Kohl’s (NYSE:KSS) Issues Earnings Results

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

Kohl’s Stock Down 0.5 %

NYSE KSS traded down $0.10 during trading on Friday, hitting $19.57. 684,616 shares of the company traded hands, compared to its average volume of 4,482,618. Kohl’s has a 12 month low of $18.61 and a 12 month high of $47.63. The business has a fifty day simple moving average of $21.77 and a 200 day simple moving average of $26.52. The company has a current ratio of 1.17, a quick ratio of 0.18 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $2.17 billion, a P/E ratio of -45.74, a PEG ratio of 1.10 and a beta of 1.66.

Kohl’s Dividend Announcement

The business also recently announced 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 10.22%. Kohl’s’s dividend payout ratio (DPR) is currently -465.11%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KSS. Telsey Advisory Group reaffirmed a “market perform” rating and set a $35.00 price target on shares of Kohl’s in a research note on Wednesday, March 1st. Bank of America reduced their price objective on Kohl’s from $25.00 to $22.00 in a research note on Thursday. Credit Suisse Group reduced their price objective on Kohl’s to $27.00 in a research note on Wednesday, March 1st. UBS Group reduced their price objective on Kohl’s from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Wednesday, March 29th. Finally, StockNews.com assumed coverage on Kohl’s in a research note on Thursday, May 18th. They set a “hold” rating for the company. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Kohl’s currently has an average rating of “Hold” and a consensus target price of $27.88.

Insider Buying and Selling at Kohl’s

In other Kohl’s news, CEO Thomas Kingsbury purchased 92,500 shares of the stock in a transaction dated Wednesday, March 29th. The shares were bought at an average cost of $21.82 per share, with a total value 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Kohl’s

Institutional investors have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in Kohl’s during the second quarter worth about $26,000. SkyView Investment Advisors LLC bought a new position in Kohl’s in the 1st quarter worth approximately $27,000. Quarry LP grew its holdings in Kohl’s by 81.1% during the 1st quarter. Quarry LP now owns 1,326 shares of the company’s stock worth $31,000 after acquiring an additional 594 shares during the period. Fairfield Bush & CO. acquired a new stake in Kohl’s during the 1st quarter worth $93,000. Finally, Belpointe Asset Management LLC grew its holdings in Kohl’s by 61.8% during the 1st quarter. Belpointe Asset Management LLC now owns 2,363 shares of the company’s stock worth $56,000 after acquiring an additional 903 shares during the period. 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.