Bank of America Corp DE Sells 59,561 Shares of Kura Sushi USA, Inc. $KRUS

Key Points

• Bank of America cut its Kura Sushi USA stake by 76.6% in the first quarter, selling 59,561 shares and retaining 18,199 shares worth approximately $1.27 million.
• Other institutions increased their positions, including Stephens, Granahan Investment Management, Ameriprise Financial, and Woodline Partners. Hedge funds and institutional investors collectively own 65.49% of KRUS.
• KRUS recently traded at $44.21, near its 12-month low, while analysts maintain a consensus “Hold” rating with a $69 average price target. The company exceeded quarterly EPS expectations but posted a negative net margin and is forecast to report a loss for the fiscal year.

Bank of America Corp DE lowered its stake in Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) by 76.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,199 shares of the company's stock after selling 59,561 shares during the period. Bank of America Corp DE owned 0.15% of Kura Sushi USA worth $1,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Stephens Inc. AR boosted its position in Kura Sushi USA by 31.9% in the first quarter. Stephens Inc. AR now owns 1,107,263 shares of the company's stock worth $77,276,000 after purchasing an additional 267,955 shares during the last quarter. Granahan Investment Management LLC increased its stake in Kura Sushi USA by 17.3% in the 4th quarter. Granahan Investment Management LLC now owns 787,108 shares of the company's stock worth $41,189,000 after buying an additional 116,096 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Kura Sushi USA during the fourth quarter valued at about $19,194,000. Ameriprise Financial Inc. lifted its position in shares of Kura Sushi USA by 17.5% in the second quarter. Ameriprise Financial Inc. now owns 345,958 shares of the company's stock valued at $29,780,000 after acquiring an additional 51,574 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in shares of Kura Sushi USA by 270.3% in the third quarter. Woodline Partners LP now owns 292,014 shares of the company's stock worth $17,349,000 after acquiring an additional 213,158 shares during the period. Hedge funds and other institutional investors own 65.49% of the company's stock.

Kura Sushi USA Stock Performance

NASDAQ KRUS opened at $44.21 on Friday. Kura Sushi USA, Inc. has a twelve month low of $42.62 and a twelve month high of $85.00. The stock has a market cap of $537.15 million, a PE ratio of -245.60 and a beta of 1.32. The firm has a 50-day simple moving average of $49.36 and a 200 day simple moving average of $55.08.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.08. The business had revenue of $85.92 million for the quarter, compared to the consensus estimate of $86.45 million. Kura Sushi USA had a negative net margin of 0.65% and a negative return on equity of 0.18%. Research analysts forecast that Kura Sushi USA, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

KRUS has been the subject of a number of recent analyst reports. DA Davidson set a $65.00 price target on shares of Kura Sushi USA in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kura Sushi USA in a research note on Friday, August 7th. TD Cowen reduced their price target on shares of Kura Sushi USA from $58.00 to $51.00 and set a "hold" rating on the stock in a research note on Wednesday, July 8th. Lake Street Capital lowered their price target on Kura Sushi USA from $83.00 to $72.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. Finally, Freedom Capital upgraded Kura Sushi USA to a "hold" rating in a research note on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $69.00.

Kura Sushi USA Profile

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company's concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.

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