Garrison Financial Corp reduced its stake in Kimberly-Clark Corp. (NYSE:KMB) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 26,211 shares of the company’s stock after selling 943 shares during the period. Kimberly-Clark Corp. comprises about 2.4% of Garrison Financial Corp’s holdings, making the stock its 12th largest position. Garrison Financial Corp’s holdings in Kimberly-Clark Corp. were worth $3,603,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of KMB. Geode Capital Management LLC boosted its stake in shares of Kimberly-Clark Corp. by 1.0% in the first quarter. Geode Capital Management LLC now owns 2,859,320 shares of the company’s stock worth $383,809,000 after buying an additional 28,004 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Kimberly-Clark Corp. by 14.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,930,162 shares of the company’s stock worth $259,626,000 after buying an additional 250,743 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Kimberly-Clark Corp. by 2.2% in the first quarter. Legal & General Group Plc now owns 1,810,646 shares of the company’s stock worth $243,560,000 after buying an additional 38,660 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Kimberly-Clark Corp. by 2.4% in the first quarter. Wellington Management Group LLP now owns 1,556,568 shares of the company’s stock worth $209,375,000 after buying an additional 35,970 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Kimberly-Clark Corp. during the second quarter worth $112,177,000. 68.37% of the stock is owned by institutional investors.
Kimberly-Clark Corp. (NYSE:KMB) traded down 1.09% during midday trading on Monday, hitting $124.76. 1,512,336 shares of the stock traded hands. The firm’s 50 day moving average is $126.21 and its 200-day moving average is $130.36. Kimberly-Clark Corp. has a 12-month low of $111.22 and a 12-month high of $138.87. The stock has a market capitalization of $44.87 billion, a PE ratio of 23.13 and a beta of 0.42.
Kimberly-Clark Corp. (NYSE:KMB) last posted its earnings results on Monday, July 25th. The company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.05. Kimberly-Clark Corp. had a return on equity of 815.72% and a net margin of 10.70%. The company earned $4.60 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that Kimberly-Clark Corp. will post $6.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Friday, September 9th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Wednesday, September 7th. Kimberly-Clark Corp.’s dividend payout ratio is currently 68.40%.
A number of brokerages have recently weighed in on KMB. B. Riley restated a “neutral” rating and issued a $124.00 price objective on shares of Kimberly-Clark Corp. in a research note on Tuesday, July 26th. Zacks Investment Research cut shares of Kimberly-Clark Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Citigroup Inc. upped their target price on shares of Kimberly-Clark Corp. from $135.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $154.00 target price on shares of Kimberly-Clark Corp. in a research note on Monday, September 12th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $132.00 target price (up from $130.00) on shares of Kimberly-Clark Corp. in a research note on Sunday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $136.63.
In related news, Chairman Thomas J. Falk sold 206,445 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $133.40, for a total value of $27,539,763.00. Following the completion of the transaction, the chairman now owns 125,574 shares of the company’s stock, valued at $16,751,571.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Thomas J. Mielke sold 11,946 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $127.37, for a total value of $1,521,562.02. Following the completion of the transaction, the senior vice president now directly owns 33,557 shares of the company’s stock, valued at approximately $4,274,155.09. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.
Kimberly-Clark Corp. Company Profile
Kimberly-Clark Corporation is engaged in the manufacturing and marketing of a range of products made from natural or synthetic fibers. The Company operates through three segments: Personal Care, Consumer Tissue and K-C Professional. The Company’s Personal Care segment offers various solutions and products, such as disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products.
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