SCHEDULE 13G/A: BlackRock Discloses 14.8% Stake in Kohl's Corp
Ownership Disclosure
BlackRock, Inc. has filed an amended Schedule 13G, revealing a beneficial ownership of 14.8% of Kohl's Corp common stock as of June 30, 2025.
Summary
- BlackRock, Inc. reported beneficial ownership of 16,543,308 shares of Kohl's Corp common stock.
- This represents 14.8% of the total outstanding common stock of Kohl's Corp.
- BlackRock holds sole voting power over 16,270,704 shares and sole dispositive power over 16,543,308 shares.
- The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Kohl's Corp.
- iShares Core S&P Small-Cap ETF, an entity associated with BlackRock, is noted to have an interest exceeding five percent in Kohl's common stock.
Sentiment
Score: 5
Explanation: The document is a standard Schedule 13G filing disclosing beneficial ownership, which is a factual report and does not inherently convey positive or negative sentiment regarding the issuer's performance or outlook.
Positives
- A significant passive stake by a major institutional investor like BlackRock could be viewed as a vote of confidence in Kohl's Corp.
- The filing indicates a passive investment, not intended to influence control, which might suggest stability from a corporate governance perspective.
Future Outlook
NA
Management Comments
- "To the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."
Industry Context
This filing reflects a common practice where large asset managers like BlackRock hold significant, passive stakes across numerous publicly traded companies as part of their investment strategies for various funds and clients. It does not indicate a specific strategic move related to the retail industry or Kohl's competitive landscape beyond being an investment.
Comparison to Industry Standards
- BlackRock's 14.8% stake in Kohl's Corp is a substantial passive investment, typical for large index fund managers.
- This level of ownership is consistent with a major institutional investor's portfolio allocation rather than an activist stake, similar to holdings by other large asset managers like Vanguard or State Street in various S&P 500 companies, which often range from 5% to 15% or more.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact (for BlackRock, Inc.) | Previous list of attorneys-in-fact (not specified in document) | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | Revocation of prior power of attorney and establishment of new authorization for executing regulatory filings. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. updated its Power of Attorney, revoking the one dated April 30, 2023, and establishing a new one effective January 21, 2025. This grants specific individuals the authority to execute documents related to ownership or control-person reporting requirements. | 2025-01-21 | Streamlines and updates the authorization process for SEC and other regulatory filings for BlackRock and its subsidiaries. |
Stakeholder Impact
- Shareholders: BlackRock's significant passive stake may provide a degree of stability and confidence, as it signals a major institutional investor's long-term, non-activist interest in Kohl's Corp.
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Previous Power of Attorney date, which was revoked. |
| 2025-01-21 | Date of the new Power of Attorney for BlackRock, Inc. |
| 2025-06-30 | Date of event which requires filing of this statement for Kohl's Corp ownership. |
| 2025-07-17 | Date of signature for the Schedule 13G filing by BlackRock, Inc. |
Keywords
BlackRock, Kohl's Corp, KSS, Schedule 13G, beneficial ownership, institutional investor, common stock, SEC filing, passive investment
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