Kura Sushi USA, Inc. (NASDAQ:KRUS) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in Kura Sushi USA, Inc. (NASDAQ:KRUS) by 24.5% during the third quarter, HoldingsChannel.com reports. The fund owned 505,600 shares of the company’s stock after buying an additional 99,515 shares during the period. Fred Alger Management LLC’s holdings in Kura Sushi USA were worth $40,731,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KRUS. Vanguard Group Inc. grew its holdings in shares of Kura Sushi USA by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 327,315 shares of the company’s stock worth $37,694,000 after acquiring an additional 5,942 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Kura Sushi USA by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,278 shares of the company’s stock worth $378,000 after acquiring an additional 232 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Kura Sushi USA in the 1st quarter worth $513,000. Comerica Bank grew its holdings in shares of Kura Sushi USA by 58.6% in the 1st quarter. Comerica Bank now owns 268 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Kura Sushi USA in the 1st quarter worth $370,000. 65.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KRUS. Craig Hallum raised their target price on Kura Sushi USA from $85.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler raised their target price on Kura Sushi USA from $63.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays raised their target price on Kura Sushi USA from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Northcoast Research began coverage on Kura Sushi USA in a research report on Tuesday, September 10th. They issued a “buy” rating and a $79.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.88.

Kura Sushi USA Price Performance

KRUS opened at $105.70 on Friday. Kura Sushi USA, Inc. has a 1 year low of $48.66 and a 1 year high of $122.81. The stock has a fifty day moving average price of $90.50 and a 200 day moving average price of $79.17.

About Kura Sushi USA