State of Michigan Retirement System Sells 100 Shares of Kimberly-Clark Co. (NYSE:KMB)

by · The Cerbat Gem

State of Michigan Retirement System reduced its stake in shares of Kimberly-Clark Co. (NYSE:KMBFree Report) by 0.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 92,716 shares of the company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Kimberly-Clark were worth $11,205,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KMB. West Tower Group LLC purchased a new position in Kimberly-Clark in the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. purchased a new position in Kimberly-Clark in the 3rd quarter worth $26,000. Annapolis Financial Services LLC purchased a new position in Kimberly-Clark in the 2nd quarter worth $28,000. Fiduciary Alliance LLC purchased a new position in Kimberly-Clark in the 2nd quarter worth $29,000. Finally, Barrett & Company Inc. raised its position in Kimberly-Clark by 1,333.3% in the 2nd quarter. Barrett & Company Inc. now owns 215 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. 74.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KMB has been the topic of a number of analyst reports. Bank of America cut shares of Kimberly-Clark from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $135.00 to $115.00 in a research report on Friday, December 15th. Piper Sandler assumed coverage on shares of Kimberly-Clark in a research report on Friday, November 17th. They issued an “overweight” rating and a $146.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on shares of Kimberly-Clark from $147.00 to $132.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 10th. StockNews.com upgraded shares of Kimberly-Clark from a “hold” rating to a “buy” rating in a research report on Wednesday, October 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kimberly-Clark from $122.00 to $119.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Kimberly-Clark has a consensus rating of “Hold” and an average target price of $129.79.

View Our Latest Analysis on KMB

Insider Buying and Selling

In related news, insider Zackery A. Hicks sold 3,020 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $119.43, for a total transaction of $360,678.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jeffrey P. Melucci sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $121.71, for a total transaction of $365,130.00. Following the sale, the insider now owns 25,169 shares of the company’s stock, valued at $3,063,318.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Zackery A. Hicks sold 3,020 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $119.43, for a total transaction of $360,678.60. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

Kimberly-Clark Trading Up 0.4 %

Shares of KMB opened at $123.82 on Friday. The firm’s 50-day moving average price is $121.51 and its 200-day moving average price is $125.36. The firm has a market capitalization of $41.84 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.27 and a beta of 0.39. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 8.81. Kimberly-Clark Co. has a 1-year low of $116.32 and a 1-year high of $147.87.

Kimberly-Clark (NYSE:KMBGet Free Report) last announced its earnings results on Tuesday, October 24th. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.16. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.16 billion. Kimberly-Clark had a net margin of 8.63% and a return on equity of 292.92%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. Sell-side analysts anticipate that Kimberly-Clark Co. will post 6.59 EPS for the current year.

Kimberly-Clark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Friday, December 8th were paid a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, December 7th. Kimberly-Clark’s payout ratio is currently 90.77%.

Kimberly-Clark Profile

(Free Report)

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products worldwide. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The company's Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Sweety, Kotex, U by Kotex, Intimus, Thinx, Poise, Depend, Plenitud, Softex, and other brand names.

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