New York State Teachers Retirement System Sells 2,257 Shares of Kimberly-Clark Co. (NYSE:KMB)

New York State Teachers Retirement System cut its position in Kimberly-Clark Co. (NYSE:KMB) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,174 shares of the company’s stock after selling 2,257 shares during the quarter. New York State Teachers Retirement System’s holdings in Kimberly-Clark were worth $40,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMB. My Legacy Advisors LLC purchased a new position in shares of Kimberly-Clark in the second quarter worth $230,000. &PARTNERS purchased a new position in shares of Kimberly-Clark in the second quarter worth $1,080,000. Joule Financial LLC purchased a new position in shares of Kimberly-Clark in the second quarter worth $203,000. American National Bank increased its stake in shares of Kimberly-Clark by 17.0% in the second quarter. American National Bank now owns 1,569 shares of the company’s stock worth $217,000 after buying an additional 228 shares during the period. Finally, Eads & Heald Wealth Management increased its stake in shares of Kimberly-Clark by 6.2% in the second quarter. Eads & Heald Wealth Management now owns 5,239 shares of the company’s stock worth $724,000 after buying an additional 307 shares during the period. 76.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KMB has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Kimberly-Clark from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 30th. BNP Paribas assumed coverage on shares of Kimberly-Clark in a research report on Monday, June 24th. They set a “neutral” rating and a $146.00 price objective on the stock. Piper Sandler boosted their target price on shares of Kimberly-Clark from $167.00 to $174.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of Kimberly-Clark from $123.00 to $135.00 and gave the company an “underweight” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $165.00 target price on shares of Kimberly-Clark in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Kimberly-Clark has an average rating of “Hold” and a consensus target price of $145.67.

Insiders Place Their Bets

In related news, insider Jeffrey P. Melucci sold 37,699 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $141.42, for a total value of $5,331,392.58. Following the completion of the transaction, the insider now directly owns 19,935 shares of the company’s stock, valued at approximately $2,819,207.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffrey P. Melucci sold 37,699 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $141.42, for a total transaction of $5,331,392.58. Following the transaction, the insider now directly owns 19,935 shares in the company, valued at $2,819,207.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gonzalo Uribe sold 1,780 shares of Kimberly-Clark stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $140.84, for a total transaction of $250,695.20. Following the sale, the insider now owns 7,377 shares in the company, valued at $1,038,976.68. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Kimberly-Clark Stock Down 1.3 %

NYSE KMB traded down $1.86 during trading hours on Friday, hitting $142.74. 531,294 shares of the company were exchanged, compared to its average volume of 2,153,684. The company has a 50 day moving average of $140.30 and a two-hundred day moving average of $132.54. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 5.59. Kimberly-Clark Co. has a 52-week low of $116.32 and a 52-week high of $145.68. The firm has a market cap of $48.06 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.95 and a beta of 0.37.

Kimberly-Clark (NYSE:KMB) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.25. Kimberly-Clark had a return on equity of 223.55% and a net margin of 11.28%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period last year, the firm earned $1.65 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Kimberly-Clark Co. will post 7.21 earnings per share for the current year.

Kimberly-Clark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 6th will be given a dividend of $1.22 per share. The ex-dividend date is Friday, September 6th. This represents a $4.88 dividend on an annualized basis and a yield of 3.42%. Kimberly-Clark’s payout ratio is 89.71%.

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.