Twin Tree Management LP lowered its stake in Kimberly Clark Corp (NYSE:KMB) by 76.7% during the third quarter, HoldingsChannel.com reports. The fund owned 2,283 shares of the company’s stock after selling 7,526 shares during the quarter. Twin Tree Management LP’s holdings in Kimberly Clark were worth $259,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in KMB. Massachusetts Financial Services Co. MA grew its stake in Kimberly Clark by 96.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,809,600 shares of the company’s stock valued at $506,642,000 after acquiring an additional 2,365,565 shares during the period. Macquarie Group Ltd. grew its stake in Kimberly Clark by 1,402.1% in the 2nd quarter. Macquarie Group Ltd. now owns 2,182,802 shares of the company’s stock valued at $229,937,000 after acquiring an additional 2,037,488 shares during the period. LSV Asset Management grew its stake in Kimberly Clark by 293.0% in the 3rd quarter. LSV Asset Management now owns 2,413,025 shares of the company’s stock valued at $274,216,000 after acquiring an additional 1,798,953 shares during the period. American Century Companies Inc. grew its stake in Kimberly Clark by 121.8% in the 2nd quarter. American Century Companies Inc. now owns 2,478,731 shares of the company’s stock valued at $261,110,000 after acquiring an additional 1,361,325 shares during the period. Finally, Beutel Goodman & Co Ltd. acquired a new stake in Kimberly Clark during the 3rd quarter worth $65,232,000. 73.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KMB opened at $110.67 on Friday. The company has a debt-to-equity ratio of 51.24, a quick ratio of 0.49 and a current ratio of 0.75. The firm has a market cap of $38.33 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.68 and a beta of 0.67. Kimberly Clark Corp has a 52-week low of $97.10 and a 52-week high of $123.77.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 7th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.61%. Kimberly Clark’s payout ratio is 64.21%.
Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Kimberly Clark from $93.00 to $95.00 and gave the stock a “sell” rating in a research note on Wednesday, October 24th. Morgan Stanley set a $100.00 target price on shares of Kimberly Clark and gave the stock a “sell” rating in a research note on Tuesday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $100.00 target price on shares of Kimberly Clark in a research note on Monday, October 22nd. Wells Fargo & Co lifted their target price on shares of Kimberly Clark from $97.00 to $105.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 17th. Finally, Deutsche Bank cut shares of Kimberly Clark from a “hold” rating to a “sell” rating and set a $99.00 target price on the stock. in a research note on Wednesday, October 10th. Five analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $105.64.
In other news, SVP Jeffrey P. Melucci sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $111.18, for a total transaction of $111,180.00. Following the transaction, the senior vice president now owns 4,132 shares of the company’s stock, valued at approximately $459,395.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.
Kimberly Clark Company 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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