Illinois Municipal Retirement Fund lowered its holdings in Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) by 31.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,670 shares of the company’s stock after selling 45,632 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Kimberly-Clark were worth $9,712,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in KMB. Ally Financial Inc. purchased a new position in shares of Kimberly-Clark during the 4th quarter valued at approximately $1,009,000. Westpac Banking Corp lifted its stake in shares of Kimberly-Clark by 25.0% in the 4th quarter. Westpac Banking Corp now owns 54,135 shares of the company’s stock valued at $5,462,000 after purchasing an additional 10,811 shares during the period. Nordea Investment Management AB boosted its holdings in Kimberly-Clark by 13.7% during the fourth quarter. Nordea Investment Management AB now owns 2,774,290 shares of the company’s stock worth $281,258,000 after buying an additional 334,598 shares in the last quarter. Oddo BHF Asset Management Sas grew its position in Kimberly-Clark by 29.6% during the fourth quarter. Oddo BHF Asset Management Sas now owns 61,795 shares of the company’s stock valued at $6,234,000 after buying an additional 14,115 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Kimberly-Clark by 50.4% during the fourth 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 during the period. 76.29% of the stock is owned by hedge funds and other institutional investors.
Kimberly-Clark Stock Performance
KMB opened at $108.99 on Friday. The firm has a market capitalization of $36.18 billion, a PE ratio of 17.11, a PEG ratio of 4.74 and a beta of 0.26. Kimberly-Clark Corporation has a twelve month low of $92.42 and a twelve month high of $137.46. The firm’s 50-day moving average price is $102.99 and its 200 day moving average price is $101.69. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 3.38.
Kimberly-Clark Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were issued a $1.28 dividend. This represents a $5.12 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, June 5th. Kimberly-Clark’s payout ratio is 80.38%.
Analyst Ratings Changes
A number of research firms have weighed in on KMB. UBS Group lifted their price objective on shares of Kimberly-Clark from $106.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday. Barclays dropped their target price on Kimberly-Clark from $105.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Piper Sandler lifted their price target on Kimberly-Clark from $115.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reduced their price target on Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating for the company in a report on Monday, March 30th. Finally, Bank of America dropped their price objective on Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Kimberly-Clark currently has an average rating of “Hold” and a consensus price target of $116.79.
Check Out Our Latest Report on Kimberly-Clark
Insider Transactions at Kimberly-Clark
In other news, VP Andrew Scribner sold 4,095 shares of the business’s stock in a transaction that occurred 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 SEC, which is available through the SEC website. Also, insider Katy Chen sold 1,596 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the sale, 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. Insiders sold 7,096 shares of company stock worth $689,687 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.
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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