Carret Asset Management LLC Sells 255 Shares of Kimberly-Clark Co. $KMB

Carret Asset Management LLC reduced its position in Kimberly-Clark Co. (NYSE:KMB) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,956 shares of the company’s stock after selling 255 shares during the quarter. Carret Asset Management LLC’s holdings in Kimberly-Clark were worth $1,412,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMB. Savvy Advisors Inc. raised its holdings in shares of Kimberly-Clark by 62.7% in the 2nd quarter. Savvy Advisors Inc. now owns 2,470 shares of the company’s stock valued at $318,000 after purchasing an additional 952 shares in the last quarter. Assetmark Inc. raised its stake in Kimberly-Clark by 355.1% in the second quarter. Assetmark Inc. now owns 15,581 shares of the company’s stock worth $2,009,000 after buying an additional 12,157 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in Kimberly-Clark by 5.3% during the second quarter. HBK Sorce Advisory LLC now owns 6,531 shares of the company’s stock worth $842,000 after buying an additional 328 shares during the period. Hantz Financial Services Inc. purchased a new stake in Kimberly-Clark during the second quarter worth $60,000. Finally, Arkadios Wealth Advisors increased its holdings in shares of Kimberly-Clark by 23.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 12,042 shares of the company’s stock valued at $1,552,000 after acquiring an additional 2,252 shares during the period. 76.29% of the stock is currently owned by institutional investors.

Kimberly-Clark Stock Down 3.3%

KMB stock opened at $116.72 on Thursday. The stock has a market capitalization of $38.73 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 4.46 and a beta of 0.30. Kimberly-Clark Co. has a 52 week low of $116.26 and a 52 week high of $150.45. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 7.05. The firm has a 50 day moving average of $124.45 and a 200 day moving average of $130.29.

Kimberly-Clark (NYSE:KMB) last posted its quarterly earnings results on Friday, August 1st. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.25. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the company posted $1.96 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that Kimberly-Clark Co. will post 7.5 earnings per share for the current year.

Kimberly-Clark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were given a dividend of $1.26 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.04 dividend on an annualized basis and a yield of 4.3%. Kimberly-Clark’s payout ratio is currently 69.42%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KMB. Piper Sandler decreased their price objective on Kimberly-Clark from $149.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. Royal Bank Of Canada reissued an “overweight” rating and set a $162.00 price target on shares of Kimberly-Clark in a research report on Tuesday. Wells Fargo & Company cut their price objective on shares of Kimberly-Clark from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. decreased their target price on shares of Kimberly-Clark from $144.00 to $127.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. Finally, Citigroup cut their price target on shares of Kimberly-Clark from $118.00 to $113.00 and set a “sell” rating on the stock in a report on Thursday, October 9th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $137.00.

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.