Oppenheimer Issues Pessimistic Forecast for KKR & Co. Inc. (NYSE:KKR) Stock Price

Key Points

• Oppenheimer cut its price target on KKR from $187 to $140 but kept an "outperform" rating, implying roughly a 44.4% upside from the current share price.
• Multiple other firms have trimmed targets and ratings recently, leaving a MarketBeat consensus of "Moderate Buy" with an average price target of about $138.07.
• Significant insider and institutional buying — CEO Joseph Bae bought 125,000 shares and insiders acquired ~393,872 shares (~$40.1M) this quarter, while large institutions (e.g., Norges Bank) have established big positions and ~76% of the stock is institutionally owned.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its price target cut by equities researchers at Oppenheimer from $187.00 to $140.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. Oppenheimer's price objective would suggest a potential upside of 44.40% from the stock's current price.

KKR has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. HSBC upgraded KKR & Co. Inc. from a "hold" rating to a "buy" rating and set a $144.00 target price on the stock in a report on Wednesday, January 28th. Wall Street Zen upgraded KKR & Co. Inc. from a "sell" rating to a "hold" rating in a report on Sunday, January 25th. Piper Sandler decreased their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Finally, TD Cowen cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $146.00 to $131.00 in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.07.

KKR & Co. Inc. Price Performance

NYSE:KKR traded up $5.73 during trading hours on Monday, reaching $96.95. 1,630,698 shares of the company traded hands, compared to its average volume of 7,341,340. The firm's 50-day moving average is $94.70 and its 200-day moving average is $114.56. The stock has a market cap of $86.44 billion, a P/E ratio of 41.03, a P/E/G ratio of 0.75 and a beta of 1.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.07 and a quick ratio of 0.07. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87.

Insider Transactions at KKR & Co. Inc.

In other news, CEO Joseph Y. Bae bought 125,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average cost of $102.19 per share, with a total value of $12,773,750.00. Following the transaction, the chief executive officer owned 509,257 shares of the company's stock, valued at $52,040,972.83. This represents a 32.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matt Cohler bought 43,872 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average cost of $102.90 per share, for a total transaction of $4,514,428.80. Following the completion of the transaction, the director directly owned 45,477 shares in the company, valued at approximately $4,679,583.30. This trade represents a 2,733.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 393,872 shares of company stock valued at $40,090,679. Corporate insiders own 23.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KKR. Norges Bank purchased a new position in shares of KKR & Co. Inc. in the 4th quarter worth $1,715,929,000. Strive Asset Management LLC purchased a new position in shares of KKR & Co. Inc. in the 3rd quarter worth $535,907,000. Viking Global Investors LP purchased a new position in shares of KKR & Co. Inc. in the 3rd quarter worth $352,038,000. Farallon Capital Management LLC purchased a new position in shares of KKR & Co. Inc. in the 4th quarter worth $257,216,000. Finally, Close Asset Management Ltd raised its position in KKR & Co. Inc. by 4,155.1% in the third quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager's stock valued at $196,845,000 after purchasing an additional 1,479,688 shares during the period. 76.26% of the stock is owned by hedge funds and other 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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