EPS for the current fiscal year.
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In other news, Director Robert W. Scully purchased 55,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $18.21 per share, with a total value of $1,001,550.00. Following the purchase, the director now directly owns 49,495 shares of the company’s stock, valued at approximately $901,303.95. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Linscomb & Williams Inc. raised its stake in shares of KKR & Co. L.P. by 0.3% in the 2nd quarter. Linscomb & Williams Inc. now owns 16,177 shares of the asset manager’s stock valued at $301,000 after purchasing an additional 53 shares during the period. Laurel Wealth Advisors Inc. raised its stake in shares of KKR & Co. L.P. by 0.6% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,917 shares of the asset manager’s stock valued at $203,000 after purchasing an additional 67 shares during the period. Freestone Capital Holdings LLC raised its stake in shares of KKR & Co. L.P. by 0.7% in the 2nd quarter. Freestone Capital Holdings LLC now owns 13,951 shares of the asset manager’s stock valued at $259,000 after purchasing an additional 101 shares during the period. Advisory Services Network LLC raised its stake in shares of KKR & Co. L.P. by 1.8% in the 2nd quarter. Advisory Services Network LLC now owns 6,405 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 115 shares during the period. Finally, Adell Harriman & Carpenter Inc. raised its stake in shares of KKR & Co. L.P. by 1.8% in the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 38,800 shares of the asset manager’s stock valued at $722,000 after purchasing an additional 700 shares during the period. 65.19% of the stock is currently owned by hedge funds and other institutional investors.
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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