First Citizens Bank & Trust Co. decreased its holdings in shares of Kimberly Clark Corp (NYSE:KMB) by 4.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,231 shares of the company’s stock after selling 524 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Kimberly Clark were worth $1,511,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Kimberly Clark by 47.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,372,857 shares of the company’s stock worth $618,104,000 after purchasing an additional 1,406,339 shares in the last quarter. FIL Ltd raised its stake in shares of Kimberly Clark by 37.3% during the 2nd quarter. FIL Ltd now owns 2,492,618 shares of the company’s stock worth $352,332,000 after buying an additional 677,173 shares during the period. AQR Capital Management LLC raised its stake in shares of Kimberly Clark by 10.3% during the 1st quarter. AQR Capital Management LLC now owns 2,381,800 shares of the company’s stock worth $304,560,000 after buying an additional 221,466 shares during the period. California Public Employees Retirement System raised its stake in shares of Kimberly Clark by 4.5% during the 2nd quarter. California Public Employees Retirement System now owns 2,242,370 shares of the company’s stock worth $316,959,000 after buying an additional 97,403 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Kimberly Clark by 7.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,872,012 shares of the company’s stock worth $264,609,000 after buying an additional 134,712 shares during the period. 71.39% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on KMB. Morgan Stanley increased their price objective on Kimberly Clark from $146.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Berenberg Bank assumed coverage on shares of Kimberly Clark in a report on Friday. They issued a “buy” rating and a $181.00 price objective on the stock. TheStreet upgraded shares of Kimberly Clark from a “c+” rating to an “a-” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. downgraded shares of Kimberly Clark from an “overweight” rating to a “neutral” rating and set a $163.00 target price on the stock. in a research note on Friday. They noted that the move was a valuation call. Finally, Jefferies Financial Group upped their target price on shares of Kimberly Clark from $181.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $157.88.
Kimberly Clark (NYSE:KMB) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.40. Kimberly Clark had a net margin of 13.58% and a return on equity of 1,319.56%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the firm posted $1.67 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities research analysts expect that Kimberly Clark Corp will post 7.7 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, September 3rd. Kimberly Clark’s payout ratio is 62.12%.
In other news, insider Aaron Powell sold 8,663 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $151.38, for a total value of $1,311,404.94. Following the completion of the transaction, the insider now owns 8,707 shares in the company, valued at approximately $1,318,065.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kimberly K. Underhill sold 11,715 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $148.00, for a total transaction of $1,733,820.00. Following the sale, the insider now owns 44,773 shares of the company’s stock, valued at approximately $6,626,404. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
Kimberly Clark Company Profile
Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care, consumer tissue, and professional products worldwide. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Kotex, U by Kotex, Intimus, Depend, Plenitud, Poise, and other brand names.
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