CIBC Asset Management Inc Sells 101,811 Shares of Kimberly-Clark Corporation $KMB

Key Points

• CIBC Asset Management cut its Kimberly-Clark stake by 51% in the fourth quarter, selling 101,811 shares and leaving it with 97,980 shares worth about $9.9 million.
• Kimberly-Clark reported better-than-expected quarterly results, posting EPS of $1.97 versus estimates of $1.93 and revenue of $4.16 billion versus $4.09 billion expected, with sales up 2.7% year over year.
• The company declared a quarterly dividend of $1.28 per share, implying a 5.2% annual yield, while analysts currently rate the stock a consensus “Hold” with a $114.93 price target.

CIBC Asset Management Inc cut its stake in Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 51.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,980 shares of the company's stock after selling 101,811 shares during the period. CIBC Asset Management Inc's holdings in Kimberly-Clark were worth $9,885,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Kimberly-Clark by 74.1% in the 4th quarter. Brighton Jones LLC now owns 6,494 shares of the company's stock valued at $851,000 after buying an additional 2,765 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Kimberly-Clark by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company's stock valued at $46,923,000 after buying an additional 24,698 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Kimberly-Clark by 44.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company's stock valued at $36,698,000 after buying an additional 87,455 shares in the last quarter. Main Street Financial Solutions LLC raised its stake in shares of Kimberly-Clark by 11.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company's stock valued at $424,000 after buying an additional 326 shares in the last quarter. Finally, HUB Investment Partners LLC raised its stake in shares of Kimberly-Clark by 20.5% in the 2nd quarter. HUB Investment Partners LLC now owns 10,639 shares of the company's stock valued at $1,372,000 after buying an additional 1,811 shares in the last quarter. 76.29% of the stock is owned by institutional investors.

Key Kimberly-Clark News

Here are the key news stories impacting Kimberly-Clark this week:

• Positive Sentiment: Jim Cramer highlighted Kimberly-Clark as an attractive staple stock, saying he likes it partly because of its pending merger with Kenvue, which may have helped boost investor interest in the name. Article
• Positive Sentiment: Investors are also focusing on Kimberly-Clark’s recent conference presentation and its upcoming dividend schedule, which can attract income-oriented buyers and support the stock during periods of market volatility. Article
• Positive Sentiment: The broader move into consumer staples also appears to be helping, as investors rotate toward more defensive sectors amid sharp weakness in the overall market. Article
• Neutral Sentiment: Kimberly-Clark’s recent conference appearance and prior earnings update reinforced steady fundamentals, but there was no single new operating headline driving the move. Article

Insider Activity

In related news, VP Andrew Scribner sold 4,095 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $401,310.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Katy Chen sold 1,596 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the sale, the insider directly owned 8,362 shares of the company's stock, valued at $797,233.08. This represents a 16.03% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 7,096 shares of company stock worth $689,687 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Kimberly-Clark Stock Performance

Shares of KMB stock opened at $99.04 on Friday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.55 and a current ratio of 0.77. The company has a market capitalization of $32.88 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 4.24 and a beta of 0.28. The company's 50 day moving average price is $97.47 and its two-hundred day moving average price is $101.06. Kimberly-Clark Corporation has a 52 week low of $92.42 and a 52 week high of $137.46.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.04. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.09 billion. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. On average, analysts expect that Kimberly-Clark Corporation will post 7.48 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 5th will be paid a $1.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.12 annualized dividend and a dividend yield of 5.2%. Kimberly-Clark's dividend payout ratio is 80.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Kimberly-Clark from $105.00 to $99.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 14th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Kimberly-Clark in a research report on Friday, March 27th. Wells Fargo & Company dropped their target price on shares of Kimberly-Clark from $110.00 to $100.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kimberly-Clark from $110.00 to $109.00 and set a "hold" rating for the company in a research report on Monday, March 30th. Finally, Piper Sandler dropped their target price 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, March 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Kimberly-Clark presently has a consensus rating of "Hold" and a consensus price target of $114.93.

Kimberly-Clark 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.