Lazard Asset Management LLC lowered its holdings in Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) by 45.5% in the first quarter, Holdings Channel reports. The firm owned 130,407 shares of the company’s stock after selling 108,761 shares during the quarter. Lazard Asset Management LLC’s holdings in Kimberly-Clark were worth $12,580,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMB. Greatmark Investment Partners Inc. lifted its position in Kimberly-Clark by 2.9% during the 4th quarter. Greatmark Investment Partners Inc. now owns 3,533 shares of the company’s stock worth $356,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Kimberly-Clark by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,999 shares of the company’s stock valued at $3,834,000 after acquiring an additional 100 shares in the last quarter. New Mexico Educational Retirement Board grew its holdings in shares of Kimberly-Clark by 0.7% in the 4th quarter. New Mexico Educational Retirement Board now owns 15,093 shares of the company’s stock valued at $1,523,000 after acquiring an additional 100 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Kimberly-Clark by 18.3% in the first quarter. AdvisorNet Financial Inc now owns 665 shares of the company’s stock valued at $64,000 after acquiring an additional 103 shares during the last quarter. Finally, Core Wealth Partners LLC raised its holdings in Kimberly-Clark by 2.6% during the fourth quarter. Core Wealth Partners LLC now owns 4,352 shares of the company’s stock worth $439,000 after acquiring an additional 112 shares in the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Weiss Ratings raised Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Bank of America lowered their price target on Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Wells Fargo & Company upped their price objective on Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Barclays increased their price objective on Kimberly-Clark from $101.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, UBS Group raised their target price on shares of Kimberly-Clark from $106.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Kimberly-Clark currently has a consensus rating of “Hold” and a consensus price target of $117.93.
Kimberly-Clark Trading Up 0.1%
Shares of NASDAQ:KMB opened at $113.21 on Thursday. Kimberly-Clark Corporation has a 52-week low of $92.42 and a 52-week high of $137.46. The company has a market capitalization of $37.58 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 5.07 and a beta of 0.26. The company has a 50-day simple moving average of $105.33 and a 200 day simple moving average of $102.33. 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 (NASDAQ:KMB – Get Free Report) last announced its quarterly 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. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.09 billion. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 earnings per share. Sell-side analysts forecast that Kimberly-Clark Corporation will post 7.47 earnings per share for the current year.
Kimberly-Clark Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th were paid a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, June 5th. Kimberly-Clark’s payout ratio is currently 80.38%.
Insider Activity at Kimberly-Clark
In related news, insider Katy Chen sold 1,596 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the transaction, the insider directly owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. The trade was a 16.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Andrew Scribner sold 4,095 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.
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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