Grimes & Company Inc. Raises Holdings in Kimberly-Clark Co. $KMB

Key Points

• Grimes & Company Inc. increased its stake in Kimberly-Clark Co. by 4.4% during the second quarter, owning 148,406 shares valued at approximately $19.1 million.
• Kimberly-Clark reported earnings of $1.92 per share, exceeding analysts' estimates of $1.67, despite a 1.6% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $1.26, equating to an annualized dividend of $5.04 and a yield of 4.1%.

Grimes & Company Inc. grew its position in shares of Kimberly-Clark Co. (NYSE:KMB - Free Report) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,406 shares of the company's stock after buying an additional 6,233 shares during the period. Grimes & Company Inc.'s holdings in Kimberly-Clark were worth $19,133,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Kimberly-Clark by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 35,235,465 shares of the company's stock valued at $5,011,188,000 after buying an additional 92,920 shares in the last quarter. 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 valued at $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 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,095,260 shares of the company's stock valued at $1,151,309,000 after buying an additional 566,152 shares in the last quarter. Invesco Ltd. grew its stake in Kimberly-Clark by 3.1% in the 1st quarter. Invesco Ltd. now owns 5,827,666 shares of the company's stock valued at $828,811,000 after buying an additional 173,915 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Kimberly-Clark by 0.9% in the 1st quarter. Royal Bank of Canada now owns 3,460,069 shares of the company's stock valued at $492,091,000 after buying an additional 29,453 shares in the last quarter. Hedge funds and other institutional investors own 76.29% of the company's stock.

Kimberly-Clark Stock Performance

NYSE KMB opened at $122.58 on Monday. Kimberly-Clark Co. has a 52-week low of $121.02 and a 52-week high of $150.45. 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 company has a market capitalization of $40.67 billion, a P/E ratio of 16.24, a P/E/G ratio of 4.46 and a beta of 0.30. The company has a fifty day moving average of $128.85 and a 200-day moving average of $132.63.

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

Kimberly-Clark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were paid a $1.26 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.04 annualized dividend and a yield of 4.1%. Kimberly-Clark's payout ratio is currently 69.42%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KMB. JPMorgan Chase & Co. upgraded shares of Kimberly-Clark from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $125.00 to $138.00 in a research note on Monday, August 4th. Evercore ISI cut their price target on shares of Kimberly-Clark from $155.00 to $150.00 and set an "outperform" rating for the company in a report on Monday, September 22nd. Piper Sandler cut their price target on shares of Kimberly-Clark from $149.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday. Wells Fargo & Company cut their price target on shares of Kimberly-Clark from $140.00 to $130.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Finally, UBS Group cut their price target on shares of Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $140.50.

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.

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