Kimberly-Clark Co. (NYSE:KMB) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its position in shares of Kimberly-Clark Co. (NYSE:KMB) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,370 shares of the company’s stock after selling 10,280 shares during the quarter. CIBC Asset Management Inc’s holdings in Kimberly-Clark were worth $14,992,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vest Financial LLC increased its position in shares of Kimberly-Clark by 6.5% in the third quarter. Vest Financial LLC now owns 347,269 shares of the company’s stock valued at $49,409,000 after buying an additional 21,339 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Kimberly-Clark during the second quarter worth about $14,751,000. Swedbank AB lifted its holdings in shares of Kimberly-Clark by 4.0% in the second quarter. Swedbank AB now owns 166,108 shares of the company’s stock valued at $22,956,000 after purchasing an additional 6,392 shares in the last quarter. PGGM Investments grew its position in shares of Kimberly-Clark by 84.6% in the second quarter. PGGM Investments now owns 25,927 shares of the company’s stock valued at $3,583,000 after purchasing an additional 11,882 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its stake in shares of Kimberly-Clark by 107.8% during the 1st quarter. CreativeOne Wealth LLC now owns 12,129 shares of the company’s stock worth $1,569,000 after purchasing an additional 6,293 shares in the last quarter. 76.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on KMB. StockNews.com downgraded Kimberly-Clark from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Kimberly-Clark from $146.00 to $147.00 and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Barclays upped their target price on shares of Kimberly-Clark from $135.00 to $144.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. cut their price objective on shares of Kimberly-Clark from $142.00 to $140.00 and set an “underweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Kimberly-Clark from $138.00 to $134.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Kimberly-Clark presently has a consensus rating of “Hold” and an average target price of $149.93.

Kimberly-Clark Stock Performance

NYSE KMB opened at $134.08 on Friday. The company has a debt-to-equity ratio of 4.77, a current ratio of 0.83 and a quick ratio of 0.55. Kimberly-Clark Co. has a 1-year low of $117.67 and a 1-year high of $149.30. The firm has a market capitalization of $44.71 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.77 and a beta of 0.40. The business’s 50-day simple moving average is $139.75 and its 200-day simple moving average is $139.13.

Kimberly-Clark (NYSE:KMB) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.14. Kimberly-Clark had a net margin of 12.97% and a return on equity of 198.59%. The firm had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the previous year, the company posted $1.74 earnings per share. Kimberly-Clark’s revenue was down 3.5% compared to the same quarter last year. Equities analysts predict that Kimberly-Clark Co. will post 7.27 EPS for the current year.

Kimberly-Clark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, December 6th. Kimberly-Clark’s dividend payout ratio (DPR) is presently 63.29%.

Kimberly-Clark 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.