Peloton Wealth Strategists bought a new stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,695 shares of the company’s stock, valued at approximately $2,391,000.
A number of other hedge funds have also recently modified their holdings of KMB. Norges Bank bought a new stake in shares of Kimberly-Clark during the 4th quarter valued at $521,184,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Kimberly-Clark by 50.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,839,572 shares of the company’s stock valued at $790,934,000 after buying an additional 2,628,206 shares in the last quarter. State Street Corp boosted its holdings in shares of Kimberly-Clark by 5.0% during the 3rd quarter. State Street Corp now owns 20,830,890 shares of the company’s stock valued at $2,615,382,000 after buying an additional 997,397 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Kimberly-Clark by 331.6% during the 3rd quarter. Marshall Wace LLP now owns 1,107,640 shares of the company’s stock valued at $137,724,000 after buying an additional 851,024 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Kimberly-Clark by 582.1% during the 4th quarter. Renaissance Technologies LLC now owns 851,200 shares of the company’s stock valued at $85,878,000 after buying an additional 726,400 shares in the last quarter. Institutional investors own 76.29% of the company’s stock.
Insider Transactions at Kimberly-Clark
In other Kimberly-Clark news, VP Andrew Scribner sold 4,095 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total value of $401,310.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katy Chen sold 1,596 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the transaction, the insider directly owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. This trade represents a 16.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 7,096 shares of company stock valued at $689,687. 0.75% of the stock is owned by insiders.
Kimberly-Clark Stock Performance
Kimberly-Clark (NASDAQ:KMB – Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the firm earned $1.93 EPS. Kimberly-Clark’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that Kimberly-Clark Corporation will post 7.48 EPS for the current fiscal year.
Kimberly-Clark Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be given a $1.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.12 dividend on an annualized basis and a yield of 4.9%. Kimberly-Clark’s payout ratio is 80.38%.
Wall Street Analyst Weigh In
KMB has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Bank of America dropped their price target on shares of Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Barclays dropped their price target on shares of Kimberly-Clark from $105.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Piper Sandler dropped their price target on shares of Kimberly-Clark from $133.00 to $114.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Finally, Wells Fargo & Company dropped their price target on shares of Kimberly-Clark from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $114.93.
Check Out Our Latest Stock Analysis on Kimberly-Clark
About Kimberly-Clark
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.
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