Kohl’s (NYSE:KSS) Shares Gap Up Following Strong Earnings

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

KSS has been the subject of several recent research reports. The Goldman Sachs Group cut their target price on shares of Kohl’s from $27.00 to $24.00 and set a “sell” rating for the company in a research report on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kohl’s from $25.00 to $28.00 in a report on Thursday. Citigroup lifted their price target on shares of Kohl’s from $19.00 to $20.00 in a report on Thursday. Guggenheim lowered their price target on shares of Kohl’s from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, February 2nd. Finally, Credit Suisse Group lowered their price target on shares of Kohl’s to $27.00 in a report on Wednesday, March 1st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Kohl’s has a consensus rating of “Hold” and a consensus target price of $27.88.

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.

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.