Fred Alger Management LLC Sells 31,233 Shares of Kura Sushi USA, Inc. $KRUS

Fred Alger Management LLC lowered its position in Kura Sushi USA, Inc. (NASDAQ:KRUS) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,948 shares of the company’s stock after selling 31,233 shares during the period. Fred Alger Management LLC owned about 2.91% of Kura Sushi USA worth $18,020,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in KRUS. Price T Rowe Associates Inc. MD increased its position in shares of Kura Sushi USA by 13.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,973 shares of the company’s stock valued at $360,000 after buying an additional 466 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Kura Sushi USA during the 4th quarter worth approximately $204,000. Jane Street Group LLC raised its holdings in Kura Sushi USA by 17.1% during the 4th quarter. Jane Street Group LLC now owns 8,096 shares of the company’s stock worth $733,000 after buying an additional 1,181 shares during the period. Ameriprise Financial Inc. raised its holdings in Kura Sushi USA by 22.2% during the 4th quarter. Ameriprise Financial Inc. now owns 255,627 shares of the company’s stock worth $23,153,000 after buying an additional 46,493 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in Kura Sushi USA during the 4th quarter worth approximately $77,000. Institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Price Performance

Shares of NASDAQ KRUS opened at $80.19 on Tuesday. The stock has a market capitalization of $969.50 million, a price-to-earnings ratio of -100.24 and a beta of 1.79. The business has a 50-day moving average of $82.50 and a 200-day moving average of $69.71. Kura Sushi USA, Inc. has a fifty-two week low of $40.03 and a fifty-two week high of $110.66.

Kura Sushi USA (NASDAQ:KRUS) last announced its quarterly earnings data on Tuesday, July 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $73.97 million during the quarter, compared to analysts’ expectations of $71.82 million. Kura Sushi USA had a negative return on equity of 0.49% and a negative net margin of 3.48%. Kura Sushi USA has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Kura Sushi USA, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Roth Capital restated a “buy” rating and set a $106.00 target price (up from $89.00) on shares of Kura Sushi USA in a report on Wednesday, July 9th. TD Securities reiterated a “hold” rating and set a $79.00 target price on shares of Kura Sushi USA in a report on Wednesday, July 9th. Benchmark reiterated a “buy” rating on shares of Kura Sushi USA in a report on Wednesday, July 9th. Barclays boosted their target price on Kura Sushi USA from $71.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Finally, Citigroup boosted their target price on Kura Sushi USA from $85.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.30.

About Kura Sushi USA