Corebridge Financial Inc. Sells 10,683 Shares of Kimberly-Clark Co. $KMB

Key Points

• Corebridge Financial Inc. has reduced its stake in Kimberly-Clark Co. by 9.5%, holding 101,360 shares valued at approximately $14.4 million after selling 10,683 shares in the first quarter.
• Despite the decline in Corebridge's holdings, other institutional investors, such as Brighton Jones LLC and Capital Analysts LLC, have increased their positions in Kimberly-Clark, reflecting a broader interest with 76.29% of the stock owned by institutional investors.
• Kimberly-Clark's recent quarterly earnings beat analyst expectations with an EPS of $1.92, but revenue fell short at $4.16 billion, marking a 1.6% decline from the prior year.

Corebridge Financial Inc. cut its stake in Kimberly-Clark Co. (NYSE:KMB - Free Report) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,360 shares of the company's stock after selling 10,683 shares during the quarter. Corebridge Financial Inc.'s holdings in Kimberly-Clark were worth $14,415,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. NCM Capital Management LLC increased its position in Kimberly-Clark by 4.9% during the first quarter. NCM Capital Management LLC now owns 2,135 shares of the company's stock worth $304,000 after acquiring an additional 100 shares during the period. Apexium Financial LP grew its position in shares of Kimberly-Clark by 33.3% during the 1st quarter. Apexium Financial LP now owns 12,334 shares of the company's stock worth $1,770,000 after purchasing an additional 3,081 shares in the last quarter. Freedom Investment Management Inc. bought a new position in shares of Kimberly-Clark during the first quarter worth approximately $300,000. ICONIQ Capital LLC raised its position 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 valued at $327,000 after buying an additional 167 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in shares of Kimberly-Clark by 1,340.4% in the first quarter. Jump Financial LLC now owns 43,587 shares of the company's stock valued at $6,199,000 after buying an additional 40,561 shares during the period. 76.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KMB. UBS Group dropped their price objective on Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Barclays upped their target price 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. Piper Sandler began coverage on Kimberly-Clark in a research report on Friday, July 18th. They set an "overweight" rating and a $144.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded Kimberly-Clark from an "underweight" rating to a "neutral" rating and upped their target price for the company from $125.00 to $138.00 in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Kimberly-Clark has a consensus rating of "Hold" and a consensus target price of $142.70.

Kimberly-Clark Price Performance

Shares of KMB traded up $0.42 during trading hours on Friday, reaching $129.14. The stock had a trading volume of 1,785,551 shares, compared to its average volume of 2,309,663. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.54 and a current ratio of 0.80. Kimberly-Clark Co. has a 12 month low of $124.10 and a 12 month high of $150.45. The stock has a market capitalization of $42.85 billion, a PE ratio of 17.10, a PEG ratio of 4.46 and a beta of 0.33. The company's 50-day moving average is $130.53 and its two-hundred day moving average is $135.11.

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

Kimberly-Clark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders 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 dividend yield of 3.9%. The ex-dividend date is Friday, September 5th. Kimberly-Clark's dividend payout ratio is presently 69.42%.

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.