Edge Asset Management Inc. reduced its stake in Kimberly-Clark Corp. (NYSE:KMB) by 31.3% during the second quarter, Holdings Channel reports. The firm owned 64,654 shares of the company’s stock after selling 29,524 shares during the period. Edge Asset Management Inc.’s holdings in Kimberly-Clark Corp. were worth $8,889,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in 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. Arizona State Retirement System boosted its position in Kimberly-Clark Corp. by 1.3% in the first quarter. Arizona State Retirement System now owns 188,528 shares of the company’s stock worth $25,359,000 after buying an additional 2,500 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Kimberly-Clark Corp. by 0.4% in the first quarter. Nuveen Asset Management LLC now owns 33,890 shares of the company’s stock worth $4,559,000 after buying an additional 122 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its position in Kimberly-Clark Corp. by 78.3% in the second quarter. Douglass Winthrop Advisors LLC now owns 16,795 shares of the company’s stock worth $1,831,000 after buying an additional 7,375 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its position in Kimberly-Clark Corp. by 75.0% in the first quarter. Spirit of America Management Corp NY now owns 7,000 shares of the company’s stock worth $942,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 68.37% of the company’s stock.
Kimberly-Clark Corp. (NYSE:KMB) traded down 0.0323% during mid-day trading on Wednesday, hitting $123.4301. The company’s stock had a trading volume of 514,109 shares. The firm’s 50-day moving average is $127.18 and its 200-day moving average is $130.86. The company has a market cap of $44.39 billion, a P/E ratio of 22.8871 and a beta of 0.35. Kimberly-Clark Corp. has a 12-month low of $106.66 and a 12-month high of $138.87.
Kimberly-Clark Corp. (NYSE:KMB) last announced its quarterly earnings results on Monday, July 25th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.05. The firm earned $4.60 billion during the quarter, compared to analyst estimates of $4.56 billion. Kimberly-Clark Corp. had a return on equity of 815.72% and a net margin of 10.70%. Kimberly-Clark Corp.’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. Analysts predict that Kimberly-Clark Corp. will post $6.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Friday, September 9th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.98%. Kimberly-Clark Corp.’s payout ratio is 68.40%.
A number of research analysts have recently commented on KMB shares. Deutsche Bank AG restated a “hold” rating and issued a $132.00 target price (up previously from $130.00) on shares of Kimberly-Clark Corp. in a research note on Sunday, July 24th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $154.00 price objective on shares of Kimberly-Clark Corp. in a research report on Monday, September 12th. Zacks Investment Research lowered Kimberly-Clark Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Citigroup Inc. raised their price objective on Kimberly-Clark Corp. from $135.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, B. Riley reaffirmed a “neutral” rating and set a $124.00 price objective on shares of Kimberly-Clark Corp. in a research report on Sunday, July 31st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $136.63.
In related news, SVP Thomas J. Mielke sold 11,946 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $127.37, for a total value of $1,521,562.02. Following the completion of the sale, the senior vice president now owns 33,557 shares in the company, valued at $4,274,155.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony J. Palmer sold 3,080 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $130.00, for a total value of $400,400.00. Following the completion of the sale, the insider now owns 5,995 shares of the company’s stock, valued at approximately $779,350. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.
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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