CCM Investment Group LLC Acquires Shares of 27,166 Kimberly-Clark Co. (NYSE:KMB)

Key Points

• CCM Investment Group LLC purchased 27,166 shares of Kimberly-Clark Co. for approximately $3.82 million during the first quarter.
• Kimberly-Clark reported a quarterly earnings per share (EPS) of $1.92, exceeding analysts' estimates by $0.25, though its revenue declined 1.6% year-over-year.
• The company declared a quarterly dividend of $1.26 per share, providing an annualized yield of 3.7%, which will be paid to investors of record on September 5th.

CCM Investment Group LLC acquired a new stake in shares of Kimberly-Clark Co. (NYSE:KMB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,166 shares of the company's stock, valued at approximately $3,823,000.

A number of other hedge funds have also recently made changes to their positions in KMB. Vanguard Group Inc. raised its position in Kimberly-Clark by 0.3% in the first quarter. Vanguard Group Inc. now owns 35,235,465 shares of the company's stock worth $5,011,188,000 after acquiring an additional 92,920 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Kimberly-Clark by 6.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,264,013 shares of the company's stock worth $1,601,968,000 after buying an additional 674,046 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Kimberly-Clark by 5.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,529,108 shares of the company's stock worth $986,616,000 after buying an additional 417,118 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Kimberly-Clark by 3.1% in the 1st quarter. Invesco Ltd. now owns 5,827,666 shares of the company's stock worth $828,811,000 after acquiring an additional 173,915 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Kimberly-Clark by 12.6% in the 4th quarter. Northern Trust Corp now owns 3,974,239 shares of the company's stock worth $520,784,000 after acquiring an additional 445,552 shares during the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on KMB shares. Royal Bank Of Canada lowered their price target on shares of Kimberly-Clark from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Piper Sandler initiated coverage on shares of Kimberly-Clark in a research report on Friday, July 18th. They set an "overweight" rating and a $144.00 price objective on the stock. Barclays increased their price objective on shares of Kimberly-Clark from $134.00 to $139.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. UBS Group dropped their price target on shares of Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Finally, Evercore ISI dropped their price objective on shares of Kimberly-Clark from $168.00 to $155.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $142.70.

Kimberly-Clark Price Performance

Shares of KMB stock traded up $1.17 during mid-day trading on Wednesday, hitting $134.81. The company had a trading volume of 1,849,512 shares, compared to its average volume of 2,337,992. Kimberly-Clark Co. has a 52-week low of $124.10 and a 52-week high of $150.45. The stock's 50 day moving average price is $130.54 and its 200-day moving average price is $135.01. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.80 and a quick ratio of 0.54. The company has a market capitalization of $44.73 billion, a P/E ratio of 17.86, a P/E/G ratio of 4.46 and a beta of 0.33.

Kimberly-Clark (NYSE:KMB - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.67 by $0.25. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The company's quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts forecast that Kimberly-Clark Co. will post 7.5 earnings per share for the current year.

Kimberly-Clark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be given a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 5th. Kimberly-Clark's payout ratio is currently 69.42%.

Kimberly-Clark Company Profile

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products in the United States. 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.