Zacks Investment Research Lowers KKR & Co. L.P. (KKR) to Hold
Zacks Investment Research lowered shares of KKR & Co. L.P. (NYSE:KKR) from a buy rating to a hold rating in a research note released on Saturday.
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 equities research analysts have also recently weighed in on KKR. Citigroup Inc. cut KKR & Co. L.P. from a buy rating to a neutral rating and reduced their price objective for the stock from $20.50 to $19.00 in a research note on Monday, April 17th. Deutsche Bank AG boosted their price objective on KKR & Co. L.P. from $18.00 to $20.00 and gave the stock a hold rating in a research note on Friday, April 28th. Jefferies Group LLC reissued a buy rating and set a $22.00 price objective (up from $21.00) on shares of KKR & Co. L.P. in a research note on Saturday, April 29th. JMP Securities reissued an outperform rating and set a $25.00 price objective on shares of KKR & Co. L.P. in a research note on Monday, May 1st. Finally, TheStreet raised KKR & Co. L.P. from a c rating to a b rating in a research note on Thursday, April 27th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. KKR & Co. L.P. currently has a consensus rating of Buy and a consensus target price of $20.91.
KKR & Co. L.P. (KKR) opened at 19.50 on Friday. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 8.35 and a beta of 1.53. KKR & Co. L.P. has a 52-week low of $13.57 and a 52-week high of $20.34. The company’s 50-day moving average price is $18.89 and its 200 day moving average price is $18.28.
KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.89 earnings per share 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 11.84% and a net margin of 42.48%. The company had revenue of $365.16 million for the quarter, compared to analysts’ expectations of $300.74 million. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities analysts expect that KKR & Co. L.P. will post $2.53 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Monday, August 7th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.49%. KKR & Co. L.P.’s payout ratio is 28.22%.
Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in shares of KKR & Co. L.P. during the first quarter worth about $115,000. Trust Co. of Vermont raised its stake in shares of KKR & Co. L.P. by 725.3% in the first quarter. Trust Co. of Vermont now owns 10,060 shares of the asset manager’s stock worth $183,000 after buying an additional 8,841 shares during the last quarter. Investment Centers of America Inc. purchased a new stake in shares of KKR & Co. L.P. during the first quarter worth about $184,000. Park Avenue Securities LLC purchased a new stake in shares of KKR & Co. L.P. during the first quarter worth about $195,000. Finally, Fairview Capital Investment Management LLC purchased a new stake in shares of KKR & Co. L.P. during the first quarter worth about $198,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.
KKR & Co. L.P. Company Profile
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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