Corebridge Financial Inc. Reduces Position in Kimberly-Clark Co. (NYSE:KMB)

Corebridge Financial Inc. reduced its stake in Kimberly-Clark Co. (NYSE:KMB) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,043 shares of the company’s stock after selling 9,373 shares during the quarter. Corebridge Financial Inc.’s holdings in Kimberly-Clark were worth $14,682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Kimberly-Clark in the fourth quarter worth about $25,000. Marshall Investment Management LLC bought a new position in shares of Kimberly-Clark during the 4th quarter valued at approximately $25,000. Golden State Wealth Management LLC bought a new stake in Kimberly-Clark during the 4th quarter worth approximately $32,000. Strategic Financial Concepts LLC purchased a new position in Kimberly-Clark during the fourth quarter valued at approximately $33,000. Finally, Roxbury Financial LLC bought a new position in shares of Kimberly-Clark in the fourth quarter worth approximately $33,000. 76.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Andrew Drexler sold 2,500 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $140.00, for a total transaction of $350,000.00. Following the transaction, the vice president now directly owns 2,553 shares in the company, valued at approximately $357,420. This represents a 49.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler restated an “overweight” rating and set a $158.00 price objective (down from $161.00) on shares of Kimberly-Clark in a research report on Wednesday, January 29th. Barclays decreased their price target on Kimberly-Clark from $144.00 to $132.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their price objective on Kimberly-Clark from $140.00 to $124.00 and set an “underweight” rating for the company in a research note on Thursday, January 16th. StockNews.com raised Kimberly-Clark from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, Wells Fargo & Company cut their price objective on shares of Kimberly-Clark from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $143.64.

Kimberly-Clark Stock Down 0.6 %

Shares of NYSE:KMB opened at $136.95 on Wednesday. The company has a market cap of $45.42 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 4.46 and a beta of 0.36. Kimberly-Clark Co. has a 12 month low of $123.84 and a 12 month high of $150.45. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 7.05. The company has a 50-day moving average price of $135.30 and a 200 day moving average price of $136.04.

Kimberly-Clark (NYSE:KMB) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. Kimberly-Clark had a return on equity of 201.43% and a net margin of 12.69%. As a group, equities research analysts predict that Kimberly-Clark Co. will post 7.5 earnings per share for the current year.

Kimberly-Clark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.26 per share. This is a boost from Kimberly-Clark’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.04 dividend on an annualized basis and a yield of 3.68%. Kimberly-Clark’s payout ratio is 66.75%.

About Kimberly-Clark

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.