OVERSEA CHINESE BANKING Corp Ltd Sells 5,832 Shares of Kimberly-Clark Co. $KMB

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of Kimberly-Clark Co. (NYSE:KMB) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 285,332 shares of the company’s stock after selling 5,832 shares during the quarter. Kimberly-Clark makes up approximately 1.0% of OVERSEA CHINESE BANKING Corp Ltd’s portfolio, making the stock its 20th largest holding. OVERSEA CHINESE BANKING Corp Ltd owned 0.09% of Kimberly-Clark worth $36,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its position in Kimberly-Clark by 60.0% during the second quarter. Envestnet Asset Management Inc. now owns 555,584 shares of the company’s stock valued at $71,626,000 after acquiring an additional 208,335 shares in the last quarter. Chilton Capital Management LLC grew its holdings in Kimberly-Clark by 11.2% during the second quarter. Chilton Capital Management LLC now owns 8,122 shares of the company’s stock valued at $1,047,000 after purchasing an additional 817 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in Kimberly-Clark by 2.4% during the second quarter. Wealthfront Advisers LLC now owns 46,892 shares of the company’s stock valued at $6,045,000 after purchasing an additional 1,081 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Kimberly-Clark during the second quarter valued at approximately $304,000. Finally, Brighton Jones LLC grew its holdings in Kimberly-Clark by 5.7% during the second quarter. Brighton Jones LLC now owns 6,453 shares of the company’s stock valued at $832,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 76.29% of the company’s stock.

Kimberly-Clark Trading Up 0.1%

Shares of Kimberly-Clark stock opened at $118.93 on Monday. The company’s fifty day simple moving average is $125.24 and its 200-day simple moving average is $130.67. The company has a market cap of $39.46 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 4.46 and a beta of 0.30. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 7.05. Kimberly-Clark Co. has a 1 year low of $117.49 and a 1 year high of $150.45.

Kimberly-Clark (NYSE:KMB) last posted its quarterly earnings results on Friday, August 1st. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.25. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company earned $1.96 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that Kimberly-Clark Co. will post 7.5 EPS for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, September 5th. This represents a $5.04 dividend on an annualized basis and a yield of 4.2%. Kimberly-Clark’s payout ratio is currently 69.42%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KMB. UBS Group lowered their price target on Kimberly-Clark from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Citigroup lowered their price target on Kimberly-Clark from $118.00 to $113.00 and set a “sell” rating on the stock in a report on Thursday, October 9th. Evercore ISI lowered their price target on Kimberly-Clark from $155.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, September 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Kimberly-Clark from $144.00 to $127.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Finally, Piper Sandler lowered their price objective on shares of Kimberly-Clark from $149.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $137.00.

About Kimberly-Clark

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products in the United States. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The company’s Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Sweety, Kotex, U by Kotex, Intimus, Thinx, Poise, Depend, Plenitud, Softex, and other brand names.