Advisors Capital Management LLC Cuts Holdings in Kimberly-Clark Co. $KMB

Advisors Capital Management LLC decreased its stake in shares of Kimberly-Clark Co. (NYSE:KMB) by 21.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,951 shares of the company’s stock after selling 1,342 shares during the quarter. Advisors Capital Management LLC’s holdings in Kimberly-Clark were worth $704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KMB. First Pacific Financial acquired a new position in shares of Kimberly-Clark during the 1st quarter worth about $26,000. Financial Network Wealth Advisors LLC boosted its position in shares of Kimberly-Clark by 176.1% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 196 shares of the company’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Kimberly-Clark during the 1st quarter worth about $36,000. Rossby Financial LCC acquired a new position in shares of Kimberly-Clark during the 1st quarter worth about $37,000. Finally, AlphaCore Capital LLC acquired a new position in shares of Kimberly-Clark during the 1st quarter worth about $37,000. 76.29% of the stock is owned by institutional investors and hedge funds.

Kimberly-Clark Stock Down 1.1%

Shares of NYSE KMB opened at $127.99 on Friday. The stock has a market cap of $42.46 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 4.46 and a beta of 0.32. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 7.05. Kimberly-Clark Co. has a 52-week low of $124.10 and a 52-week high of $150.45. The business has a 50-day moving average price of $130.33 and a 200 day moving average price of $134.58.

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

Kimberly-Clark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. Kimberly-Clark’s dividend payout ratio (DPR) is presently 69.42%.

Analyst Ratings Changes

KMB has been the subject of several analyst reports. UBS Group lowered their price objective on Kimberly-Clark from $146.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised Kimberly-Clark from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $125.00 to $138.00 in a research report on Monday, August 4th. Barclays upped their target price on Kimberly-Clark from $134.00 to $139.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Finally, Piper Sandler started coverage on Kimberly-Clark in a research report on Friday, July 18th. They issued an “overweight” rating and a $144.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $142.70.

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.