Norges Bank Takes $521.18 Million Position in Kimberly-Clark Corporation $KMB

Norges Bank purchased a new stake in Kimberly-Clark Corporation (NASDAQ:KMB) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,165,862 shares of the company’s stock, valued at approximately $521,184,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KMB. Brighton Jones LLC grew its stake in shares of Kimberly-Clark by 74.1% in the fourth quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock worth $851,000 after acquiring an additional 2,765 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Kimberly-Clark by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company’s stock worth $46,923,000 after acquiring an additional 24,698 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Kimberly-Clark by 44.3% in the second quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company’s stock worth $36,698,000 after acquiring an additional 87,455 shares during the last quarter. Main Street Financial Solutions LLC grew its stake in shares of Kimberly-Clark by 11.0% in the second quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock worth $424,000 after acquiring an additional 326 shares during the last quarter. Finally, HUB Investment Partners LLC grew its stake in shares of Kimberly-Clark by 20.5% in the second quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock worth $1,372,000 after acquiring an additional 1,811 shares during the last quarter. 76.29% of the stock is owned by institutional investors and hedge funds.

Kimberly-Clark Price Performance

Shares of NASDAQ KMB opened at $97.60 on Monday. The firm’s 50-day simple moving average is $97.69 and its 200 day simple moving average is $101.29. The company has a market cap of $32.40 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 4.38 and a beta of 0.28. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 3.38. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $144.30.

Kimberly-Clark (NASDAQ:KMB) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.04. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the prior year, the company earned $1.93 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts expect that Kimberly-Clark Corporation will post 7.48 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be issued a dividend of $1.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.12 annualized dividend and a yield of 5.2%. Kimberly-Clark’s dividend payout ratio is currently 80.38%.

Insider Buying and Selling at Kimberly-Clark

In other Kimberly-Clark news, insider Katy Chen sold 1,596 shares of the company’s stock in a transaction 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 owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. This represents a 16.03% decrease in their position. The transaction was disclosed in a 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 company’s stock in a transaction on Wednesday, May 6th. The stock was 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. In the last ninety days, insiders have sold 7,096 shares of company stock worth $689,687. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group lifted their target price on Kimberly-Clark from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Bank of America decreased 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. Zacks Research downgraded shares of Kimberly-Clark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company reduced their target price 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. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Kimberly-Clark in a research note on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $114.93.

Kimberly-Clark Profile

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.