Granahan Investment Management LLC Trims Holdings in Kura Sushi USA, Inc. $KRUS

Granahan Investment Management LLC lowered its position in Kura Sushi USA, Inc. (NASDAQ:KRUS) by 22.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 607,917 shares of the company’s stock after selling 179,191 shares during the quarter. Kura Sushi USA accounts for 2.1% of Granahan Investment Management LLC’s holdings, making the stock its 10th largest position. Granahan Investment Management LLC owned about 0.05% of Kura Sushi USA worth $42,427,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Kura Sushi USA in the 2nd quarter valued at approximately $29,000. Key Financial Inc grew its stake in shares of Kura Sushi USA by 720.0% in the fourth quarter. Key Financial Inc now owns 615 shares of the company’s stock worth $32,000 after purchasing an additional 540 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Kura Sushi USA in the fourth quarter valued at $36,000. Caitong International Asset Management Co. Ltd raised its position in Kura Sushi USA by 681.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 844 shares of the company’s stock worth $50,000 after purchasing an additional 736 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Kura Sushi USA by 95.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,324 shares of the company’s stock worth $79,000 after buying an additional 646 shares during the period. 65.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. DA Davidson set a $65.00 price target on Kura Sushi USA in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Citigroup dropped their price target on shares of Kura Sushi USA from $64.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th. Barclays lifted their target price on shares of Kura Sushi USA from $60.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Finally, Zacks Research cut shares of Kura Sushi USA from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Kura Sushi USA presently has an average rating of “Hold” and an average price target of $69.00.

Kura Sushi USA Stock Down 2.0%

NASDAQ:KRUS opened at $44.17 on Friday. Kura Sushi USA, Inc. has a twelve month low of $42.62 and a twelve month high of $91.29. The company has a fifty day moving average of $51.01 and a 200-day moving average of $59.75. The firm has a market capitalization of $536.67 million, a P/E ratio of -245.38 and a beta of 1.33.

Kura Sushi USA (NASDAQ:KRUS) last posted its quarterly earnings results on Tuesday, July 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.08. Kura Sushi USA had a negative net margin of 0.65% and a negative return on equity of 0.18%. The business had revenue of $85.92 million during the quarter, compared to analysts’ expectations of $86.45 million. On average, analysts anticipate that Kura Sushi USA, Inc. will post -0.06 EPS for the current fiscal year.

About Kura Sushi USA

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company’s concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.