KKR & Co. Inc. (NYSE:KKR) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its price target for KKR from $124 to $135 and maintained an “overweight” rating, implying 33.61% potential upside from the stock’s $101.04 price.
• Analyst sentiment remains positive: 11 analysts rate KKR a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $129.
• KKR beat quarterly EPS expectations, reporting $1.63 versus the $1.43 consensus, while revenue fell short of estimates. The company also authorized a $500 million stock buyback, covering up to 0.5% of outstanding shares.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its target price lifted by Barclays from $124.00 to $135.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Barclays's target price points to a potential upside of 33.61% from the company's current price.

Several other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a "moderate buy" rating in a report on Monday, July 20th. Oppenheimer reduced their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Piper Sandler lowered their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. TD Cowen dropped their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating for the company in a report on Monday, May 18th. Finally, The Goldman Sachs Group lowered their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $129.00.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $101.04 on Friday. The stock has a 50 day simple moving average of $95.84 and a 200 day simple moving average of $99.29. 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. The firm has a market capitalization of $90.72 billion, a PE ratio of 34.37, a P/E/G ratio of 0.84 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Sell-side analysts predict that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

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

Hedge Funds Weigh In On KKR & Co. Inc.

A number of institutional investors have recently bought and sold shares of KKR. Norges Bank bought a new position in KKR & Co. Inc. in the 4th quarter valued at $1,715,929,000. Viking Global Investors LP acquired a new stake in KKR & Co. Inc. in the third quarter valued at approximately $352,038,000. Temasek Holdings Private Ltd boosted its stake in KKR & Co. Inc. by 164.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock valued at $325,859,000 after acquiring an additional 2,190,248 shares in the last quarter. Farallon Capital Management LLC purchased a new position in KKR & Co. Inc. in the fourth quarter worth $257,216,000. Finally, Amundi grew its holdings in KKR & Co. Inc. by 65.3% in the first quarter. Amundi now owns 3,726,040 shares of the asset manager's stock worth $344,659,000 after purchasing an additional 1,472,265 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

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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