Kohl's Stock Set to Snap Lengthy Win Streak

KSS wrapped up a seventh straight win on Friday

Deputy Editor
Oct 14, 2019 at 10:00 AM
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The shares of department store Kohl's Corporation (NYSE:KSS) are slightly lower this morning, set to snap a seven-day win streak -- their longest in at least a year. KSS jumped last week after naming Executive Vice President Jill Timm as its new chief financial officer (CFO). She will be replacing retiring CFO Bruce Besanko starting Nov. 1. KSS stock is down 1.2% at $50.83 this morning. 

Kohl's stock last week bounced off the $45-$46 region, which has served as a floor for the stock in recent months. Despite the recent winning streak, KSS remains more than 20% lower in 2019, and is squaring up with its 120-day moving average once again -- a trendline the stock hasn't defeated since before a massive May bear gap.

Most members of the brokerage bunch are cautious on the stock, with seven calling it a "hold" or worse, while five say "strong buy." What's more, the consensus 12-month target price of $55.88 represents a slim 10% premium to current levels. 

Short sellers, on the other hand, have begun to fall off the bearish bandwagon, with short interest down 18.3% in the last two reporting periods. The 18.94 million shares sold short still make up 12% of the stock's available float, though, and would take almost a week to cover, at KSS' average pace of trading.


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