Federated Hermes Inc. Takes Position in 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. purchased a new position in Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,700 shares of the company's stock, valued at approximately $343,000. Federated Hermes Inc. owned about 0.06% of Kura Sushi USA at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Bank of America Corp DE increased its position in Kura Sushi USA by 4.2% during the fourth quarter. Bank of America Corp DE now owns 5,906 shares of the company's stock worth $535,000 after buying an additional 238 shares during the last quarter. Valmark Advisers Inc. grew its position in shares of Kura Sushi USA by 4.1% in the first quarter. Valmark Advisers Inc. now owns 7,913 shares of the company's stock valued at $405,000 after purchasing an additional 309 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Kura Sushi USA by 13.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,973 shares of the company's stock valued at $360,000 after purchasing an additional 466 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Kura Sushi USA in the fourth quarter valued at about $77,000. Finally, Wells Fargo & Company MN grew its position in shares of Kura Sushi USA by 47.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,868 shares of the company's stock valued at $260,000 after purchasing an additional 924 shares during the last quarter. 65.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KRUS. TD Securities reaffirmed a "hold" rating and issued a $79.00 price target on shares of Kura Sushi USA in a research report on Wednesday, July 9th. Barclays raised their price target on Kura Sushi USA from $71.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Roth Capital reissued a "buy" rating and set a $106.00 target price (up from $89.00) on shares of Kura Sushi USA in a research report on Wednesday, July 9th. Benchmark reissued a "buy" rating on shares of Kura Sushi USA in a research report on Wednesday, July 9th. Finally, Lake Street Capital lifted their target price on Kura Sushi USA from $62.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $92.30.

Kura Sushi USA Trading Up 0.2%

Shares of KRUS stock traded up $0.19 on Wednesday, hitting $79.09. The stock had a trading volume of 371,744 shares, compared to its average volume of 287,389. Kura Sushi USA, Inc. has a twelve month low of $40.03 and a twelve month high of $110.66. The firm has a market cap of $956.51 million, a P/E ratio of -98.86 and a beta of 1.80. The company has a fifty day moving average price of $82.12 and a two-hundred day moving average price of $69.21.

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

About Kura Sushi USA