Wells Fargo & Company cuts KKR & Co. Inc. (NYSE:KKR) price target to $63.00


KKR & Co. Inc. (NYSE: KKR – Get a rating) saw its target price reduced by investment analysts to Wells Fargo and company from $72.00 to $63.00 in a research note published Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s shares. Wells Fargo and companyThe stock price target indicates a potential upside of 34.99% from the current stock price.

KKR has been the subject of a number of other reports. TheStreet upgraded KKR & Co. Inc. shares from a “b” to a “c+” rating in a Tuesday, May 3 research note. Citigroup cut its price target on KKR & Co. Inc. shares from $94.00 to $81.50 and set a “buy” rating on the stock in a Tuesday, April 12 research note. Oppenheimer raised his price target on KKR & Co. Inc. shares from $76.00 to $81.00 in a Wednesday, April 13 research note. BMO Capital Markets lowered its target price on KKR & Co. Inc. from $90.00 to $80.00 in a Wednesday, May 4, report. Finally, JMP Securities lowered its target price on KKR & Co. Inc. from $85.00 to $80.00 and set a “market outperformance” rating on the stock in a report released Tuesday. One research analyst rated the stock with a sell rating, two issued a hold rating and ten assigned the company’s stock a buy rating. According to data from MarketBeat.com, the stock has an average rating of “moderate buy” and an average target price of $76.63.

(A d)

China consumes 54% of the world’s copper. Yet China only exploits 8% of its copper needs, while plundering Africa, Latin America and South America for copper. The United States is scrambling to find new sources of copper. But there is a North American sweet spot for copper overlooked by China – for now.

KKR stock opened at $46.67 on Wednesday. KKR & Co. Inc. has a 1-year low of $44.28 and a 1-year high of $83.90. The stock’s fifty-day moving average is $50.43 and its two-hundred-day moving average is $57.74. The company has a debt ratio of 0.68, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $27.66 billion, a price/earnings ratio of 10.30, a PEG ratio of 2.76 and a beta of 1.50.

KKR & Co. Inc. (NYSE: KKR – Get a rating) last released its quarterly earnings data on Tuesday, May 3. The asset manager reported earnings per share of $1.10 for the quarter, beating consensus analyst estimates of $0.89 by $0.21. KKR & Co. Inc. had a net margin of 23.19% and a return on equity of 7.82%. The company posted revenue of $943.02 million for the quarter, versus $1.71 billion expected by analysts. In the same period a year earlier, the company had earned earnings per share of $0.75. As a group, analysts predict KKR & Co. Inc. will post EPS of 3.88 for the current fiscal year.

In related news, major shareholder Kkr Group Partnership LP sold 4,250,000 shares of KKR & Co. Inc. in a transaction dated Tuesday, June 7. The stock was sold at an average price of $19.51, for a total value of $82,917,500.00. As a result of the transaction, the insider now owns 10,000,000 shares of the company, valued at approximately $195,100,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at the SEC website. Insiders of the company hold 39.34% of the shares of the company.

Major investors have recently increased or reduced their stakes in the company. WASHINGTON TRUST Co increased its stake in KKR & Co. Inc. by 264.3% during the 4th quarter. WASHINGTON TRUST Co now owns 357 shares of the asset manager valued at $27,000 after acquiring 259 additional shares last quarter. Pinebridge Investments LP acquired a new position in KKR & Co. Inc. during Q4 valued at approximately $30,000. Allworth Financial LP bought a new position in KKR & Co. Inc. during Q1 worth approximately $28,000. Herold Advisors Inc. bought a new position in KKR & Co. Inc. during Q1 worth approximately $29,000. Finally, CVA Family Office LLC bought a new position in KKR & Co. Inc. during Q4, valued at approximately $41,000.

KKR & Co. Inc. Company Profile (Get a rating)

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund-of-funds investments. She specializes in acquisitions, leveraged buyouts, management buyouts, special credit situations, growth stocks, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.

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