Cresset Asset Management LLC Decreases Stake in Kimberly-Clark Co. $KMB

Key Points

• Cresset Asset Management LLC significantly reduced its holdings in Kimberly-Clark Co. by 83.6%, owning only 9,849 shares after selling 50,149 shares in the first quarter.
• Despite Cresset's divestment, other large investors such as Citigroup Inc. and OVERSEA CHINESE BANKING Corp Ltd have increased their stakes in Kimberly-Clark, reflecting varying investor confidence.
• Kimberly-Clark reported a net margin of 12.69% and earnings per share of $1.92, exceeding expectations, although revenue declined by 1.6% from the previous year.

Cresset Asset Management LLC reduced its holdings in Kimberly-Clark Co. (NYSE:KMB - Free Report) by 83.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,849 shares of the company's stock after selling 50,149 shares during the quarter. Cresset Asset Management LLC's holdings in Kimberly-Clark were worth $1,413,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KMB. GAMMA Investing LLC grew its position in shares of Kimberly-Clark by 10,975.8% in the 1st quarter. GAMMA Investing LLC now owns 1,902,050 shares of the company's stock worth $270,510,000 after buying an additional 1,884,877 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Kimberly-Clark by 2,982.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,384,318 shares of the company's stock worth $196,878,000 after buying an additional 1,339,413 shares during the last quarter. Trinity Financial Advisors LLC bought a new stake in shares of Kimberly-Clark in the 1st quarter worth approximately $181,762,000. Nuveen LLC bought a new stake in shares of Kimberly-Clark in the 1st quarter worth approximately $106,458,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Kimberly-Clark by 270.2% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 984,695 shares of the company's stock worth $140,043,000 after buying an additional 718,720 shares during the last quarter. 76.29% of the stock is currently owned by institutional investors.

Kimberly-Clark Stock Down 0.7%

Shares of KMB stock traded down $0.94 during mid-day trading on Tuesday, hitting $129.81. The company's stock had a trading volume of 3,165,313 shares, compared to its average volume of 2,321,786. Kimberly-Clark Co. has a 52-week low of $124.10 and a 52-week high of $150.45. The business has a 50-day moving average price of $130.45 and a 200 day moving average price of $135.19. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.54 and a current ratio of 0.80. The stock has a market cap of $43.07 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 4.46 and a beta of 0.33.

Kimberly-Clark (NYSE:KMB - Get Free Report) last posted 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. Kimberly-Clark had a return on equity of 201.43% and a net margin of 12.69%.The firm had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter in the previous year, the business earned $1.96 earnings per share. The company's revenue was down 1.6% on a year-over-year basis. Research analysts predict that Kimberly-Clark Co. will post 7.5 EPS for the current fiscal year.

Kimberly-Clark Announces Dividend

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

Wall Street Analyst Weigh In

KMB has been the topic of several research reports. UBS Group dropped their price target on Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. upgraded Kimberly-Clark from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $125.00 to $138.00 in a research report on Monday, August 4th. 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 on the stock. Finally, Barclays lifted their price target on Kimberly-Clark from $134.00 to $139.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kimberly-Clark currently has an average rating of "Hold" and a consensus target price of $142.70.

Kimberly-Clark 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.