Kohl’s (NYSE:KSS – Get Free Report) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.30-$2.70 for the period, compared to the consensus EPS estimate of $2.41. The company issued revenue guidance of $16.48 billion-$16.68 billion, compared to the consensus revenue estimate of $16.73 billion. Kohl’s also updated its FY24 guidance to $2.30-2.70 EPS.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Kohl’s in a research report on Thursday, October 5th. They set a hold rating for the company. Evercore ISI initiated coverage on Kohl’s in a research report on Tuesday, November 7th. They set an inline rating and a $24.00 price target for the company. UBS Group lowered their price objective on Kohl’s from $16.00 to $15.00 in a research report on Monday, September 25th. Bank of America lowered their price objective on Kohl’s from $25.00 to $22.00 and set an underperform rating for the company in a research report on Tuesday, September 26th. Finally, Telsey Advisory Group reaffirmed a market perform rating and issued a $29.00 price objective on shares of Kohl’s in a research report on Tuesday, November 14th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $26.08.
Kohl’s Trading Down 2.7 %
Kohl’s (NYSE:KSS – Get Free Report) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.35 by $0.18. Kohl’s had a negative return on equity of 2.72% and a negative net margin of 0.59%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. Equities analysts forecast that Kohl’s will post 2.45 earnings per share for the current fiscal year.
Kohl’s Dividend Announcement
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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 8.05%. The ex-dividend date is Tuesday, December 5th. Kohl’s’s dividend payout ratio is currently -196.08%.
Institutional Trading of Kohl’s
Hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in Kohl’s in the second quarter valued at about $26,000. SkyView Investment Advisors LLC bought a new position in shares of Kohl’s during the first quarter valued at approximately $27,000. Quarry LP grew its holdings in shares of Kohl’s by 81.1% during the first quarter. Quarry LP now owns 1,326 shares of the company’s stock valued at $31,000 after purchasing an additional 594 shares during the last quarter. Fairfield Bush & CO. bought a new position in shares of Kohl’s during the second quarter valued at approximately $35,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Kohl’s during the fourth quarter valued at approximately $55,000. 98.04% of the stock is owned by institutional investors.
Kohl’s Company Profile
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.
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