Louisiana State Employees Retirement System Invests $1.63 Million in Kimberly-Clark Corporation $KMB

Louisiana State Employees Retirement System acquired a new stake in Kimberly-Clark Corporation (NASDAQ:KMB) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 16,900 shares of the company’s stock, valued at approximately $1,630,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of Kimberly-Clark by 74.1% during the 4th quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock worth $851,000 after purchasing an additional 2,765 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Kimberly-Clark by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company’s stock valued at $46,923,000 after buying an additional 24,698 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Kimberly-Clark by 44.3% during the second quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company’s stock worth $36,698,000 after buying an additional 87,455 shares during the last quarter. Main Street Financial Solutions LLC increased its holdings in Kimberly-Clark by 11.0% during the second quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock worth $424,000 after buying an additional 326 shares during the last quarter. Finally, HUB Investment Partners LLC raised its position in Kimberly-Clark by 20.5% during the second quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock worth $1,372,000 after acquiring an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Katy Chen sold 1,596 shares of Kimberly-Clark stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the completion of the sale, the insider directly owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. This trade represents a 16.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Andrew Scribner sold 4,095 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total value of $401,310.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 7,096 shares of company stock worth $689,687. 0.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KMB shares. Bank of America decreased their price objective on shares of Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Wells Fargo & Company cut their target price on shares of Kimberly-Clark from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Piper Sandler lifted their price target on Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. UBS Group boosted their price target on Kimberly-Clark from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $115.43.

Kimberly-Clark Price Performance

Shares of KMB opened at $111.44 on Thursday. The firm has a market capitalization of $36.99 billion, a PE ratio of 17.49, a PEG ratio of 4.92 and a beta of 0.26. The company’s 50-day moving average is $100.05 and its 200-day moving average is $100.94. Kimberly-Clark Corporation has a fifty-two week low of $92.42 and a fifty-two week high of $137.46. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.77 and a quick ratio of 0.55.

Kimberly-Clark (NASDAQ:KMB) last announced its earnings results on Tuesday, April 28th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.93 by $0.04. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. Kimberly-Clark’s revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that Kimberly-Clark Corporation will post 7.48 EPS for the current year.

Kimberly-Clark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be given a $1.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.12 annualized dividend and a dividend yield of 4.6%. Kimberly-Clark’s dividend payout ratio is presently 80.38%.

Kimberly-Clark Company Profile

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.