Sumitomo Mitsui Financial Group Inc. cut its holdings in shares of Kimberly Clark Corp (NYSE:KMB) by 4.7% in the third quarter, Holdings Channel reports. The institutional investor owned 23,576 shares of the company’s stock after selling 1,175 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Kimberly Clark were worth $2,679,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Northern Trust Corp raised its stake in shares of Kimberly Clark by 3.5% in the second quarter. Northern Trust Corp now owns 5,443,511 shares of the company’s stock valued at $573,419,000 after purchasing an additional 182,806 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Kimberly Clark by 6.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,135,206 shares of the company’s stock valued at $583,564,000 after purchasing an additional 325,606 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Kimberly Clark by 1.8% in the second quarter. Federated Investors Inc. PA now owns 3,230,516 shares of the company’s stock valued at $340,302,000 after purchasing an additional 56,053 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Kimberly Clark by 121.8% in the second quarter. American Century Companies Inc. now owns 2,478,731 shares of the company’s stock valued at $261,110,000 after purchasing an additional 1,361,325 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Kimberly Clark by 293.0% in the third quarter. LSV Asset Management now owns 2,413,025 shares of the company’s stock valued at $274,216,000 after purchasing an additional 1,798,953 shares in the last quarter. Institutional investors own 73.38% of the company’s stock.
Shares of NYSE:KMB opened at $111.58 on Monday. Kimberly Clark Corp has a fifty-two week low of $97.10 and a fifty-two week high of $123.77. The firm has a market capitalization of $38.53 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 2.70 and a beta of 0.67. The company has a current ratio of 0.75, a quick ratio of 0.49 and a debt-to-equity ratio of 51.24.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 7th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Thursday, December 6th. Kimberly Clark’s payout ratio is presently 64.21%.
A number of brokerages recently commented on KMB. ValuEngine upgraded Kimberly Clark from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Societe Generale lowered Kimberly Clark from a “buy” rating to a “hold” rating and cut their target price for the company from $124.00 to $116.00 in a research note on Wednesday, August 15th. JPMorgan Chase & Co. upgraded Kimberly Clark from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $90.00 to $86.00 in a research report on Thursday, August 16th. Zacks Investment Research upgraded Kimberly Clark from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Barclays set a $104.00 price target on Kimberly Clark and gave the company a “hold” rating in a research report on Monday, October 1st. Five analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $105.64.
In other news, SVP Jeffrey P. Melucci sold 1,000 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $111.18, for a total transaction of $111,180.00. Following the sale, the senior vice president now owns 4,132 shares in the company, valued at $459,395.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is currently owned by corporate insiders.
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Kimberly Clark Profile
Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care, consumer tissue, and professional products worldwide. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Kotex, U by Kotex, Intimus, Depend, Plenitud, Poise, and other brand names.
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