Kohl’s (NYSE:KSS) Updates FY 2023 Earnings Guidance

Kohl’s (NYSE:KSS – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share guidance of $2.10-$2.70 for the period, compared to the consensus earnings per share estimate of $2.32. The company issued revenue guidance of $16.48 billion-$16.82 billion, compared to the consensus revenue estimate of $16.83 billion.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com assumed coverage on Kohl’s in a research note on Thursday, May 18th. They issued a hold rating for the company. Bank of America dropped their price target on Kohl’s from $25.00 to $22.00 in a research report on Thursday. Credit Suisse Group dropped their price target on Kohl’s to $27.00 in a research report on Wednesday, March 1st. Robert W. Baird dropped their price target on Kohl’s from $35.00 to $30.00 in a research report on Thursday. Finally, Guggenheim dropped their price target on Kohl’s from $42.00 to $38.00 and set a buy rating on the stock in a research report on Thursday, February 2nd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Kohl’s presently has a consensus rating of Hold and an average price target of $27.88.

Kohl’s Trading Up 2.4 %

KSS traded up $0.47 on Friday, hitting $20.14. 3,492,760 shares of the company were exchanged, compared to its average volume of 4,510,890. The firm has a fifty day simple moving average of $21.77 and a two-hundred day simple moving average of $26.52. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.18 and a current ratio of 1.17. Kohl’s has a 12 month low of $18.61 and a 12 month high of $47.63. The stock has a market capitalization of $2.23 billion, a PE ratio of -45.74, a price-to-earnings-growth ratio of 1.10 and a beta of 1.66.

Kohl’s (NYSE:KSS – Get Rating) last issued its quarterly earnings data on Wednesday, May 24th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.57. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.37 billion. Kohl’s had a negative return on equity of 0.47% and a negative net margin of 0.11%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. Sell-side analysts expect that Kohl’s will post 2.36 earnings per share for the current year.

Kohl’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.93%. Kohl’s’s dividend payout ratio is currently -465.11%.

Insider Activity at Kohl’s

In other news, CEO Thomas Kingsbury purchased 92,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The shares were bought at an average cost of $21.82 per share, for a total transaction 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 is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kohl’s

Several hedge funds have recently added to or reduced their stakes in the stock. Starboard Value LP bought a new position in shares of Kohl’s during the first quarter valued at $201,401,000. BlackRock Inc. increased its position in Kohl’s by 25.3% during the first quarter. BlackRock Inc. now owns 13,348,222 shares of the company’s stock valued at $314,217,000 after acquiring an additional 2,695,094 shares during the last quarter. Bank of America Corp DE increased its position in Kohl’s by 292.6% during the first quarter. Bank of America Corp DE now owns 2,449,068 shares of the company’s stock valued at $57,651,000 after acquiring an additional 1,825,313 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Kohl’s by 24.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,013,096 shares of the company’s stock valued at $227,580,000 after acquiring an additional 1,777,101 shares during the last quarter. Finally, Norges Bank purchased a new stake in Kohl’s during the fourth quarter valued at $42,157,000. 95.50% of the stock is owned by institutional investors.

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.