JPMorgan Chase & Co. Sells 43,558 Shares of Kura Sushi USA, Inc. $KRUS

Key Points

• JPMorgan cut its stake in Kura Sushi USA by 93.2% in Q3, selling 43,558 shares and leaving it with 3,169 shares worth about $188,000.
• Other institutional investors piled in: Divisadero Street bought a new stake (~$34.6M), Granahan boosted to 671,012 shares (~$39.9M), and Woodline, Two Sigma and Ameriprise also materially increased positions, leaving institutions owning 65.49% of the stock.
• Analysts are mixed—the consensus rating is an average "Hold" with a consensus price target of $77.00 (breakdown: 1 Strong Buy, 4 Buy, 5 Hold, 1 Sell).

JPMorgan Chase & Co. decreased its stake in Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) by 93.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,169 shares of the company's stock after selling 43,558 shares during the period. JPMorgan Chase & Co.'s holdings in Kura Sushi USA were worth $188,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in KRUS. Divisadero Street Capital Management LP bought a new stake in Kura Sushi USA in the third quarter worth about $34,586,000. Granahan Investment Management LLC raised its position in Kura Sushi USA by 125.4% in the third quarter. Granahan Investment Management LLC now owns 671,012 shares of the company's stock worth $39,865,000 after acquiring an additional 373,354 shares during the period. Woodline Partners LP increased its position in 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 buying an additional 213,158 shares during the last quarter. Two Sigma Investments LP increased its position in Kura Sushi USA by 102.6% in the third quarter. Two Sigma Investments LP now owns 223,767 shares of the company's stock worth $13,294,000 after buying an additional 113,311 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Kura Sushi USA by 17.5% in the second quarter. Ameriprise Financial Inc. now owns 345,958 shares of the company's stock worth $29,780,000 after buying an additional 51,574 shares during the last quarter. Institutional investors own 65.49% of the company's stock.

Analyst Ratings Changes

KRUS has been the subject of a number of recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Kura Sushi USA in a research report on Friday, April 10th. Wall Street Zen raised Kura Sushi USA from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 11th. Lake Street Capital reissued a "buy" rating on shares of Kura Sushi USA in a research report on Wednesday, April 8th. DA Davidson reiterated a "buy" rating and set a $90.00 target price on shares of Kura Sushi USA in a research report on Monday, April 6th. Finally, Zacks Research upgraded shares of Kura Sushi USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $77.00.

Kura Sushi USA Price Performance

NASDAQ:KRUS opened at $59.58 on Friday. The company has a market cap of $721.51 million, a P/E ratio of -372.38 and a beta of 1.65. The stock's fifty day moving average price is $65.03 and its two-hundred day moving average price is $60.86. Kura Sushi USA, Inc. has a 1 year low of $42.62 and a 1 year high of $95.98.

Kura Sushi USA Company 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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