OP Asset Management Ltd bought a new position in shares of Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) in the first quarter, Holdings Channel.com reports. The fund bought 33,296 shares of the company’s stock, valued at approximately $3,212,000.
Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its position in shares of Kimberly-Clark by 9.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 181,889 shares of the company’s stock valued at $17,547,000 after buying an additional 15,533 shares during the period. Keudell Morrison Wealth Management grew its position in Kimberly-Clark by 24.5% in the first quarter. Keudell Morrison Wealth Management now owns 3,576 shares of the company’s stock worth $345,000 after acquiring an additional 704 shares during the period. CENTRAL TRUST Co increased its stake in Kimberly-Clark by 5.9% during the first quarter. CENTRAL TRUST Co now owns 48,256 shares of the company’s stock worth $4,656,000 after acquiring an additional 2,683 shares during the last quarter. Cidel Asset Management Inc. raised its position in Kimberly-Clark by 29.8% in the first quarter. Cidel Asset Management Inc. now owns 2,680 shares of the company’s stock valued at $258,000 after purchasing an additional 616 shares during the period. Finally, First City Capital Management Inc. lifted its stake in shares of Kimberly-Clark by 9.1% in the 1st quarter. First City Capital Management Inc. now owns 3,696 shares of the company’s stock valued at $357,000 after purchasing an additional 307 shares during the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.
Kimberly-Clark Stock Up 1.2%
KMB stock opened at $109.37 on Friday. The company’s 50 day moving average price is $99.34 and its 200 day moving average price is $100.79. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.55 and a current ratio of 0.77. Kimberly-Clark Corporation has a fifty-two week low of $92.42 and a fifty-two week high of $137.46. The firm has a market capitalization of $36.30 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 4.90 and a beta of 0.28.
Kimberly-Clark Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors 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 4.7%. Kimberly-Clark’s payout ratio is 80.38%.
Insiders Place Their Bets
In other Kimberly-Clark news, VP Andrew Scribner sold 4,095 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total value of $401,310.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katy Chen sold 1,596 shares of the firm’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 transaction, the insider directly owned 8,362 shares in the company, valued at approximately $797,233.08. The trade was a 16.03% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 7,096 shares of company stock valued at $689,687. 0.75% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research firms have commented on KMB. UBS Group upped their target price on shares of Kimberly-Clark from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Bank of America reduced 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 decreased their price objective on shares of Kimberly-Clark from $105.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating for the company in a report on Monday, March 30th. Finally, Wells Fargo & Company cut their target price on Kimberly-Clark from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.43.
Check Out Our Latest Report on KMB
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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Want to see what other hedge funds are holding KMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimberly-Clark Corporation (NASDAQ:KMB – Free Report).
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