Cove Private Wealth LLC Reduces Stock Position in Kimberly-Clark Co. (NYSE:KMB)

Cove Private Wealth LLC decreased its holdings in Kimberly-Clark Co. (NYSE:KMB) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,925 shares of the company’s stock after selling 500 shares during the period. Cove Private Wealth LLC’s holdings in Kimberly-Clark were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Valeo Financial Advisors LLC grew its stake in Kimberly-Clark by 3.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 16,336 shares of the company’s stock worth $2,113,000 after acquiring an additional 549 shares in the last quarter. Norden Group LLC purchased a new position in Kimberly-Clark during the 1st quarter worth $8,549,000. Core Wealth Partners LLC raised its position in Kimberly-Clark by 3.6% during the 1st quarter. Core Wealth Partners LLC now owns 2,547 shares of the company’s stock valued at $329,000 after purchasing an additional 88 shares in the last quarter. Retirement Guys Formula LLC lifted its holdings in shares of Kimberly-Clark by 37.7% in the 1st quarter. Retirement Guys Formula LLC now owns 5,258 shares of the company’s stock worth $680,000 after buying an additional 1,439 shares during the period. Finally, Hartline Investment Corp increased its stake in shares of Kimberly-Clark by 8.3% during the first quarter. Hartline Investment Corp now owns 2,744 shares of the company’s stock valued at $355,000 after buying an additional 210 shares during the period. 76.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Kimberly-Clark in a research report on Wednesday, October 23rd. Piper Sandler boosted their target price on Kimberly-Clark from $167.00 to $174.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. lowered their price target on Kimberly-Clark from $142.00 to $140.00 and set an “underweight” rating for the company in a report on Wednesday, October 23rd. Argus raised shares of Kimberly-Clark to a “hold” rating in a report on Friday, July 26th. Finally, TD Cowen assumed coverage on Kimberly-Clark in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $161.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Kimberly-Clark presently has a consensus rating of “Hold” and a consensus target price of $149.93.

Kimberly-Clark Stock Performance

NYSE:KMB traded down $0.40 during trading hours on Wednesday, reaching $134.11. The company had a trading volume of 221,964 shares, compared to its average volume of 2,109,117. The firm has a market cap of $45.16 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.39. Kimberly-Clark Co. has a 1-year low of $117.67 and a 1-year high of $149.30. The business’s 50 day moving average price is $142.59 and its 200-day moving average price is $139.01. The company has a debt-to-equity ratio of 4.77, a current ratio of 0.83 and a quick ratio of 0.58.

Kimberly-Clark (NYSE:KMB) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.14. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $5.06 billion. Kimberly-Clark had a net margin of 12.97% and a return on equity of 198.59%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.74 earnings per share. Research analysts forecast that Kimberly-Clark Co. will post 7.25 EPS for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 6th were given a dividend of $1.22 per share. The ex-dividend date was Friday, September 6th. This represents a $4.88 dividend on an annualized basis and a yield of 3.64%. Kimberly-Clark’s dividend payout ratio is currently 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.