David Tepper Initiated Buying These 5 Stocks for the Rest of 2022

2. Kohl’s Corporation (NYSE:KSS)

Number of Hedge Fund Holders: 40

Kohl’s Corporation (NYSE:KSS) is an American department store and retail chain corporation. The company operates 1,162 department stores across the US, making it the country’s largest department store chain.

On August 19, Deutsche Bank analyst Gabriella Carbone reaffirmed a Buy rating on Kohl’s Corporation (NYSE:KSS) and lowered her price target to $36 from $37. The analyst noted that even though the quarterly results were in line with Wall Street estimates, they were below Kohl’s Corporation (NYSE:KSS)’s expectations as the middle-income customer becomes “more cost-conscious” due to inflation. She added that people are spending less and making fewer shopping trips.

Appaloosa Management increased its holdings in Kohl’s Corporation (NYSE:KSS) by 168% to 1.875 million shares, valued at $66.919 million, covering 4.2% of the fund’s portfolio at the end of Q2 2022.