Bank of New York Mellon Corp Cuts Stake in Kura Sushi USA, Inc. (NASDAQ:KRUS)

Bank of New York Mellon Corp decreased its position in Kura Sushi USA, Inc. (NASDAQ:KRUS) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,052 shares of the company’s stock after selling 1,489 shares during the period. Bank of New York Mellon Corp owned about 0.17% of Kura Sushi USA worth $1,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Kura Sushi USA during the fourth quarter worth $2,991,000. Russell Investments Group Ltd. increased its holdings in shares of Kura Sushi USA by 42.6% in the 1st quarter. Russell Investments Group Ltd. now owns 103,290 shares of the company’s stock valued at $11,895,000 after purchasing an additional 30,836 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Kura Sushi USA by 25.1% in the fourth quarter. Wasatch Advisors LP now owns 112,911 shares of the company’s stock valued at $8,581,000 after purchasing an additional 22,621 shares during the period. Castleark Management LLC purchased a new stake in Kura Sushi USA during the first quarter worth about $3,326,000. Finally, Rheos Capital Works Inc. acquired a new position in Kura Sushi USA during the first quarter worth about $10,940,000. 65.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KRUS. Citigroup reduced their price target on shares of Kura Sushi USA from $79.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Barclays decreased their target price on Kura Sushi USA from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Benchmark restated a “buy” rating and issued a $90.00 price target on shares of Kura Sushi USA in a research report on Wednesday, July 10th. Craig Hallum decreased their price objective on shares of Kura Sushi USA from $120.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Piper Sandler lowered their price objective on shares of Kura Sushi USA from $89.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.38.

Kura Sushi USA Stock Down 2.1 %

KRUS opened at $83.97 on Friday. The firm has a market cap of $943.07 million, a P/E ratio of -1,199.57 and a beta of 1.87. The business’s fifty day simple moving average is $62.34 and its 200 day simple moving average is $84.86. Kura Sushi USA, Inc. has a 52 week low of $48.66 and a 52 week high of $122.81.

Kura Sushi USA Company Profile