Shares of Kohl’s Corporation (NYSE:KSS) have received a consensus recommendation of “Reduce” from sixteen brokerages covering the retailer, according to data from Marketbeat. Analysts have issued a mix of ratings: six recommend selling the stock, nine suggest holding it, and one analyst has given a buy rating. The average price target among these analysts is $15.27 for the next twelve months.
Recent reports from several equity research firms provide insight into the evolving views on Kohl’s. On February 14, 2024, Wall Street Zen downgraded the company from a “buy” to a “hold” rating. Meanwhile, the Goldman Sachs Group increased its target price from $11.00 to $15.00 while maintaining a “sell” rating in a note dated November 26, 2023. Robert W. Baird set a more optimistic target of $24.00 on December 17, 2023, while Gordon Haskett upgraded the stock from “accumulate” to “buy” on November 25, 2023. Additionally, UBS Group raised its price target from $4.50 to $7.00 on the same day as Goldman Sachs, also giving it a “sell” rating.
In trading on the New York Stock Exchange, Kohl’s saw a decline of 5.5% recently.
Dividend Announcement and Insider Activity
Kohl’s recently announced a quarterly dividend to be paid on April 1, 2024. Shareholders who are on record as of March 18, 2024 will receive a dividend of $0.125 per share. This dividend equates to an annualized payout of $0.50 and a yield of 3.2%. The company’s dividend payout ratio stands at 29.07%.
In related news, Jill Timm, the Chief Financial Officer of Kohl’s, sold 10,000 shares of the company’s stock on December 10, 2023, at an average price of $24.00, amounting to a total of $240,000. Following this transaction, Timm retains 325,561 shares valued at approximately $7,813,464. This sale represented a 2.98% decrease in her ownership stake. The transaction was documented in a filing with the U.S. Securities and Exchange Commission (SEC).
Institutional Investor Engagement
Institutional investors have recently been active in the market for Kohl’s shares. For example, Harbor Capital Advisors Inc. acquired a new position in the company during the third quarter, valued at approximately $28,000. IFP Advisors Inc. significantly boosted its holdings in Kohl’s by an impressive 3,777.6% during the same period, raising its stake to 1,900 shares worth around $31,000 after purchasing an additional 1,851 shares.
Other investors include Caldwell Trust Co., which entered the market with a new position valued at $33,000, and Farther Finance Advisors LLC, which increased its stake by 233.9% in the fourth quarter. This firm now owns 1,666 shares, valued at approximately $34,000. Overall, institutional investors and hedge funds collectively hold 98.04% of Kohl’s stock.
Founded in 1962 by Maxwell Kohl, Kohl’s Corporation is headquartered in Menomonee Falls, Wisconsin. The company operates around 1,100 stores across 49 states, focusing on value-oriented pricing and a diverse range of products, including apparel, footwear, and home goods. Since its initial public offering in 1992, Kohl’s has aimed to enhance the shopping experience both in-store and online.
