Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 737,861 shares of the company’s stock after selling 31,602 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kimberly-Clark were worth $71,890,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Kimberly-Clark in the second quarter worth $223,668,000. NewEdge Advisors LLC boosted its stake in Kimberly-Clark by 3.5% in the second quarter. NewEdge Advisors LLC now owns 595,464 shares of the company’s stock valued at $65,364,000 after acquiring an additional 20,300 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Kimberly-Clark during the second quarter valued at $34,869,000. Bank of America Corp DE lifted its position in shares of Kimberly-Clark by 3.3% during the 2nd quarter. Bank of America Corp DE now owns 6,881,641 shares of the company’s stock valued at $755,398,000 after buying an additional 219,742 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Kimberly-Clark by 612.5% during the 1st quarter. Fifth Third Bancorp now owns 205,588 shares of the company’s stock valued at $19,833,000 after buying an additional 176,733 shares during the last quarter. Hedge funds and other institutional investors own 76.29% of the company’s stock.
Trending Headlines about Kimberly-Clark
Here are the key news stories impacting Kimberly-Clark this week:
- Positive Sentiment: Kimberly-Clark completed its acquisition of Kenvue, adding a broad consumer-health portfolio that includes 10 billion-dollar brands. The company reiterated expected annual run-rate synergies of $2.1 billion, offering potential for longer-term growth and cost savings. Read More.
- Neutral Sentiment: The acquisition is now closed, shifting investor focus from deal completion to integration, synergy delivery, and the combined company’s financial performance. KMB’s Q3 results are due November 5. Read More.
- Negative Sentiment: The transaction is substantial: its enterprise value was reported at nearly $49 billion. Kimberly-Clark also announced exchange offers involving up to $7 billion of new company notes, raising investor focus on financing and the added debt burden as it integrates Kenvue. Read More. Read More.
- Negative Sentiment: Analyst previews warn that weak consumer spending and rising costs could weigh on Q3 results, although product innovation and efficiency gains may provide some support. That uncertainty may limit enthusiasm ahead of the earnings report. Read More.
Analyst Ratings Changes
KMB has been the subject of several recent research reports. Rothschild & Co Redburn reduced their target price on shares of Kimberly-Clark from $138.00 to $129.00 and set a “buy” rating for the company in a research note on Friday, October 9th. TD Cowen reduced their price target on Kimberly-Clark from $104.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, October 13th. Barclays decreased their price objective on Kimberly-Clark from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, September 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Kimberly-Clark in a report on Monday, October 26th. Finally, DA Davidson lifted their price target on Kimberly-Clark from $106.00 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $110.67.
Get Our Latest Stock Analysis on Kimberly-Clark
Kimberly-Clark Stock Down 3.5%
Shares of NASDAQ:KMB opened at $104.46 on Wednesday. Kimberly-Clark Corporation has a 1 year low of $92.42 and a 1 year high of $116.82. The company has a market cap of $34.74 billion, a PE ratio of 17.77, a P/E/G ratio of 5.85 and a beta of 0.25. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.91 and a quick ratio of 0.69. The stock’s 50-day moving average is $102.66 and its 200 day moving average is $103.09.
Kimberly-Clark (NASDAQ:KMB – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.21). The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Kimberly-Clark had a return on equity of 143.92% and a net margin of 11.79%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 EPS. Sell-side analysts anticipate that Kimberly-Clark Corporation will post 6.83 EPS for the current year.
Kimberly-Clark Company Profile
Kimberly-Clark Corporation (NASDAQ:KMB) is a global consumer products company that develops and markets personal care, tissue and professional hygiene products. Its portfolio includes products for babies and children, feminine care, adult care, family care and workplace hygiene.
The company’s well-known brands include Huggies diapers and wipes, Kleenex facial tissue, Cottonelle bathroom tissue, Scott toilet paper and paper towels, Kotex feminine care products, and Depend, Poise and GoodNites products.
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