Kohl’s Corp. Upgraded to Buy at Bank of America Corp. (KSS)
Kohl’s Corp. (NYSE:KSS) was upgraded by equities research analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Analyst Ratings Net reports. The firm currently has a $65.00 price objective on the stock, up from their previous price objective of $60.00. Bank of America Corp.’s target price suggests a potential upside of 19.53% from the stock’s previous close.
The analysts wrote, “We are upgrading Kohl’s to Buy from Neutral as we think F2014 will be an inflection point where operating income growth turns positive, while robust shareholder returns continue. After two years of operating income declines, we think Kohl’s is finally poised to reap the benefits of its sales growth initiatives now that inventory is back at manageable levels. Meanwhile, Kohl’s FCF yield of 13% is the highest across our coverage universe. The stock is trading at a discount to peers on an EV/EBITDA basis (at 5.5x versus 6.0x); we are raising our price objective to $65, which reflects the peer average multiple.”
In other Kohl’s Corp. news, CFO Wesley Mcdonald sold 8,145 shares of Kohl’s Corp. stock on the open market in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $55.82, for a total transaction of $454,653.90. Following the sale, the chief financial officer now directly owns 125,245 shares of the company’s stock, valued at approximately $6,991,176. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on KSS. Analysts at Sterne Agee cut their price target on shares of Kohl’s Corp. from $54.00 to $51.00 in a research note to investors on Friday, November 15th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Kohl’s Corp. in a research note to investors on Friday, November 15th. They now have a $56.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Kohl’s Corp. in a research note to investors on Friday, November 15th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Kohl’s Corp. has a consensus rating of “Hold” and a consensus price target of $56.10.
Kohl’s Corp. (NYSE:KSS) traded up 0.77% during mid-day trading on Thursday, hitting $54.80. The stock had a trading volume of 1,623,491 shares. Kohl’s Corp. has a one year low of $41.35 and a one year high of $59.00. The stock’s 50-day moving average is $55.58 and its 200-day moving average is $52.88. The company has a market cap of $11.837 billion and a P/E ratio of 12.98.
Kohl’s Corp. (NYSE:KSS) last released its earnings data on Thursday, November 14th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.05. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter last year, the company posted $0.91 earnings per share. Kohl’s Corp.’s revenue was down 1.0% compared to the same quarter last year. Analysts expect that Kohl’s Corp. will post $4.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 24th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Monday, December 9th.
Kohl’s Corporation (NYSE:KSS) operate family-oriented department stores that sell apparel, footwear and accessories for women, men and children; soft home products, such as sheets and pillows, and housewares.
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