New York State Common Retirement Fund Decreases Stake in Kimberly-Clark Corporation $KMB

New York State Common Retirement Fund cut its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,784 shares of the company’s stock after selling 20,000 shares during the period. New York State Common Retirement Fund owned approximately 0.10% of Kimberly-Clark worth $40,881,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. True Wealth Design LLC lifted its position in Kimberly-Clark by 177.6% during the third quarter. True Wealth Design LLC now owns 211 shares of the company’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Princeton Global Asset Management LLC raised its stake in Kimberly-Clark by 989.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 207 shares of the company’s stock valued at $27,000 after buying an additional 188 shares during the last quarter. Winnow Wealth LLC bought a new position in shares of Kimberly-Clark during the 2nd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in shares of Kimberly-Clark in the 2nd quarter worth $27,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in shares of Kimberly-Clark by 105.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 247 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares during the period. Hedge funds and other institutional investors own 76.29% of the company’s stock.

Kimberly-Clark Stock Up 1.3%

KMB opened at $99.99 on Friday. The stock has a market cap of $33.19 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 3.95 and a beta of 0.26. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.56 and a current ratio of 0.75. The firm’s fifty day moving average is $101.82 and its 200 day moving average is $115.45. Kimberly-Clark Corporation has a fifty-two week low of $96.26 and a fifty-two week high of $150.45.

Kimberly-Clark (NASDAQ:KMB) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Kimberly-Clark had a return on equity of 170.48% and a net margin of 11.73%.The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share. On average, sell-side analysts forecast that Kimberly-Clark Corporation will post 7.5 earnings per share for the current fiscal year.

Kimberly-Clark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Friday, March 6th will be issued a $1.28 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.12 dividend on an annualized basis and a yield of 5.1%. This is a boost from Kimberly-Clark’s previous quarterly dividend of $1.26. Kimberly-Clark’s payout ratio is presently 83.03%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup lowered their target price on Kimberly-Clark from $95.00 to $90.00 and set a “sell” rating on the stock in a report on Wednesday, January 14th. BNP Paribas Exane reiterated a “neutral” rating and issued a $110.00 price objective on shares of Kimberly-Clark in a research note on Monday, December 1st. Evercore ISI reissued an “in-line” rating and issued a $120.00 price objective (down previously from $150.00) on shares of Kimberly-Clark in a report on Tuesday, November 4th. Morgan Stanley reduced their target price on shares of Kimberly-Clark from $144.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kimberly-Clark from $127.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Kimberly-Clark has an average rating of “Hold” and an average target price of $118.58.

Kimberly-Clark 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.