Kohl’s (NYSE:KSS) Posts Quarterly Earnings Results, Beats Estimates By $0.57 EPS

Kohl’s (NYSE:KSS – Get Rating) released its quarterly earnings results on Wednesday. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 0.45% and a negative net margin of 0.10%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Kohl’s updated its FY24 guidance to $2.10-2.70 EPS.

Kohl’s Stock Up 7.5 %

Shares of KSS opened at $20.72 on Thursday. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -46.04, a PEG ratio of 1.02 and a beta of 1.66. Kohl’s has a 52 week low of $18.61 and a 52 week high of $47.63. The company has a quick ratio of 0.18, a current ratio of 1.20 and a debt-to-equity ratio of 1.18. The stock’s 50-day moving average price is $21.84 and its 200-day moving average price is $26.57.

Kohl’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.65%. Kohl’s’s payout ratio is -444.43%.

Wall Street Analysts Forecast Growth

KSS has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Kohl’s from $35.00 to $30.00 in a research report on Thursday. 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. Guggenheim dropped their price target on Kohl’s from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, February 2nd. Credit Suisse Group dropped their price target on Kohl’s to $27.00 in a research note on Wednesday, March 1st. Finally, UBS Group dropped their price target on Kohl’s from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Wednesday, March 29th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.31.

Insider Buying and Selling

In other Kohl’s news, CEO Thomas Kingsbury purchased 92,500 shares of Kohl’s stock in a transaction that occurred on Wednesday, March 29th. The stock was bought at an average price of $21.82 per share, with a total value of $2,018,350.00. Following the acquisition, the chief executive officer now owns 228,993 shares of the company’s stock, valued at approximately $4,996,627.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kohl’s

A number of large investors have recently bought and sold shares of the business. Money Concepts Capital Corp raised its holdings in Kohl’s by 4.1% in the 4th quarter. Money Concepts Capital Corp now owns 7,912 shares of the company’s stock worth $200,000 after purchasing an additional 312 shares during the period. Blair William & Co. IL raised its holdings in Kohl’s by 1.8% in the 1st quarter. Blair William & Co. IL now owns 28,668 shares of the company’s stock worth $1,733,000 after purchasing an additional 502 shares during the period. Quarry LP raised 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 acquiring an additional 594 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Kohl’s by 21.3% during the first quarter. Captrust Financial Advisors now owns 4,036 shares of the company’s stock valued at $244,000 after acquiring an additional 709 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Kohl’s during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 95.50% of the company’s stock.

Kohl’s Company Profile

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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.