Kimberly-Clark Corporation $KMB Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in Kimberly-Clark Corporation (NASDAQ:KMB) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,015,581 shares of the company’s stock after selling 216,603 shares during the quarter. California Public Employees Retirement System owned 0.31% of Kimberly-Clark worth $126,277,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KMB. Cloud Capital Management LLC purchased a new position in Kimberly-Clark in the 3rd quarter valued at about $25,000. True Wealth Design LLC increased its stake in Kimberly-Clark by 177.6% during the third quarter. True Wealth Design LLC now owns 211 shares of the company’s stock worth $26,000 after acquiring an additional 135 shares during the last quarter. Winnow Wealth LLC purchased a new position in Kimberly-Clark in the second quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new position in shares of Kimberly-Clark during the 2nd quarter valued at $27,000. Finally, Vermillion & White Wealth Management Group LLC boosted its position in shares of Kimberly-Clark by 105.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 247 shares of the company’s stock worth $32,000 after buying an additional 127 shares during the period. 76.29% of the stock is owned by hedge funds and other institutional investors.

Kimberly-Clark Stock Performance

KMB stock opened at $98.84 on Monday. Kimberly-Clark Corporation has a 12 month low of $96.26 and a 12 month high of $147.12. The firm has a 50 day moving average of $103.32 and a two-hundred day moving average of $109.97. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 3.97. The company has a market capitalization of $32.81 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 3.51 and a beta of 0.24.

Kimberly-Clark (NASDAQ:KMB) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.81 by $0.05. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.11 billion. Kimberly-Clark had a return on equity of 170.48% and a net margin of 11.73%.The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.50 earnings per share. As a group, equities analysts anticipate that Kimberly-Clark Corporation will post 7.5 EPS for the current fiscal year.

Kimberly-Clark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 6th will be given a $1.28 dividend. The ex-dividend date is Friday, March 6th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 5.2%. This is an increase from Kimberly-Clark’s previous quarterly dividend of $1.26. Kimberly-Clark’s dividend payout ratio is 84.35%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KMB. TD Cowen lowered their target price on Kimberly-Clark from $112.00 to $105.00 and set a “hold” rating for the company in a research note on Thursday, January 8th. Piper Sandler lowered their price objective on shares of Kimberly-Clark from $133.00 to $114.00 and set an “overweight” rating for the company in a research report on Friday. Zacks Research cut Kimberly-Clark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Kimberly-Clark in a research report on Monday, December 29th. Finally, UBS Group raised their price objective on shares of Kimberly-Clark from $107.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $116.42.

Insider Transactions at Kimberly-Clark

In other news, VP Andrew Scribner sold 3,049 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $104.29, for a total transaction of $317,980.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by company insiders.

Kimberly-Clark Company Profile

Kimberly-Clark Corporation is a U.S.-based multinational manufacturer of personal care and consumer tissue products. The company develops, produces and markets a range of consumer brands and professional products, including facial and bathroom tissues, disposable diapers and training pants, feminine care, incontinence products and workplace hygiene solutions. Known for consumer-facing names such as Kleenex, Huggies, Kotex, Cottonelle and Scott, as well as professional offerings under Kimberly-Clark Professional and KleenGuard, the company supplies goods to retail, healthcare and institutional customers.

Founded in 1872 in Neenah, Wisconsin, Kimberly-Clark has expanded from its 19th-century paper-making roots into a global household and workplace products company.