VIRGINIA RETIREMENT SYSTEMS ET Al Takes $91.19 Million Position in Kimberly-Clark Co. $KMB

Key Points

• Virginia Retirement Systems ET Al has acquired a new position in Kimberly-Clark Co. worth approximately $91.19 million, purchasing 707,300 shares during the second quarter.
• Several other hedge funds have also increased their stakes in Kimberly-Clark, with over 76% of the company's stock owned by institutional investors.
• Kimberly-Clark reported $1.92 EPS for the last quarter, exceeding analysts' expectations, although its revenues fell 1.6% year-over-year.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Kimberly-Clark Co. (NYSE:KMB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 707,300 shares of the company's stock, valued at approximately $91,185,000. Kimberly-Clark makes up about 0.6% of VIRGINIA RETIREMENT SYSTEMS ET Al's investment portfolio, making the stock its 28th largest position. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.21% of Kimberly-Clark as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Strs Ohio bought a new stake in Kimberly-Clark during the 1st quarter worth approximately $12,854,000. Elevate Capital Advisors LLC grew its position in shares of Kimberly-Clark by 46.4% during the 1st quarter. Elevate Capital Advisors LLC now owns 12,444 shares of the company's stock valued at $1,770,000 after purchasing an additional 3,944 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Kimberly-Clark by 86.8% in the first quarter. Citigroup Inc. now owns 509,585 shares of the company's stock worth $72,473,000 after purchasing an additional 236,733 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Kimberly-Clark by 270.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 984,695 shares of the company's stock worth $140,043,000 after purchasing an additional 718,720 shares during the period. Finally, United Community Bank raised its position in shares of Kimberly-Clark by 340.0% in the first quarter. United Community Bank now owns 18,518 shares of the company's stock worth $2,634,000 after buying an additional 14,309 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 $121.44 on Friday. The company has a market capitalization of $40.29 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 4.46 and a beta of 0.30. The business has a 50 day moving average of $126.65 and a 200 day moving average of $131.29. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.80 and a quick ratio of 0.54. Kimberly-Clark Co. has a 1-year low of $118.18 and a 1-year high of $150.45.

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

Kimberly-Clark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were paid a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, September 5th. Kimberly-Clark's dividend payout ratio (DPR) is 69.42%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KMB shares. Evercore ISI reduced their target price on Kimberly-Clark from $155.00 to $150.00 and set an "outperform" rating for the company in a research report on Monday, September 22nd. Citigroup cut their price objective on Kimberly-Clark from $118.00 to $113.00 and set a "sell" rating for the company in a report on Thursday, October 9th. Barclays lowered their target price on shares of Kimberly-Clark from $139.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 1st. UBS Group cut their price target on shares of Kimberly-Clark from $140.00 to $130.00 and set a "neutral" rating for the company in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Kimberly-Clark from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Kimberly-Clark has a consensus rating of "Hold" and a consensus target price of $137.00.

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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