|Bid||79.25 x 900|
|Ask||79.95 x 800|
|Day's Range||79.21 - 85.69|
|52 Week Range||26.29 - 99.24|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||21.29%|
|Beta (5Y Monthly)||1.54|
|Expense Ratio (net)||0.35%|
Beth Azor, founder and owner of Azor Advisory Services, joined Yahoo Finance Live to discuss the future of shopping malls.
Jonathan Duskin, Macellum Capital CEO, joined Yahoo Finance Live to discuss why activist investors are looking to take control of Kohl's board.
Kohl's Corp. responded to a letter published earlier Monday by an activist investor group, in which the group nominated a controlling slate of nine board members, with the retailer saying it rejects the group's attempt to seize control of the company. The stock shot up 7.9% in midday trading toward the highest close since November 2019. The investor group, which consists of Macellum Advisors GP LLC, Legion Parthers Holdings LLC, Ancora Advisors LLC and 4010 Capital LLC beneficially own a combined 14.95 million Kohl's shares, or about 9.5% of the shares outstanding. The group said "poor retail execution" by Kohl's has led to stagnant sales and declining margins, while the "long-tenured board with insufficient retail experience" lack any material ownership in the company and is an "impediment" to serving shareholders. The group said that it's board nominations could help generate more than $10 in earnings per share per year. But Kohl's said the group's proposal would disrupt momentum, "especially considering we are well underway in implementing a strong growth strategy and accelerating our performance," and have already refreshed half its board over the past five years. Kohl's stock has rallied 27.6% over the past 12 months, while the SPDR S&P Retail ETF has soared 74.3% and the S&P 500 has gained 16.6%.