KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $118.00

Key Points

• BMO Capital Markets raised KKR’s price target from $112 to $118 while maintaining an “outperform” rating, implying 13.92% upside from the prior close.
• Analyst sentiment remains positive overall, with 11 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average target price of $130.25.
• KKR reported quarterly EPS of $1.63, exceeding the $1.43 estimate, and authorized a $500 million share-repurchase program covering up to 0.5% of outstanding shares.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its target price upped by stock analysts at BMO Capital Markets from $112.00 to $118.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the asset manager's stock. BMO Capital Markets' price objective would suggest a potential upside of 13.92% from the stock's previous close.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley cut their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. Piper Sandler lowered their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. UBS Group boosted their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. HSBC boosted their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, Weiss Ratings raised shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 16th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $130.25.

KKR & Co. Inc. Stock Up 2.1%

NYSE KKR opened at $103.58 on Monday. The stock has a fifty day moving average of $95.99 and a 200-day moving average of $99.06. The stock has a market capitalization of $93.00 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 0.86 and a beta of 1.78. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08.

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

KKR & Co. Inc. declared that its board has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On KKR & Co. Inc.

Several institutional investors have recently modified their holdings of KKR. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. SouthState Bank Corp increased its stake in KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after purchasing an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in KKR & Co. Inc. in the fourth quarter worth $29,000. Finally, MV Capital Management Inc. acquired a new stake in KKR & Co. Inc. in the fourth quarter worth $31,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.

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