Westpac Banking Corp Sells 52,083 Shares of Kimberly-Clark Corporation $KMB

Westpac Banking Corp reduced its stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 96.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,052 shares of the company’s stock after selling 52,083 shares during the quarter. Westpac Banking Corp’s holdings in Kimberly-Clark were worth $198,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Oslo Pensjonsforsikring AS bought a new position in Kimberly-Clark in the first quarter worth about $357,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Kimberly-Clark during the 1st quarter worth approximately $80,000. Johnson Financial Group Inc. grew its holdings in shares of Kimberly-Clark by 47.3% during the 1st quarter. Johnson Financial Group Inc. now owns 12,064 shares of the company’s stock worth $1,176,000 after acquiring an additional 3,873 shares during the period. Parallel Advisors LLC raised its position in shares of Kimberly-Clark by 68.1% in the 1st quarter. Parallel Advisors LLC now owns 5,028 shares of the company’s stock worth $485,000 after acquiring an additional 2,037 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Kimberly-Clark by 459.9% in the 1st quarter. KBC Group NV now owns 1,695,768 shares of the company’s stock valued at $163,591,000 after purchasing an additional 1,392,873 shares during the period. 76.29% of the stock is currently owned by institutional investors.

Kimberly-Clark Stock Performance

Kimberly-Clark stock opened at $107.31 on Friday. Kimberly-Clark Corporation has a twelve month low of $92.42 and a twelve month high of $137.46. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 3.38. The company has a market capitalization of $35.62 billion, a P/E ratio of 16.85, a PEG ratio of 4.85 and a beta of 0.26. The stock’s 50 day moving average is $104.11 and its 200 day moving average is $101.94.

Kimberly-Clark (NASDAQ:KMB) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Kimberly-Clark Corporation will post 7.47 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, July 2nd. Stockholders of record on Friday, June 5th were given a $1.28 dividend. This represents a $5.12 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, June 5th. Kimberly-Clark’s payout ratio is currently 80.38%.

Insider Transactions at Kimberly-Clark

In other Kimberly-Clark news, insider Katy Chen sold 1,596 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $95.34, for a total transaction 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. This trade represents a 16.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 that occurred on Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total transaction of $401,310.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,096 shares of company stock worth $689,687. 0.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on KMB. Wells Fargo & Company lifted their price target on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. UBS Group raised their price objective on Kimberly-Clark from $106.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Piper Sandler upped their target price on shares of Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Kimberly-Clark in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $117.93.

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.