Kimberly Clark Corp (KMB) Shares Sold by Patten Group Inc.
Patten Group Inc. cut its holdings in Kimberly Clark Corp (NYSE:KMB) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 64,264 shares of the company’s stock after selling 2,063 shares during the period. Kimberly Clark makes up about 3.1% of Patten Group Inc.’s portfolio, making the stock its 3rd largest holding. Patten Group Inc.’s holdings in Kimberly Clark were worth $7,754,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Raymond James Trust N.A. lifted its position in Kimberly Clark by 4.5% in the 4th quarter. Raymond James Trust N.A. now owns 39,410 shares of the company’s stock valued at $4,755,000 after purchasing an additional 1,699 shares during the last quarter. Fort Pitt Capital Group LLC lifted its position in Kimberly Clark by 17.6% in the 4th quarter. Fort Pitt Capital Group LLC now owns 268,845 shares of the company’s stock valued at $32,439,000 after purchasing an additional 40,224 shares during the last quarter. Harbour Investment Management LLC bought a new stake in Kimberly Clark in the 4th quarter valued at about $2,101,000. Murphy Pohlad Asset Management LLC lifted its position in Kimberly Clark by 11.2% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 11,965 shares of the company’s stock valued at $1,443,000 after purchasing an additional 1,205 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Kimberly Clark by 7.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 66,126 shares of the company’s stock valued at $7,979,000 after purchasing an additional 4,615 shares during the last quarter. Hedge funds and other institutional investors own 71.82% of the company’s stock.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Kimberly Clark from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Bank of America cut their price objective on shares of Kimberly Clark from $123.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 24th. Citigroup downgraded shares of Kimberly Clark from a “neutral” rating to a “sell” rating and set a $113.00 price objective on the stock. in a research report on Monday, December 11th. Deutsche Bank began coverage on shares of Kimberly Clark in a research report on Wednesday, December 13th. They issued a “hold” rating and a $121.00 price objective on the stock. Finally, Wells Fargo & Co dropped their price target on shares of Kimberly Clark from $121.00 to $117.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $126.44.
Kimberly Clark (NYSE:KMB) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.03. The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.61 billion. Kimberly Clark had a net margin of 12.48% and a return on equity of 427.79%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS. sell-side analysts anticipate that Kimberly Clark Corp will post 6.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $4.00 annualized dividend and a dividend yield of 3.59%. This is a boost from Kimberly Clark’s previous quarterly dividend of $0.97. Kimberly Clark’s payout ratio is currently 60.53%.
In other news, insider Kimberly K. Underhill sold 23,158 shares of Kimberly Clark stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $119.77, for a total value of $2,773,633.66. Following the transaction, the insider now owns 31,141 shares of the company’s stock, valued at approximately $3,729,757.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
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Kimberly Clark Profile
Kimberly-Clark Corporation is engaged in the manufacturing and marketing of a range of products made from natural or synthetic fibers. The Company’s segments include Personal Care, Consumer Tissue, K-C Professional and Corporate & Other. The Company’s Personal Care segment offers various solutions and products, such as disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products.
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