OLD National Bancorp IN Lowers Stock Holdings in Kimberly-Clark Co. $KMB

OLD National Bancorp IN cut its stake in shares of Kimberly-Clark Co. (NYSE:KMB) by 10.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,028 shares of the company’s stock after selling 1,045 shares during the period. OLD National Bancorp IN’s holdings in Kimberly-Clark were worth $1,164,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Pacific Financial purchased a new position in Kimberly-Clark in the 1st quarter valued at $26,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of Kimberly-Clark by 176.1% in the first quarter. Financial Network Wealth Advisors LLC now owns 196 shares of the company’s stock valued at $28,000 after acquiring an additional 125 shares in the last quarter. Investment Research & Advisory Group Inc. acquired a new position in shares of Kimberly-Clark during the second quarter worth about $25,000. Elequin Capital LP purchased a new position in Kimberly-Clark during the first quarter worth about $36,000. Finally, AlphaCore Capital LLC acquired a new stake in Kimberly-Clark in the first quarter valued at about $37,000. 76.29% of the stock is owned by institutional investors and hedge funds.

Kimberly-Clark Stock Performance

NYSE:KMB opened at $120.54 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 7.05. The company has a market capitalization of $39.99 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 4.46 and a beta of 0.30. The firm has a 50-day moving average price of $128.72 and a two-hundred day moving average price of $132.51. Kimberly-Clark Co. has a twelve month low of $120.45 and a twelve month high of $150.45.

Kimberly-Clark (NYSE:KMB) last released its quarterly earnings results on Friday, August 1st. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.67 by $0.25. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the business earned $1.96 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts expect that Kimberly-Clark Co. will post 7.5 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, September 5th. Kimberly-Clark’s payout ratio is 69.42%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KMB. JPMorgan Chase & Co. upgraded Kimberly-Clark from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $125.00 to $138.00 in a research report on Monday, August 4th. UBS Group dropped their price objective on Kimberly-Clark from $146.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday, July 17th. Barclays reduced their target price on Kimberly-Clark from $139.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Evercore ISI lowered their price target on shares of Kimberly-Clark from $155.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, September 22nd. Finally, Piper Sandler decreased their price objective on shares of Kimberly-Clark from $149.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $140.50.

Kimberly-Clark Profile

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products in the United States. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The company’s Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Sweety, Kotex, U by Kotex, Intimus, Thinx, Poise, Depend, Plenitud, Softex, and other brand names.