Kohl’s Co. (NYSE:KSS – Get Rating)’s stock price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $19.27, but opened at $22.32. Kohl’s shares last traded at $20.88, with a volume of 10,726,056 shares trading hands.
The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.57. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.37 billion. Kohl’s had a negative net margin of 0.11% and a negative return on equity of 0.47%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 earnings per share.
Kohl’s Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 6th. This represents a $2.00 annualized dividend and a yield of 10.17%. Kohl’s’s dividend payout ratio (DPR) is -465.11%.
Wall Street Analysts Forecast Growth
Insider Transactions at Kohl’s
In related news, CEO Thomas Kingsbury bought 92,500 shares of the stock in a transaction dated Wednesday, March 29th. The shares were purchased at an average price of $21.82 per share, with a total value of $2,018,350.00. Following the completion of the acquisition, the chief executive officer now owns 228,993 shares of the company’s stock, valued at $4,996,627.26. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.
Institutional Investors Weigh In On Kohl’s
A number of hedge funds have recently bought and sold shares of the business. SkyView Investment Advisors LLC purchased a new stake in Kohl’s during the first quarter valued at $27,000. Rockefeller Capital Management L.P. increased its position in Kohl’s by 822.3% during the first quarter. Rockefeller Capital Management L.P. now owns 901,507 shares of the company’s stock valued at $21,220,000 after acquiring an additional 803,765 shares during the last quarter. Prentice Capital Management LP bought a new position in Kohl’s during the first quarter valued at $571,000. Samlyn Capital LLC bought a new position in Kohl’s during the first quarter valued at $5,631,000. Finally, State Street Corp increased its position in Kohl’s by 1.4% during the first quarter. State Street Corp now owns 4,940,607 shares of the company’s stock valued at $116,299,000 after acquiring an additional 67,998 shares during the last quarter. Hedge funds and other institutional investors own 95.50% of the company’s stock.
Kohl’s Trading Down 5.1 %
The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.18 and a current ratio of 1.17. The stock’s 50-day simple moving average is $21.77 and its two-hundred day simple moving average is $26.52.
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.
- Get a free copy of the StockNews.com research report on Kohl’s (KSS)
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