KKR & Co. L.P. (NYSE:KKR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Kohlberg Kravis Roberts & Co. provides a range of asset management services to its investors and provides capital markets services to its firm, its portfolio companies and its clients. The Company operates private equity funds that take either controlling or strategic minority ownership positions for long-term appreciation; invests in leveraged loans, high-yield bonds and less liquid credit products; and, on behalf of portfolio companies, arranges equity and debt financing and offers capital market advice. Kohlberg Kravis Roberts & Co. is based at New York, New York. “
Other equities analysts have also issued reports about the company. Vetr lowered KKR & Co. L.P. from a “buy” rating to a “hold” rating and set a $13.02 price target for the company. in a research note on Monday, July 18th. Barclays PLC increased their price target on KKR & Co. L.P. from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Jefferies Group raised their price objective on KKR & Co. L.P. from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 price objective (down from $21.00) on shares of KKR & Co. L.P. in a research note on Monday, July 11th. Finally, JMP Securities reissued a “market perform” rating on shares of KKR & Co. L.P. in a research note on Wednesday, October 26th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $17.91.
Shares of KKR & Co. L.P. (NYSE:KKR) traded up 2.51% during trading on Tuesday, reaching $15.94. The company had a trading volume of 1,265,539 shares. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 52.43 and a beta of 1.90. The firm has a 50-day moving average of $14.44 and a 200 day moving average of $13.96. KKR & Co. L.P. has a 52 week low of $10.89 and a 52 week high of $17.14.
KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $687.06 million for the quarter, compared to the consensus estimate of $270.76 million. During the same period in the previous year, the business posted ($0.37) earnings per share. On average, equities research analysts forecast that KKR & Co. L.P. will post $0.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, November 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $0.64 annualized dividend and a dividend yield of 4.02%.
Hedge funds have recently made changes to their positions in the company. CIBC World Markets Inc. raised its stake in shares of KKR & Co. L.P. by 8.3% in the second quarter. CIBC World Markets Inc. now owns 35,047 shares of the company’s stock valued at $432,000 after buying an additional 2,680 shares in the last quarter. Palo Capital Inc. bought a new position in KKR & Co. L.P. during the second quarter valued at $176,000. Carroll Financial Associates Inc. raised its position in KKR & Co. L.P. by 58.3% in the second quarter. Carroll Financial Associates Inc. now owns 16,293 shares of the company’s stock valued at $201,000 after buying an additional 6,003 shares during the period. Douglass Winthrop Advisors LLC bought a new position in KKR & Co. L.P. during the second quarter valued at $411,000. Finally, North Star Investment Management Corp. raised its position in KKR & Co. L.P. by 7.7% in the second quarter. North Star Investment Management Corp. now owns 219,923 shares of the company’s stock valued at $2,714,000 after buying an additional 15,635 shares during the period.
KKR & Co. L.P. Company Profile
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.