Billionaire Ken Griffin Is Selling These 5 Stocks In 2022

1. Kohl’s Corporation (NYSE:KSS)

Number Of Hedge Fund Holders: 42

Kohl’s Corporation (NYSE:KSS) operates as the largest department store chain in the United States, with 1,162 locations in almost every state. The company offers branded apparel, footwear, accessories, beauty, and home products through its stores and website.

Of late, Kohl’s Corporation (NYSE:KSS) is involved in exclusive sales talks with the Franchise Group Inc. According to the details provided, the owner of the Vitamin Shoppe and other distinct brands has offered to buy the Wisconsin-based department store chain for $60 per share. However, the final transaction will have to be approved by the board of directors of both companies.

Earlier this May, Citi analyst Paul Lejuez cut estimates for several companies and downgraded several retail stocks, including Kohl’s Corporation (NYSE:KSS) which was downgraded to Neutral from Buy, with a price target of $39, down from $55. The analyst states that a lack of stimulus and the burden of higher food and fuel prices are squeezing several lower income consumers, leading to a pullback in discretionary categories like apparel and home. He adds that retailers are facing higher costs, which will now be harder to pass on to consumers.

Out of all the hedge funds tracked by Insider Monkey, 42 held positions in Kohl’s Corporation (NYSE:KSS) with a combined value of $789.3 million. This is compared to 34 hedge funds in the preceding quarter, with $707 million worth of stakes. Jeffrey Smith’s Starboard Value LP is a notable investor in Kohl’s Corporation (NYSE:KSS), and ranks as its biggest shareholder with 3.3 million shares valued at $201.4 million.

You can also take a look at 10 Stocks Warren Buffett is Selling and 10 Best Stocks to Buy According to Billionaire Mario Gabelli.

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