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

Kohl’s (NYSE:KSS – Get Rating) announced its 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. Kohl’s had a negative net margin of 0.10% and a negative return on equity of 0.45%. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was down 4.8% on a year-over-year basis. Kohl’s updated its FY24 guidance to $2.10-2.70 EPS.

Kohl’s Price Performance

Shares of NYSE KSS opened at $20.92 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.20 and a quick ratio of 0.18. Kohl’s has a fifty-two week low of $18.61 and a fifty-two week high of $47.63. The stock has a market capitalization of $2.32 billion, a PE ratio of -46.04, a P/E/G ratio of 1.02 and a beta of 1.66. The business has a fifty day moving average price of $21.84 and a two-hundred day moving average price of $26.57.

Kohl’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders 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 dividend yield of 9.56%. Kohl’s’s dividend payout ratio is presently -444.43%.

Wall Street Analysts Forecast Growth

KSS has been the topic of a number of recent research reports. The Goldman Sachs Group lowered 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. Telsey Advisory Group reiterated a “market perform” rating and set a $35.00 price objective on shares of Kohl’s in a research note on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kohl’s from $25.00 to $28.00 in a report on Thursday. Citigroup boosted their price objective on shares of Kohl’s from $19.00 to $20.00 in a research note on Thursday. Finally, StockNews.com began coverage on Kohl’s in a report on Thursday, May 18th. They set a “hold” rating for the company. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.88.

Insider Buying and Selling

In other news, CEO Thomas Kingsbury acquired 92,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was acquired at an average price 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 directly owns 228,993 shares of the company’s stock, valued at approximately $4,996,627.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Institutional Trading of Kohl’s

A number of institutional investors and hedge funds have recently made changes to their positions in KSS. First Republic Investment Management Inc. acquired a new position in Kohl’s during the first quarter valued at approximately $220,000. Neuberger Berman Group LLC bought a new position in shares of Kohl’s in the 3rd quarter valued at $217,000. Empirical Finance LLC acquired a new position in shares of Kohl’s during the 4th quarter worth $200,000. Money Concepts Capital Corp lifted its position in shares of Kohl’s by 4.1% during the 4th quarter. Money Concepts Capital Corp now owns 7,912 shares of the company’s stock worth $200,000 after buying an additional 312 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Kohl’s in the second quarter valued at about $175,000. Institutional investors own 95.50% of the company’s stock.

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.