Kimberly-Clark Corporation $KMB Shares Sold by Destination Wealth Management

Destination Wealth Management decreased its holdings in Kimberly-Clark Corporation (NASDAQ:KMB) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,223 shares of the company’s stock after selling 5,526 shares during the quarter. Destination Wealth Management’s holdings in Kimberly-Clark were worth $4,563,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. raised its stake in Kimberly-Clark by 3.7% during the third quarter. Citigroup Inc. now owns 399,630 shares of the company’s stock valued at $49,690,000 after buying an additional 14,386 shares in the last quarter. Jain Global LLC acquired a new stake in Kimberly-Clark during the third quarter valued at approximately $11,973,000. Westpac Banking Corp raised its stake in Kimberly-Clark by 25.0% during the fourth quarter. Westpac Banking Corp now owns 54,135 shares of the company’s stock valued at $5,462,000 after buying an additional 10,811 shares in the last quarter. Nordea Investment Management AB raised its stake 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 valued at $281,258,000 after buying an additional 334,598 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its stake in Kimberly-Clark by 37.9% during the third quarter. Jefferies Financial Group Inc. now owns 93,076 shares of the company’s stock valued at $11,573,000 after buying an additional 25,576 shares in the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Katy Chen sold 1,596 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the transaction, the insider directly owned 8,362 shares of the company’s stock, valued at $797,233.08. This represents a 16.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 that occurred on Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total value of $401,310.00. The SEC filing for this sale provides additional information. Insiders sold a total of 7,096 shares of company stock valued at $689,687 over the last three months. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

KMB has been the topic of several research reports. UBS Group upped their price objective on Kimberly-Clark from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Kimberly-Clark in a research report on Friday, March 27th. Piper Sandler dropped their price target on Kimberly-Clark from $133.00 to $114.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Zacks Research cut Kimberly-Clark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $114.93.

Kimberly-Clark Stock Up 0.7%

Shares of Kimberly-Clark stock opened at $102.29 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 3.38. The business’s 50 day simple moving average is $97.79 and its 200-day simple moving average is $100.96. The stock has a market capitalization of $33.95 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 4.59 and a beta of 0.28. Kimberly-Clark Corporation has a twelve month low of $92.42 and a twelve month high of $137.46.

Kimberly-Clark (NASDAQ:KMB) 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 business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 EPS. Equities research analysts forecast that Kimberly-Clark Corporation will post 7.48 earnings per share for the current year.

Kimberly-Clark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 5th will be issued a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, June 5th. Kimberly-Clark’s dividend payout ratio is 80.38%.

Kimberly-Clark Company 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.