Stone Ridge Asset Management LLC Takes $7.60 Million Position in Kohl's Co. (KSS)
Stone Ridge Asset Management LLC bought a new position in Kohl's Co. (NYSE:KSS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 140,076 shares of the company’s stock, valued at approximately $7,597,000. Kohl's makes up approximately 0.5% of Stone Ridge Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position.
A number of other hedge funds have also modified their holdings of the business. Guggenheim Capital LLC increased its holdings in shares of Kohl's by 11.6% during the fourth quarter. Guggenheim Capital LLC now owns 1,153,201 shares of the company’s stock valued at $62,537,000 after acquiring an additional 119,594 shares in the last quarter. Bronson Point Management LLC bought a new stake in shares of Kohl's during the fourth quarter valued at approximately $2,495,000. QS Investors LLC increased its holdings in shares of Kohl's by 46.9% during the fourth quarter. QS Investors LLC now owns 121,475 shares of the company’s stock valued at $6,588,000 after acquiring an additional 38,772 shares in the last quarter. Virtue Capital Management LLC bought a new stake in shares of Kohl's during the fourth quarter valued at approximately $722,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Kohl's during the fourth quarter valued at approximately $543,000.
Shares of Kohl's Co. (NYSE KSS) opened at $62.97 on Friday. The company has a current ratio of 2.01, a quick ratio of 0.67 and a debt-to-equity ratio of 0.81. Kohl's Co. has a 1-year low of $35.16 and a 1-year high of $69.48. The stock has a market capitalization of $10,579.28, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.79 and a beta of 1.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be given a $0.61 dividend. The ex-dividend date is Tuesday, March 13th. This represents a $2.44 annualized dividend and a yield of 3.87%. This is a boost from Kohl's’s previous quarterly dividend of $0.55. Kohl's’s payout ratio is currently 42.80%.
In other Kohl's news, Director Peter Boneparth sold 7,500 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $66.18, for a total value of $496,350.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephanie A. Streeter sold 4,173 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $53.85, for a total value of $224,716.05. Following the completion of the transaction, the director now directly owns 21,960 shares in the company, valued at approximately $1,182,546. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on KSS shares. Bank of America boosted their price objective on Kohl's from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Jefferies Group restated a “buy” rating on shares of Kohl's in a report on Monday, December 18th. Northcoast Research started coverage on Kohl's in a report on Friday, December 8th. They set a “neutral” rating for the company. ValuEngine upgraded Kohl's from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 17th. Finally, Zacks Investment Research upgraded Kohl's from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Wednesday, January 17th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $58.39.
Kohl's Company Profile
Kohl’s Corporation (Kohl’s) is an operator of department stores. The Company operates approximately 1,154 Kohl’s department stores, a Website (www.Kohls.com), approximately 12 FILA outlets, and approximately three Off-Aisle clearance centers. The Company’s stores and Website sell moderately-priced private label and national brand apparel, footwear, accessories, beauty and home products.
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