Comerica Bank Reduces Position in Kimberly-Clark Co. $KMB

Key Points

• Comerica Bank reduced its stake in Kimberly-Clark Co. by 5.5%, selling 10,767 shares, and now holds approximately 185,109 shares valued at $26.3 million.
• Kimberly-Clark's recent earnings report showed an EPS of $1.92, exceeding estimates, but revenue fell to $4.16 billion, below analyst expectations of $4.85 billion.
• The company declared a quarterly dividend of $1.26 per share, representing an annualized yield of 3.8%, with an ex-dividend date set for September 5th.

Comerica Bank lowered its stake in shares of Kimberly-Clark Co. (NYSE:KMB - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,109 shares of the company's stock after selling 10,767 shares during the quarter. Comerica Bank owned about 0.06% of Kimberly-Clark worth $26,326,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Freedom Investment Management Inc. purchased a new stake in shares of Kimberly-Clark during the first quarter valued at $300,000. ICONIQ Capital LLC raised its stake in shares of Kimberly-Clark by 7.8% in the first quarter. ICONIQ Capital LLC now owns 2,296 shares of the company's stock worth $327,000 after purchasing an additional 167 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Kimberly-Clark by 1,340.4% during the first quarter. Jump Financial LLC now owns 43,587 shares of the company's stock worth $6,199,000 after purchasing an additional 40,561 shares during the period. Smartleaf Asset Management LLC boosted its position in Kimberly-Clark by 11.5% in the first quarter. Smartleaf Asset Management LLC now owns 4,434 shares of the company's stock valued at $624,000 after buying an additional 457 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Kimberly-Clark by 1.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 49,006 shares of the company's stock worth $6,970,000 after buying an additional 595 shares during the period. 76.29% of the stock is currently owned by institutional investors and hedge funds.

Kimberly-Clark Stock Performance

Shares of KMB traded down $1.49 during mid-day trading on Thursday, hitting $128.72. 1,757,356 shares of the company's stock were exchanged, compared to its average volume of 2,312,859. The firm has a market capitalization of $42.71 billion, a P/E ratio of 17.05, a P/E/G ratio of 4.46 and a beta of 0.33. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 7.05. The business's 50 day moving average is $130.51 and its two-hundred day moving average is $135.14. Kimberly-Clark Co. has a fifty-two week low of $124.10 and a fifty-two week high of $150.45.

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

Kimberly-Clark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. Kimberly-Clark's dividend payout ratio is currently 69.42%.

Wall Street Analyst Weigh In

KMB has been the subject of a number of recent research reports. UBS Group reduced their price objective on Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Piper Sandler initiated coverage on Kimberly-Clark in a research report on Friday, July 18th. They set an "overweight" rating and a $144.00 price target for the company. JPMorgan Chase & Co. raised Kimberly-Clark from an "underweight" rating to a "neutral" rating and increased their price target for the company from $125.00 to $138.00 in a report on Monday, August 4th. Finally, Barclays increased their price target on shares of Kimberly-Clark from $134.00 to $139.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $142.70.

About Kimberly-Clark

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.