On September 14, 2023, it was reported that the State Board of Administration of Florida Retirement System had reduced its stake in Kimberly-Clark Co. (NYSE:KMB) by 2.7% during the first quarter. This information was disclosed in the company’s most recent filing with the Securities & Exchange Commission. At the end of the quarter, the fund owned 411,709 shares of Kimberly-Clark stock, after selling 11,480 shares. The value of this stake amounted to approximately $55,260,000, representing about 0.12% ownership of Kimberly-Clark.
Kimberly-Clark (NYSE:KMB) released its earnings results on July 25th, revealing that it had exceeded analysts’ consensus estimates for the quarter. The company reported earnings per share of $1.65, surpassing forecasts by $0.17. Additionally, Kimberly-Clark achieved a return on equity of 303.40% and a net margin of 8.07%. Its revenue for the quarter stood at $5.13 billion, which matched consensus estimates. Compared to the same period last year, revenue increased by 1.4%. Analysts who follow this stock anticipate that Kimberly-Clark will post earnings per share of $6.42 for the current year.
Several research reports have been published on Kimberly-Clark (NYSE:KMB), shedding light on its performance and prospects within the market. StockNews.com recently initiated coverage on the company with a “buy” rating. However, TheStreet downgraded Kimberly-Clark from a “b” to a “c+” rating in one report released on July 25th. Additionally, Bank of America reduced their target price for Kimberly-Clark from $145 to $138 on July 26th, while Citigroup lowered their price objective from $130 to $126 on the same day.
In contrast, Barclays raised its price target for Kimberly-Clark from $137 to $141 and assigned the stock an “equal weight” rating on July 27th. Overall, two investment analysts have given a sell rating to Kimberly-Clark’s stock, eight have assigned a hold rating, and two have issued a buy rating. According to Bloomberg’s data, Kimberly-Clark currently has a consensus rating of “Hold” with an average price target of $135.33.
In conclusion, the State Board of Administration of Florida Retirement System has reduced its stake in Kimberly-Clark Co., according to recent disclosures with the Securities & Exchange Commission. Despite this, Kimberly-Clark surpassed earnings expectations for the quarter and witnessed a slight increase in revenue compared to the same period last year. While research reports on the company vary in their outlook for its stock, the average consensus among analysts suggests a “Hold” rating with an average price target of $135.33.
Institutional Investors and Hedge Funds Show Interest in Kimberly-Clark Co. as Insiders Sell Stock
September 14, 2023 – Institutional investors and hedge funds have been making strategic moves with regards to their stakes in Kimberly-Clark Co. In the first quarter, Lincoln National Corp increased its stake in the company by 0.8%, now owning 9,554 shares valued at $1,282,000. Similarly, Chesley Taft & Associates LLC and Country Club Bank GFN boosted their stakes by 3.6% and 1.5% respectively during the same period. Finally, Wolff Wiese Magana LLC and Avidian Wealth Solutions LLC also added to their positions by 1.0% and 1.2% respectively.
Overall, an impressive 74.38% of Kimberly-Clark stock is owned by hedge funds and other institutional investors, showcasing a strong interest in the company’s performance.
In other news related to Kimberly-Clark, insider Sandra R. Karrmann recently sold 5,122 shares of the company’s stock in a transaction on August 29th for approximately $664,835.60. Following this sale, Karrmann holds 6,228 shares valued at $808,394.40.
Another insider named Jeffrey P. Melucci also made a significant sale of 4,423 shares on July 27th for a total value of $576,007.29. Melucci currently owns 28,169 shares of Kimberly-Clark stock worth $3,668,448.87.
The disclosure for these transactions can be accessed through the Securities & Exchange Commission website.
On another note, Kimberly-Clark’s stock opened at $124.99 on Thursday and has experienced a range between $108.74 and $147.87 over the past year.
The financial ratios indicate that the company has a current ratio of 0.87 and a quick ratio of 0.55, suggesting potentially favorable liquidity levels for the organization. Additionally, Kimberly-Clark Co. has a debt-to-equity ratio of 12.21.
The company’s 50-day simple moving average stands at $130.10, while the 200-day simple moving average is slightly higher at $133.81.
With a market capitalization of $42.27 billion, Kimberly-Clark Co. holds a price-to-earnings (P/E) ratio of 25.77 and a price/earnings to growth (PEG) ratio of 2.43.
Furthermore, the stock exhibits a beta of 0.39, indicating its sensitivity to market movements in comparison to the broader stock market.
These recent developments and figures provide valuable insights for investors and stakeholders interested in analyzing the performance and potential returns associated with Kimberly-Clark as an investment opportunity.