Kimberly-Clark Corporation $KMB Shares Sold by Sawgrass Asset Management LLC

by · The Cerbat Gem

Sawgrass Asset Management LLC trimmed its holdings in Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) by 18.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,141 shares of the company’s stock after selling 9,298 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Kimberly-Clark were worth $5,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in Kimberly-Clark by 3.6% during the third quarter. CIBC Asset Management Inc now owns 199,791 shares of the company’s stock valued at $24,842,000 after purchasing an additional 6,998 shares during the last quarter. Sagespring Wealth Partners LLC increased its holdings in shares of Kimberly-Clark by 39.5% in the third quarter. Sagespring Wealth Partners LLC now owns 5,479 shares of the company’s stock valued at $681,000 after buying an additional 1,550 shares in the last quarter. PFG Investments LLC lifted its position in shares of Kimberly-Clark by 1.8% during the 3rd quarter. PFG Investments LLC now owns 10,560 shares of the company’s stock valued at $1,313,000 after acquiring an additional 182 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Kimberly-Clark by 3.5% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,585 shares of the company’s stock worth $321,000 after acquiring an additional 87 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Kimberly-Clark by 57.5% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 357,797 shares of the company’s stock worth $44,488,000 after acquiring an additional 130,558 shares during the last quarter. Institutional investors own 76.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on KMB shares. TD Cowen decreased their target price on shares of Kimberly-Clark from $112.00 to $105.00 and set a “hold” rating for the company in a report on Thursday, January 8th. Citigroup decreased their price target on shares of Kimberly-Clark from $95.00 to $90.00 and set a “sell” rating for the company in a report on Wednesday, January 14th. JPMorgan Chase & Co. increased their target price on shares of Kimberly-Clark from $127.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Morgan Stanley lowered their price target on shares of Kimberly-Clark from $144.00 to $125.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 4th. Finally, Piper Sandler dropped their price target on shares of Kimberly-Clark from $149.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Kimberly-Clark has a consensus rating of “Hold” and an average target price of $118.33.

Read Our Latest Analysis on KMB

Kimberly-Clark Stock Performance

KMB opened at $102.23 on Friday. The company has a debt-to-equity ratio of 4.41, a quick ratio of 0.56 and a current ratio of 0.77. The company has a market cap of $33.93 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 3.92 and a beta of 0.26. The stock has a 50-day moving average of $102.19 and a 200-day moving average of $116.40. Kimberly-Clark Corporation has a 52-week low of $96.26 and a 52-week high of $150.45.

Kimberly-Clark (NASDAQ:KMB – Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.37. Kimberly-Clark had a return on equity of 183.11% and a net margin of 10.89%.The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the company earned $1.83 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts forecast that Kimberly-Clark Corporation will post 7.5 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were paid a $1.26 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.04 dividend on an annualized basis and a yield of 4.9%. Kimberly-Clark’s dividend payout ratio (DPR) is presently 85.28%.

Kimberly-Clark Profile

(Free Report)

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.

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