KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $111.00

KKR & Co. Inc. (NYSE:KKR) had its target price raised by stock analysts at TD Cowen from $108.00 to $111.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. TD Cowen’s price target indicates a potential upside of 5.30% from the stock’s previous close.

KKR has been the topic of several other research reports. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Morgan Stanley lowered their price target on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. HSBC upped their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.83.

KKR & Co. Inc. Trading Up 3.9%

KKR stock traded up $3.98 during mid-day trading on Monday, reaching $105.41. The company had a trading volume of 1,969,717 shares, compared to its average volume of 5,898,086. The firm has a 50 day moving average of $95.99 and a 200 day moving average of $99.06. The company has a market capitalization of $94.64 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 0.86 and a beta of 1.78. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.89%. During the same quarter in the previous year, the business posted $1.18 EPS. On average, equities analysts predict that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has authorized a share buyback program on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On KKR & Co. Inc.

A number of institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after buying an additional 2,437 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $218,000. Sivia Capital Partners LLC lifted its position in shares of KKR & Co. Inc. by 13.1% in the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 237 shares in the last quarter. United Bank acquired a new stake in shares of KKR & Co. Inc. in the second quarter worth approximately $769,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of KKR & Co. Inc. in the second quarter worth approximately $4,826,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. News Roundup

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Major Integer Holdings acquisition: KKR agreed to acquire medical-device outsourcing company Integer Holdings in an all-cash transaction. Reports put the deal value at approximately $4.3 billion to $5.7 billion, potentially adding a sizable healthcare investment and future management-fee and performance-income opportunities. KKR to Buy Device Maker Integer in $5.7 Billion Deal KKR to Buy Integer Holdings for $4.3 Billion
• Positive Sentiment: Renewable-energy expansion: KKR agreed to acquire a 50% stake in a 1.2-gigawatt portfolio of developed solar and wind assets from TotalEnergies. The European portfolio has an enterprise value of €1.8 billion and includes assets in Germany, Spain, France and Poland, reinforcing KKR’s infrastructure strategy and exposure to contracted renewable power. KKR to Acquire a 50% Stake in a Portfolio of Developed Renewable Assets from TotalEnergies Across Europe
• Positive Sentiment: Higher analyst targets: BMO Capital Markets raised its KKR price target from $112 to $118 and maintained an “outperform” rating. Other reports cited revised targets of $134 and $135, strengthening the perception that analysts see additional upside. Benzinga analyst note
• Neutral Sentiment: LEAP India IPO: KKR-backed logistics company LEAP India is seeking a valuation of approximately $734 million in an Indian initial public offering. A successful listing could provide valuation support or a future exit opportunity, but the effect on KKR’s near-term results is uncertain. KKR-backed logistics firm LEAP India seeks $734 million valuation in India IPO
• Negative Sentiment: Unusually high put-option activity: Investors purchased 30,803 KKR put options, about 231% above the average volume. The activity may reflect increased downside hedging or bearish speculation, creating a potential short-term overhang despite the positive deal news.

About KKR & Co. Inc.

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.