Why Has Jefferies Given KKR (NYSE:KKR) a $20 Price Target
In an interesting research report announced today, Jefferies analysts have started KKR (NYSE:KKR) coverage with “Buy” rating, and a $20 target.
From a total of 14 analysts covering Kohlberg Kravis Roberts & Co. (NYSE:KKR) stock, 14 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 82% of the ratings are positive. The highest target price is $33 while the lowest target price is $18. The mean of all analyst targets is $23.79 with a 56.06% above today’s ($16.34) stock price. Kohlberg Kravis Roberts & Co. was the topic of 13 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Wells Fargo upgraded shares on November 5 to “Outperform” rating. Citigroup maintained KKR stock in a recent report from September 10 with “Buy” rating. Finally, Standpoint Research maintained the stock with “Hold” rating in a report issued on an August 9.
Approximately 612,693 shares of stock traded hands. KKR & Co. L.P. (NYSE:KKR) has declined 30.04% since May 7, 2015 and is downtrending. It has underperformed by 28.11% the S&P500.
The overall sentiment of institutions has decreased to 0.89 in Q2 2015. Its down 0.63, from 1.52 in 2015Q2. The ratio turned negative, as 46 institutions have sold all the shares of KKR & Co. L.P. that they owned while 106 funds have taken shares off the table. 33 funds have purchased shares for the first time while 102 added to their positions. These institutions now hold 257.73 million shares or 0.11% more than the 257.45 million shares they owned in 2015Q2.
The Fund Crescent Capital Group Lp currently is holding shares equating to 30.86% of its total portfolio in KKR & Co. L.P. representing a total of 2.00 million shares. Another fund,Toscafund Asset Management Llp, is holding a total of 1.85 million shares equating to 10.83% of their holdings. Additionally, Walnut Private Equity Partners Llc has a 493,350 share stake in KKR & Co. L.P. which represents 6.85% of their total portfolio. The Fund, Matthew 25 Management Corp, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 5.83% of their total portfolio. Finally Serengeti Asset Management Lp, a fund which is based in the state of New York reported a total holdings of 1.70 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of KKR & Co. L.P. have witnessed 0 insider buys, and a total of 2 insider sales equating to a net activity of approximately $1.73 million . Janetschek William J sold 50,000 shares worth approximately $1.19M. Sorkin David sold 22,767 shares worth approximately $541,016. Fisher Todd A sold 153,939 shares worth approximately $3.67 million.
KKR & CO. L.P. 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 has a market cap of $13.12 billion. 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. It has 17.58 P/E ratio. The Firm operates through three divisions: Private Markets, Public Markets, Capital Markets and Other, and Client & Partner Group.
According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on KKR & Co. L.P. (KKR).