Oppenheimer Cuts KKR & Co. Inc. (NYSE:KKR) Price Target to $139.00

Key Points

• Oppenheimer lowered its price target on KKR & Co. from $143 to $139, while maintaining an outperform rating. The new target still implies roughly 37.85% upside from the stock’s current price.
• Analyst sentiment remains generally positive: KKR has a Moderate Buy consensus rating and an average price target of $130.50. Several firms have recently adjusted their views, including UBS raising its target and Piper Sandler cutting theirs.
• KKR shares fell to $100.83 in Friday trading, and the company also recently approved a $500 million share repurchase program. The article also noted an insider sale by EVP Yael Cosset of 30,000 shares.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its target price dropped by stock analysts at Oppenheimer from $143.00 to $139.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the asset manager's stock. Oppenheimer's price target would indicate a potential upside of 37.85% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Zacks Research upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. UBS Group increased their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Piper Sandler cut their target price on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. Barclays raised their price target on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Finally, Royal Bank Of Canada reduced their price objective on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an "outperform" rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and a consensus price target of $130.50.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR traded down $1.92 during trading on Friday, hitting $100.83. 1,114,615 shares of the company were exchanged, compared to its average volume of 6,067,376. The firm's fifty day moving average price is $95.49 and its 200 day moving average price is $101.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $90.53 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 0.85 and a beta of 1.79. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion for the quarter. On average, sell-side analysts expect that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.

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

Insider Buying and Selling at KKR & Co. Inc.

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the firm's stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the transaction, the executive vice president directly owned 127,868 shares of the company's stock, valued at $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 23.20% of the company's stock.

Institutional Investors Weigh In On KKR & Co. Inc.

A number of large investors have recently added to or reduced their stakes in KKR. Hudson Value Partners LLC raised its position in shares of KKR & Co. Inc. by 4.6% in the 2nd quarter. Hudson Value Partners LLC now owns 9,655 shares of the asset manager's stock valued at $886,000 after purchasing an additional 425 shares in the last quarter. Tema ETFs LLC increased its stake in shares of KKR & Co. Inc. by 5.4% in the second quarter. Tema ETFs LLC now owns 13,909 shares of the asset manager's stock worth $1,277,000 after buying an additional 712 shares during the last quarter. Canvas Wealth Advisors LLC boosted its stake in KKR & Co. Inc. by 4.5% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 4,538 shares of the asset manager's stock valued at $416,000 after acquiring an additional 196 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in KKR & Co. Inc. by 22.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 331,880 shares of the asset manager's stock valued at $30,460,000 after acquiring an additional 60,571 shares during the last quarter. Finally, Fulton Bank N.A. grew its holdings in KKR & Co. Inc. by 1.1% during the 2nd quarter. Fulton Bank N.A. now owns 16,231 shares of the asset manager's stock worth $1,490,000 after acquiring an additional 179 shares in the last quarter. 76.26% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.