Kohl’s (NYSE:KSS) Issues Earnings Results

Kohl’s (NYSE:KSS) announced its earnings results on Tuesday. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.18, RTT News reports. Kohl’s had a negative return on equity of 2.72% and a negative net margin of 0.59%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the business posted $0.82 EPS. The company’s revenue was down 5.2% on a year-over-year basis. Kohl’s updated its FY24 guidance to $2.30-2.70 EPS.

Kohl’s Stock Down 2.7 %

KSS opened at $24.86 on Tuesday. Kohl’s has a one year low of $17.68 and a one year high of $35.77. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -24.37, a PEG ratio of 1.26 and a beta of 1.83. The business’s fifty day moving average is $21.53 and its two-hundred day moving average is $23.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.14 and a current ratio of 1.15.

Kohl’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 8.05%. Kohl’s’s dividend payout ratio is presently -196.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in Kohl’s in the 2nd quarter valued at about $26,000. SkyView Investment Advisors LLC acquired a new stake in shares of Kohl’s in the first quarter valued at approximately $27,000. Quarry LP increased its stake in shares of 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 purchasing an additional 594 shares in the last quarter. Fairfield Bush & CO. acquired a new position in shares of Kohl’s during the 2nd quarter worth approximately $35,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Kohl’s in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

Analysts Set New Price Targets

KSS has been the topic of a number of analyst reports. UBS Group lowered their price objective on shares of Kohl’s from $16.00 to $15.00 in a research report on Monday, September 25th. OTR Global raised shares of Kohl’s from a “mixed” rating to a “positive” rating in a report on Friday, August 4th. Telsey Advisory Group reissued a “market perform” rating and set a $29.00 price target on shares of Kohl’s in a report on Tuesday, November 14th. Bank of America lowered their price objective on Kohl’s from $25.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, September 26th. Finally, StockNews.com initiated coverage on Kohl’s in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.08.

About Kohl’s

Kohl's Corporation operates as a omnichannel retailer in the United States. It offers branded apparel, footwear, accessories, beauty, and home products through its stores and website. The company provides its products primarily under the brand names of Croft & Barrow, Jumping Beans, SO, Sonoma Goods for Life, and Sonoma Goods for Life, as well as Food Network, LC Lauren Conrad, Nine West, and Simply Vera Vera Wang.