Hodges Capital Management Inc. Increases Position in KKR & Co. L.P. (KKR)
Hodges Capital Management Inc. boosted its stake in shares of KKR & Co. L.P. (NYSE:KKR) by 21.3% during the second quarter, Holdings Channel reports. The institutional investor owned 54,554 shares of the asset manager’s stock after buying an additional 9,577 shares during the period. Hodges Capital Management Inc.’s holdings in KKR & Co. L.P. were worth $1,015,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of KKR. Morgan Stanley raised its position in shares of KKR & Co. L.P. by 246.8% in the first quarter. Morgan Stanley now owns 55,751,843 shares of the asset manager’s stock valued at $1,016,356,000 after buying an additional 39,675,214 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of KKR & Co. L.P. during the first quarter valued at about $49,409,000. LGT Capital Partners LTD. purchased a new position in shares of KKR & Co. L.P. during the first quarter valued at about $17,136,000. Bank of Montreal Can raised its position in shares of KKR & Co. L.P. by 13.8% in the first quarter. Bank of Montreal Can now owns 7,706,695 shares of the asset manager’s stock valued at $140,492,000 after buying an additional 933,031 shares in the last quarter. Finally, ING Groep NV purchased a new position in shares of KKR & Co. L.P. during the first quarter valued at about $9,115,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.
Shares of KKR & Co. L.P. (NYSE:KKR) opened at 19.12 on Thursday. The stock has a 50 day moving average price of $19.02 and a 200 day moving average price of $18.37. KKR & Co. L.P. has a 1-year low of $13.58 and a 1-year high of $20.34. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 8.19 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.26. The business had revenue of $365.16 million for the quarter, compared to analysts’ expectations of $300.74 million. KKR & Co. L.P. had a net margin of 42.48% and a return on equity of 11.45%. During the same period last year, the firm posted $0.19 earnings per share. Analysts forecast that KKR & Co. L.P. will post $2.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Monday, August 7th will be paid a $0.17 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 3.56%. KKR & Co. L.P.’s dividend payout ratio (DPR) is 28.22%.
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Several equities analysts recently issued reports on KKR shares. Citigroup Inc. lowered KKR & Co. L.P. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.50 to $19.00 in a research note on Monday, April 17th. Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price target on shares of KKR & Co. L.P. in a research note on Tuesday, May 30th. TheStreet upgraded KKR & Co. L.P. from a “c” rating to a “b” rating in a research note on Thursday, April 27th. Morgan Stanley restated an “equal weight” rating and set a $19.00 price target (up from $18.00) on shares of KKR & Co. L.P. in a research note on Monday, July 10th. Finally, JMP Securities reiterated an “outperform” rating and issued a $25.00 price objective on shares of KKR & Co. L.P. in a research note on Monday, May 1st. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. KKR & Co. L.P. currently has a consensus rating of “Buy” and an average target price of $21.40.
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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