KKR & Co. L.P. (KKR) Receives Buy Rating from Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of KKR & Co. L.P. (NYSE:KKR) in a research report report published on Saturday, April 29th. They currently have a $22.00 target price on the asset manager’s stock, up from their prior target price of $21.00.

Other analysts also recently issued research reports about the stock. Deutsche Bank AG raised their price target on shares of KKR & Co. L.P. from $18.00 to $20.00 and gave the stock a hold rating in a research report on Friday, April 28th. Zacks Investment Research raised shares of KKR & Co. L.P. from a hold rating to a buy rating and set a $17.00 price target for the company in a research report on Wednesday, January 4th. Credit Suisse Group AG set a $19.00 price target on shares of KKR & Co. L.P. and gave the stock a buy rating in a research report on Thursday, February 16th. Vetr downgraded shares of KKR & Co. L.P. from a buy rating to a hold rating in a research report on Wednesday, February 1st. Finally, Citigroup Inc cut KKR & Co. L.P. from a buy rating to a neutral rating and reduced their price objective for the stock from $20.50 to $19.00 in a research note on Monday, April 17th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $19.64.

KKR & Co. L.P. (NYSE:KKR) traded up 2.70% during mid-day trading on Friday, hitting $18.63. 1,199,335 shares of the stock were exchanged. KKR & Co. L.P. has a 52-week low of $11.63 and a 52-week high of $19.30. The stock has a market cap of $8.60 billion, a PE ratio of 10.57 and a beta of 1.64. The stock’s 50 day moving average is $18.05 and its 200 day moving average is $17.12.

KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings data on Thursday, April 27th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.14. KKR & Co. L.P. had a net margin of 15.48% and a return on equity of 5.55%. The company had revenue of $715.90 million during the quarter, compared to the consensus estimate of $297.88 million. During the same quarter last year, the company earned ($0.65) earnings per share. KKR & Co. L.P.’s revenue for the quarter was up 339.7% on a year-over-year basis. Analysts forecast that KKR & Co. L.P. will post $2.16 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 23rd. Shareholders of record on Monday, May 8th will be given a $0.17 dividend. This is an increase from KKR & Co. L.P.’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, May 4th. KKR & Co. L.P.’s payout ratio is currently 118.52%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Stephens Inc. AR increased its position in shares of KKR & Co. L.P. by 28.9% in the third quarter. Stephens Inc. AR now owns 363,087 shares of the asset manager’s stock valued at $5,178,000 after buying an additional 81,301 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in KKR & Co. L.P. by 14.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 6,495,561 shares of the asset manager’s stock worth $99,967,000 after buying an additional 827,385 shares in the last quarter. Renaissance Technologies LLC boosted its stake in KKR & Co. L.P. by 457.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,803,950 shares of the asset manager’s stock worth $43,153,000 after buying an additional 2,301,100 shares in the last quarter. Bienville Capital Management LLC boosted its stake in KKR & Co. L.P. by 10.4% in the fourth quarter. Bienville Capital Management LLC now owns 17,000 shares of the asset manager’s stock worth $262,000 after buying an additional 1,600 shares in the last quarter. Finally, SOL Capital Management CO boosted its stake in KKR & Co. L.P. by 2.0% in the first quarter. SOL Capital Management CO now owns 157,855 shares of the asset manager’s stock worth $2,878,000 after buying an additional 3,030 shares in the last quarter. 58.47% of the stock is currently owned by institutional investors.

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.

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