Federated Hermes Inc. Purchases Shares of 6,700 Kura Sushi USA, Inc. (NASDAQ:KRUS)

Key Points

• Federated Hermes Inc. acquired 6,700 shares of Kura Sushi USA, valued at approximately $343,000, representing 0.06% ownership of the company.
• Multiple brokerages are optimistic about Kura Sushi USA, with Citigroup and Lake Street Capital increasing their price targets to $96.00 and $98.00, respectively, following recent updates.
• Kura Sushi USA's stock has seen a 6.6% decline recently, with shares trading at $77.61, despite a positive earnings report that surpassed analysts' expectations.

Federated Hermes Inc. acquired a new stake in shares of Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,700 shares of the company's stock, valued at approximately $343,000. Federated Hermes Inc. owned about 0.06% of Kura Sushi USA as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KRUS. Vanguard Group Inc. lifted its stake in Kura Sushi USA by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 357,842 shares of the company's stock worth $32,413,000 after purchasing an additional 19,025 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Kura Sushi USA by 840.2% during the 4th quarter. JPMorgan Chase & Co. now owns 33,548 shares of the company's stock worth $3,039,000 after acquiring an additional 29,980 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kura Sushi USA by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 142,521 shares of the company's stock valued at $12,913,000 after acquiring an additional 4,192 shares during the period. Wells Fargo & Company MN grew its position in Kura Sushi USA by 47.5% in the 4th quarter. Wells Fargo & Company MN now owns 2,868 shares of the company's stock valued at $260,000 after acquiring an additional 924 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Kura Sushi USA by 52.2% in the fourth quarter. Russell Investments Group Ltd. now owns 94,960 shares of the company's stock worth $8,601,000 after purchasing an additional 32,581 shares during the period. Hedge funds and other institutional investors own 65.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Lake Street Capital boosted their target price on shares of Kura Sushi USA from $62.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded Kura Sushi USA from a "strong sell" rating to a "hold" rating in a report on Saturday, July 12th. TD Securities reiterated a "hold" rating and set a $79.00 target price on shares of Kura Sushi USA in a report on Wednesday, July 9th. Barclays boosted their price target on shares of Kura Sushi USA from $71.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, Citigroup increased their price objective on shares of Kura Sushi USA from $85.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Kura Sushi USA currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

Kura Sushi USA Price Performance

NASDAQ:KRUS traded up $0.12 during trading hours on Thursday, hitting $79.21. 68,877 shares of the company were exchanged, compared to its average volume of 285,961. Kura Sushi USA, Inc. has a 52-week low of $40.03 and a 52-week high of $110.66. The stock has a market capitalization of $957.65 million, a price-to-earnings ratio of -98.31 and a beta of 1.80. The company's 50 day moving average price is $82.16 and its 200-day moving average price is $69.28.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 8th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.07. Kura Sushi USA had a negative net margin of 3.48% and a negative return on equity of 0.49%. The firm had revenue of $73,965 billion for the quarter, compared to analyst estimates of $71.82 million. On average, equities analysts predict that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current year.

About Kura Sushi USA