Mirae Asset Global Investments Co. Ltd. Purchases 7,779 Shares of Kimberly-Clark Co. (NYSE:KMB)

Posted by Defense World Staff on Aug 6th, 2023

Mirae Asset Global Investments Co. Ltd. lifted its stake in Kimberly-Clark Co. (NYSE:KMB – Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,785 shares of the company’s stock after buying an additional 7,779 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Kimberly-Clark were worth $13,125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KMB. Fairfield Bush & CO. bought a new position in shares of Kimberly-Clark in the first quarter worth about $96,000. Sei Investments Co. raised its stake in shares of Kimberly-Clark by 22.2% in the first quarter. Sei Investments Co. now owns 190,867 shares of the company’s stock worth $23,483,000 after buying an additional 34,646 shares during the period. Baird Financial Group Inc. grew its position in shares of Kimberly-Clark by 2.8% during the first quarter. Baird Financial Group Inc. now owns 292,834 shares of the company’s stock worth $36,066,000 after purchasing an additional 7,878 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Kimberly-Clark by 23.9% during the first quarter. Merit Financial Group LLC now owns 4,102 shares of the company’s stock worth $505,000 after purchasing an additional 791 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Kimberly-Clark by 28.7% during the first quarter. NewEdge Advisors LLC now owns 20,180 shares of the company’s stock worth $2,485,000 after purchasing an additional 4,503 shares in the last quarter. Institutional investors own 74.60% of the company’s stock.

Kimberly-Clark Price Performance

Shares of Kimberly-Clark stock opened at $127.77 on Friday. The stock has a market cap of $43.21 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.45 and a beta of 0.39. The company has a debt-to-equity ratio of 12.21, a quick ratio of 0.55 and a current ratio of 0.87. The stock has a 50 day moving average price of $134.91 and a 200-day moving average price of $134.25. Kimberly-Clark Co. has a one year low of $108.74 and a one year high of $147.87.

Kimberly-Clark (NYSE:KMB – Get Free Report) last announced its earnings results on Tuesday, July 25th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.17. Kimberly-Clark had a return on equity of 303.40% and a net margin of 8.07%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the previous year, the business earned $1.34 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts expect that Kimberly-Clark Co. will post 6.43 EPS for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 8th will be paid a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Thursday, September 7th. Kimberly-Clark’s dividend payout ratio is currently 97.32%.

Analysts Set New Price Targets

KMB has been the subject of several research analyst reports. Berenberg Bank increased their target price on Kimberly-Clark from $132.00 to $144.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft increased their target price on Kimberly-Clark from $123.00 to $133.00 in a research report on Wednesday, April 26th. StockNews.com initiated coverage on Kimberly-Clark in a research report on Thursday, May 18th. They set a “buy” rating for the company. TheStreet cut Kimberly-Clark from a “b” rating to a “c+” rating in a research report on Tuesday, July 25th. Finally, Royal Bank of Canada raised their price target on Kimberly-Clark from $118.00 to $125.00 in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $135.33.

Insider Buying and Selling

In related news, insider Jeffrey P. Melucci sold 4,423 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $130.23, for a total transaction of $576,007.29. Following the completion of the sale, the insider now directly owns 28,169 shares of the company’s stock, valued at approximately $3,668,448.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Kimberly-Clark Company Profile

(Free Report)

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products worldwide. 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.