PNC Financial Services Group Inc. Sells 12,626 Shares of Kimberly-Clark Corporation $KMB

PNC Financial Services Group Inc. reduced its stake in Kimberly-Clark Corporation (NASDAQ:KMB) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,076 shares of the company’s stock after selling 12,626 shares during the period. PNC Financial Services Group Inc. owned 0.15% of Kimberly-Clark worth $61,558,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Kimberly-Clark by 14.8% in the second quarter. Vanguard Group Inc. now owns 40,435,476 shares of the company’s stock worth $5,212,942,000 after purchasing an additional 5,200,011 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kimberly-Clark by 1.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,482,657 shares of the company’s stock worth $1,480,344,000 after buying an additional 218,644 shares during the period. Geode Capital Management LLC grew its position in shares of Kimberly-Clark by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 8,254,137 shares of the company’s stock worth $1,065,423,000 after buying an additional 363,865 shares in the last quarter. Invesco Ltd. increased its stake in shares of Kimberly-Clark by 4.6% during the second quarter. Invesco Ltd. now owns 6,097,800 shares of the company’s stock valued at $786,128,000 after buying an additional 270,134 shares during the period. Finally, Norges Bank bought a new stake in shares of Kimberly-Clark in the second quarter valued at about $556,114,000. 76.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KMB. Evercore reiterated an “in-line” rating and set a $120.00 target price (down from $150.00) on shares of Kimberly-Clark in a report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Kimberly-Clark in a research note on Monday, December 29th. Wells Fargo & Company reduced their price objective on shares of Kimberly-Clark from $110.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, January 5th. Barclays set a $102.00 target price on Kimberly-Clark in a research report on Friday, January 16th. Finally, Royal Bank Of Canada reiterated an “overweight” rating and issued a $162.00 price target on shares of Kimberly-Clark in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $118.58.

Insider Buying and Selling at Kimberly-Clark

In related news, VP Andrew Scribner sold 3,049 shares of Kimberly-Clark stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $104.29, for a total value of $317,980.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.64% of the company’s stock.

Kimberly-Clark Price Performance

NASDAQ KMB opened at $109.41 on Tuesday. The firm’s fifty day simple moving average is $101.60 and its two-hundred day simple moving average is $113.59. The firm has a market capitalization of $36.32 billion, a P/E ratio of 18.02, a P/E/G ratio of 4.30 and a beta of 0.26. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 3.97. Kimberly-Clark Corporation has a 12-month low of $96.26 and a 12-month high of $150.45.

Kimberly-Clark (NASDAQ:KMB) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.81 by $0.05. Kimberly-Clark had a return on equity of 170.48% and a net margin of 11.73%.The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the business posted $1.50 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts forecast that Kimberly-Clark Corporation will post 7.5 EPS for the current fiscal year.

Kimberly-Clark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th will be paid a dividend of $1.28 per share. The ex-dividend date is Friday, March 6th. This is a positive change from Kimberly-Clark’s previous quarterly dividend of $1.26. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.7%. Kimberly-Clark’s payout ratio is presently 83.03%.

Kimberly-Clark Company Profile

Kimberly-Clark Corporation is a U.S.-based multinational manufacturer of personal care and consumer tissue products. The company develops, produces and markets a range of consumer brands and professional products, including facial and bathroom tissues, disposable diapers and training pants, feminine care, incontinence products and workplace hygiene solutions. Known for consumer-facing names such as Kleenex, Huggies, Kotex, Cottonelle and Scott, as well as professional offerings under Kimberly-Clark Professional and KleenGuard, the company supplies goods to retail, healthcare and institutional customers.

Founded in 1872 in Neenah, Wisconsin, Kimberly-Clark has expanded from its 19th-century paper-making roots into a global household and workplace products company.