Kura Sushi USA, Inc. (NASDAQ:KRUS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) by 84.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,568 shares of the company's stock after selling 19,811 shares during the period. JPMorgan Chase & Co.'s holdings in Kura Sushi USA were worth $287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KRUS. Barclays PLC raised its holdings in Kura Sushi USA by 438.6% in the 3rd quarter. Barclays PLC now owns 11,333 shares of the company's stock valued at $914,000 after acquiring an additional 9,229 shares during the last quarter. State Street Corp increased its holdings in Kura Sushi USA by 0.8% during the 3rd quarter. State Street Corp now owns 128,068 shares of the company's stock worth $10,317,000 after purchasing an additional 1,016 shares during the last quarter. Portolan Capital Management LLC grew its holdings in Kura Sushi USA by 15.3% during the 3rd quarter. Portolan Capital Management LLC now owns 216,530 shares of the company's stock worth $17,444,000 after acquiring an additional 28,655 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Kura Sushi USA in the 3rd quarter valued at about $237,000. Finally, Fred Alger Management LLC lifted its stake in Kura Sushi USA by 24.5% in the third quarter. Fred Alger Management LLC now owns 505,600 shares of the company's stock valued at $40,731,000 after buying an additional 99,515 shares during the last quarter. 65.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KRUS shares. Piper Sandler lifted their price target on Kura Sushi USA from $63.00 to $98.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. William Blair reaffirmed an "outperform" rating on shares of Kura Sushi USA in a research report on Wednesday, January 8th. Craig Hallum lifted their target price on shares of Kura Sushi USA from $85.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Barclays boosted their price objective on Kura Sushi USA from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. Finally, Lake Street Capital raised their target price on shares of Kura Sushi USA from $78.00 to $103.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.75.

Insiders Place Their Bets

In related news, Director Seitaro Ishii sold 6,918 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $83.03, for a total transaction of $574,401.54. Following the transaction, the director now owns 1,313 shares in the company, valued at $109,018.39. This represents a 84.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Kura Sushi USA Stock Down 2.5 %

NASDAQ:KRUS traded down $1.98 during trading hours on Monday, hitting $78.02. 197,196 shares of the company's stock traded hands, compared to its average volume of 180,715. Kura Sushi USA, Inc. has a 52 week low of $48.66 and a 52 week high of $122.81. The business's fifty day simple moving average is $92.16 and its two-hundred day simple moving average is $81.54. The firm has a market cap of $941.39 million, a P/E ratio of -114.73 and a beta of 1.84.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last released its earnings results on Tuesday, January 7th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.16. Kura Sushi USA had a negative return on equity of 0.50% and a negative net margin of 3.08%. On average, analysts expect that Kura Sushi USA, Inc. will post 0.22 EPS for the current year.

About Kura Sushi USA