Kohl’s (NYSE:KSS) Issues Earnings Results

Posted by Jim Brewer on May 26th, 2023

Kohl’s (NYSE:KSS – Get Rating) released its quarterly earnings data on Wednesday. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.57, Briefing.com reports. Kohl’s had a negative return on equity of 0.47% and a negative net margin of 0.11%. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. Kohl’s updated its FY24 guidance to $2.10-2.70 EPS.

Kohl’s Price Performance

Shares of NYSE KSS opened at $19.67 on Friday. The stock’s 50-day moving average is $21.77 and its two-hundred day moving average is $26.52. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.18. Kohl’s has a 1-year low of $18.61 and a 1-year high of $47.63. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -45.74, a price-to-earnings-growth ratio of 1.10 and a beta of 1.66.

Kohl’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 6th. This represents a $2.00 annualized dividend and a yield of 10.17%. Kohl’s’s dividend payout ratio (DPR) is -465.11%.

Wall Street Analysts Forecast Growth

KSS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Kohl’s from $25.00 to $28.00 in a research report on Thursday. UBS Group reduced their target price on Kohl’s from $18.00 to $16.00 and set a “sell” rating on the stock in a research report on Wednesday, March 29th. The Goldman Sachs Group reduced their target price on Kohl’s from $27.00 to $24.00 and set a “sell” rating on the stock in a research report on Thursday, March 2nd. StockNews.com initiated coverage on Kohl’s in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $35.00 target price on shares of Kohl’s in a research report on Wednesday, March 1st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.88.

Insiders Place Their Bets

In related news, CEO Thomas Kingsbury purchased 92,500 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were bought at an average price of $21.82 per share, for a total transaction of $2,018,350.00. Following the acquisition, the chief executive officer now directly owns 228,993 shares in the company, valued at $4,996,627.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. SkyView Investment Advisors LLC acquired a new position in shares of Kohl’s during the 1st quarter worth about $27,000. Rockefeller Capital Management L.P. boosted its position in shares of Kohl’s by 822.3% during the 1st quarter. Rockefeller Capital Management L.P. now owns 901,507 shares of the company’s stock worth $21,220,000 after acquiring an additional 803,765 shares in the last quarter. Prentice Capital Management LP acquired a new position in shares of Kohl’s during the 1st quarter worth about $571,000. Samlyn Capital LLC acquired a new position in shares of Kohl’s during the 1st quarter worth about $5,631,000. Finally, State Street Corp boosted its position in shares of Kohl’s by 1.4% during the 1st quarter. State Street Corp now owns 4,940,607 shares of the company’s stock worth $116,299,000 after acquiring an additional 67,998 shares in the last quarter. 95.50% of the stock is owned by institutional investors and hedge funds.

About Kohl’s

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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.