Kohl’s (NYSE:KSS) Shares Gap Up on Better-Than-Expected Earnings

Shares of Kohl’s Co. (NYSE:KSSGet Rating) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $19.27, but opened at $22.32. Kohl’s shares last traded at $20.88, with a volume of 10,726,056 shares traded.

The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.57. Kohl’s had a negative return on equity of 0.45% and a negative net margin of 0.10%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter last year, the business posted $0.11 earnings per share. Kohl’s’s revenue was down 4.8% compared to the same quarter last year.

Kohl’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 10.17%. The ex-dividend date is Tuesday, June 6th. Kohl’s’s dividend payout ratio (DPR) is -444.43%.

Wall Street Analysts Forecast Growth

KSS has been the topic of several analyst reports. The Goldman Sachs Group decreased their price objective on Kohl’s from $27.00 to $24.00 and set a “sell” rating on the stock in a report on Thursday, March 2nd. Telsey Advisory Group restated a “market perform” rating and set a $35.00 price objective on shares of Kohl’s in a research note on Wednesday, March 1st. Citigroup lifted their target price on Kohl’s from $19.00 to $20.00 in a research report on Thursday. UBS Group lowered their price objective on Kohl’s from $18.00 to $16.00 and set a “sell” rating for the company in a report on Wednesday, March 29th. Finally, StockNews.com initiated coverage on Kohl’s in a report on Thursday, May 18th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.88.

Insider Transactions at Kohl’s

In other Kohl’s news, CEO Thomas Kingsbury acquired 92,500 shares of Kohl’s stock in a transaction dated Wednesday, March 29th. The stock was acquired at an average cost of $21.82 per share, for a total transaction of $2,018,350.00. Following the completion of the transaction, the chief executive officer now owns 228,993 shares in the company, valued at approximately $4,996,627.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Kohl’s

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Money Concepts Capital Corp boosted its position in shares of Kohl’s by 4.1% during the fourth quarter. Money Concepts Capital Corp now owns 7,912 shares of the company’s stock worth $200,000 after buying an additional 312 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Kohl’s by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 26,789 shares of the company’s stock worth $676,000 after buying an additional 364 shares during the period. Victory Capital Management Inc. boosted its position in shares of Kohl’s by 0.6% during the third quarter. Victory Capital Management Inc. now owns 64,492 shares of the company’s stock worth $1,622,000 after buying an additional 376 shares during the period. Xponance Inc. boosted its position in shares of Kohl’s by 2.6% during the fourth quarter. Xponance Inc. now owns 15,774 shares of the company’s stock worth $398,000 after buying an additional 398 shares during the period. Finally, Annex Advisory Services LLC lifted its position in Kohl’s by 0.3% in the first quarter. Annex Advisory Services LLC now owns 182,423 shares of the company’s stock worth $4,294,000 after purchasing an additional 461 shares during the period. 95.50% of the stock is currently owned by institutional investors and hedge funds.

Kohl’s Price Performance

The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -43.71, a P/E/G ratio of 1.02 and a beta of 1.66. The company has a quick ratio of 0.18, a current ratio of 1.20 and a debt-to-equity ratio of 1.18. The business has a 50-day simple moving average of $21.77 and a two-hundred day simple moving average of $26.52.

About Kohl’s

(Get Rating)

Kohl’s Corp. engages in the operation of family-oriented department stores. Its business line includes apparel, footwear, and accessories for women, men, and children, home products, beauty products, and accessories. The stores generally carry a consistent merchandise assortment with some differences attributable to regional preferences.

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