Kimberly-Clark Corporation $KMB Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System cut its Kimberly-Clark stake by 31.8% in the first quarter, selling 266,461 shares and leaving it with 570,262 shares worth about $55 million.
• Kimberly-Clark beat quarterly earnings and revenue estimates, reporting EPS of $1.97 versus $1.93 expected and revenue of $4.16 billion versus $4.09 billion forecast.
• The company also paid a quarterly dividend of $1.28 per share, implying an annualized yield of 4.7%, while analysts currently have a consensus Hold rating and average target price of $116.79.

California Public Employees Retirement System trimmed its holdings in Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 31.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 570,262 shares of the company's stock after selling 266,461 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Kimberly-Clark worth $55,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KMB. Assetmark Inc. grew its holdings in shares of Kimberly-Clark by 0.6% in the first quarter. Assetmark Inc. now owns 20,216 shares of the company's stock valued at $1,950,000 after purchasing an additional 121 shares during the period. Bessemer Group Inc. raised its stake in Kimberly-Clark by 41.4% during the first quarter. Bessemer Group Inc. now owns 10,001 shares of the company's stock worth $965,000 after purchasing an additional 2,927 shares during the period. Avalon Trust Co boosted its holdings in Kimberly-Clark by 119.8% in the 1st quarter. Avalon Trust Co now owns 734 shares of the company's stock valued at $71,000 after purchasing an additional 400 shares during the last quarter. SteelPeak Wealth LLC purchased a new stake in shares of Kimberly-Clark in the 1st quarter valued at approximately $1,276,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Kimberly-Clark by 5.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,500 shares of the company's stock valued at $2,195,000 after buying an additional 1,184 shares during the period. 76.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kimberly-Clark

In other Kimberly-Clark news, insider Katy Chen sold 1,596 shares of Kimberly-Clark stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the transaction, the insider directly owned 8,362 shares of the company's stock, valued at $797,233.08. The trade was a 16.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Andrew Scribner sold 4,095 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total transaction of $401,310.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 7,096 shares of company stock valued at $689,687. Company insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KMB shares. Bank of America reduced their price target on shares of Kimberly-Clark from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. Wells Fargo & Company increased their price objective on Kimberly-Clark from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft cut their target price on Kimberly-Clark from $110.00 to $109.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Barclays decreased their price target on Kimberly-Clark from $105.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 14th. Finally, Piper Sandler increased their price target on Kimberly-Clark from $115.00 to $121.00 and gave the stock an "overweight" rating in a report on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $116.79.

Kimberly-Clark Stock Performance

Shares of KMB stock opened at $108.48 on Tuesday. The firm's 50 day moving average price is $103.44 and its 200-day moving average price is $101.79. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.55 and a current ratio of 0.77. Kimberly-Clark Corporation has a one year low of $92.42 and a one year high of $137.46. The firm has a market cap of $36.01 billion, a P/E ratio of 17.03, a P/E/G ratio of 4.82 and a beta of 0.26.

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 for the quarter, topping analysts' consensus estimates of $1.93 by $0.04. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The firm had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.09 billion. During the same quarter last year, the company posted $1.93 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that Kimberly-Clark Corporation will post 7.47 EPS for the current year.

Kimberly-Clark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were paid a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, June 5th. Kimberly-Clark's dividend payout ratio is 80.38%.

Kimberly-Clark Company 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.

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