Zacks Investment Research Upgrades Kohl’s Corp. (KSS) to Buy
Kohl’s Corp. (NYSE:KSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $61.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 13.32% from the company’s current price.
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.”
KSS has been the topic of several other reports. Bank of America Corp. reissued a “buy” rating and issued a $50.00 price objective on shares of Kohl’s Corp. in a research note on Thursday, September 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $51.00 price target on shares of Kohl’s Corp. in a research note on Sunday, November 13th. Guggenheim began coverage on shares of Kohl’s Corp. in a research note on Friday, September 30th. They set a “buy” rating and a $50.00 price target on the stock. Vetr cut shares of Kohl’s Corp. from a “buy” rating to a “sell” rating and set a $41.50 price target on the stock. in a research note on Friday, August 12th. Finally, Goldman Sachs Group Inc. reaffirmed a “sell” rating and set a $35.00 price target on shares of Kohl’s Corp. in a research note on Monday, August 15th. Seven investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $50.15.
Kohl’s Corp. (NYSE:KSS) opened at 53.83 on Tuesday. The stock has a market capitalization of $9.53 billion, a P/E ratio of 16.38 and a beta of 1.00. The stock has a 50 day moving average of $47.81 and a 200 day moving average of $42.18. 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 announced its quarterly earnings data on Thursday, November 10th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.10. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Kohl’s Corp. had a net margin of 3.17% and a return on equity of 13.59%. Kohl’s Corp.’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. On average, analysts expect that Kohl’s Corp. will post $3.93 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Monday, December 5th. Kohl’s Corp.’s dividend payout ratio (DPR) is presently 61.16%.
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In related news, CFO Wesley S. Mcdonald sold 27,376 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $52.41, for a total transaction of $1,434,776.16. Following the completion of the sale, the chief financial officer now owns 93,908 shares of the company’s stock, valued at approximately $4,921,718.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Wesley S. Mcdonald sold 71,582 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $55.45, for a total transaction of $3,969,221.90. Following the sale, the chief financial officer now directly owns 108,788 shares of the company’s stock, valued at approximately $6,032,294.60. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of KSS. Assetmark Inc. increased its stake in Kohl’s Corp. by 0.5% in the third quarter. Assetmark Inc. now owns 2,317 shares of the company’s stock worth $101,000 after buying an additional 11 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Kohl’s Corp. by 0.6% in the second quarter. Oppenheimer & Co. Inc. now owns 6,483 shares of the company’s stock valued at $246,000 after buying an additional 40 shares during the period. Point View Wealth Management Inc. increased its stake in shares of Kohl’s Corp. by 0.5% in the second quarter. Point View Wealth Management Inc. now owns 10,167 shares of the company’s stock valued at $386,000 after buying an additional 50 shares during the period. Altfest L J & Co. Inc. increased its stake in shares of Kohl’s Corp. by 0.9% in the third quarter. Altfest L J & Co. Inc. now owns 5,623 shares of the company’s stock valued at $246,000 after buying an additional 50 shares during the period. Finally, Acropolis Investment Management LLC increased its stake in shares of Kohl’s Corp. by 0.4% in the third quarter. Acropolis Investment Management LLC now owns 12,385 shares of the company’s stock valued at $542,000 after buying an additional 55 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.
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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