Kohl’s Corp. (KSS) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Kohl’s Corp. (NYSE:KSS) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $61.00 price target on the stock.
According to Zacks, “Kohl’s Corporation delivered better-than-expected earnings and revenues in the third quarter of fiscal 2016. Earnings of $0.80 increased 7% driven by better expense management. Net sales however declined 2.3% due to a challenging sales environment and a 1.7% decline in comparable store sales. This signals that the company’s strategic initiative ‘Greatness Agenda’ is failing to deliver results. Though the plan has helped the company to deliver positive comps in all the four quarters of fiscal 2015, the quarterly growth rates moderated gradually, thus posing a concern. Moreover, comps declined in the first three quarters of fiscal 2016. Lower spending on apparel and accessories and a general slowdown in consumer spending are hurting sales at department stores. The company continues to expect sluggish comps amid a difficult sales scenario.”
A number of other equities analysts also recently weighed in on the stock. Buckingham Research downgraded shares of Kohl’s Corp. from a buy rating to a neutral rating and set a $56.00 price target on the stock. in a report on Tuesday, November 15th. Citigroup Inc. raised shares of Kohl’s Corp. from a neutral rating to a buy rating in a report on Monday, November 14th. BMO Capital Markets reaffirmed a market perform rating and set a $51.00 price objective on shares of Kohl’s Corp. in a report on Sunday, November 13th. Jefferies Group upped their price objective on shares of Kohl’s Corp. from $50.00 to $57.00 and gave the company a buy rating in a report on Friday, November 11th. Finally, Telsey Advisory Group upped their price objective on shares of Kohl’s Corp. from $51.00 to $58.00 and gave the company an outperform rating in a report on Friday, November 11th. Seven investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $49.33.
Shares of Kohl’s Corp. (NYSE:KSS) opened at 54.14 on Tuesday. The stock has a 50 day moving average of $47.53 and a 200-day moving average of $42.05. The firm has a market capitalization of $9.58 billion, a P/E ratio of 16.48 and a beta of 1.00. Kohl’s Corp. has a 1-year low of $33.87 and a 1-year high of $57.27.
Kohl’s Corp. (NYSE:KSS) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.10. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.33 billion. Kohl’s Corp. had a net margin of 3.17% and a return on equity of 13.59%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. On average, equities analysts expect that Kohl’s Corp. will post $3.93 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 5th. This represents a $2.00 annualized dividend and a yield of 3.69%. Kohl’s Corp.’s payout ratio is 61.16%.
In other Kohl’s Corp. news, CFO Wesley S. Mcdonald sold 71,582 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $55.45, for a total value of $3,969,221.90. Following the transaction, the chief financial officer now directly owns 108,788 shares of the company’s stock, valued at $6,032,294.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wesley S. Mcdonald sold 27,376 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $52.41, for a total value of $1,434,776.16. Following the completion of the transaction, the chief financial officer now directly owns 93,908 shares in the company, valued at $4,921,718.28. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in Kohl’s Corp. by 32.3% in the second quarter. State of Alaska Department of Revenue now owns 20,580 shares of the company’s stock worth $780,000 after buying an additional 5,020 shares during the last quarter. Sentinel Trust Co. LBA boosted its position in Kohl’s Corp. by 67.4% in the second quarter. Sentinel Trust Co. LBA now owns 112,210 shares of the company’s stock worth $4,255,000 after buying an additional 45,190 shares during the last quarter. Hills Bank & Trust Co. boosted its position in Kohl’s Corp. by 263.4% in the second quarter. Hills Bank & Trust Co. now owns 25,162 shares of the company’s stock worth $954,000 after buying an additional 18,238 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Kohl’s Corp. by 248.0% in the second quarter. Nisa Investment Advisors LLC now owns 140,806 shares of the company’s stock worth $5,339,000 after buying an additional 100,350 shares during the last quarter. Finally, Gradient Investments LLC boosted its position in Kohl’s Corp. by 365,703.1% in the second quarter. Gradient Investments LLC now owns 117,057 shares of the company’s stock worth $4,439,000 after buying an additional 117,025 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.
Kohl’s Corp. Company Profile
Kohl’s Corporation (Kohl’s) is an operator of department stores. The Company also operates an e-commerce Website (www.Kohls.com). The Company operates over 1,160 department stores in approximately 50 states. The Company sells private label, exclusive and national brand apparel, footwear, accessories, beauty and home products.
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