Assenagon Asset Management S.A. Sells 163,661 Shares of Kimberly-Clark Corporation $KMB

Key Points

• Assenagon Asset Management cut its Kimberly-Clark stake by 90% in the second quarter, selling 163,661 shares and retaining 18,228 shares valued at approximately $2.0 million. Institutional investors still own 76.29% of KMB.
• Kimberly-Clark reported quarterly EPS of $1.80, below the $2.01 analyst consensus, while revenue of $4.19 billion also narrowly missed expectations. Analysts forecast full-year EPS of $7.43.
• The company declared a quarterly dividend of $1.28, equivalent to $5.12 annually and a 4.6% yield. Despite mixed analyst views, KMB carries a consensus “Hold” rating with a $117.93 price target.

Assenagon Asset Management S.A. lowered its stake in Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 90.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,228 shares of the company's stock after selling 163,661 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Kimberly-Clark were worth $2,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in KMB. Greatmark Investment Partners Inc. lifted its holdings in Kimberly-Clark by 2.9% during the fourth quarter. Greatmark Investment Partners Inc. now owns 3,533 shares of the company's stock valued at $356,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Kimberly-Clark by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,999 shares of the company's stock worth $3,834,000 after purchasing an additional 100 shares during the period. New Mexico Educational Retirement Board increased its stake in shares of Kimberly-Clark by 0.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 15,093 shares of the company's stock worth $1,523,000 after purchasing an additional 100 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Kimberly-Clark by 18.3% during the 1st quarter. AdvisorNet Financial Inc now owns 665 shares of the company's stock valued at $64,000 after purchasing an additional 103 shares during the period. Finally, Core Wealth Partners LLC raised its position in shares of Kimberly-Clark by 2.6% during the 4th quarter. Core Wealth Partners LLC now owns 4,352 shares of the company's stock valued at $439,000 after purchasing an additional 112 shares during the period. 76.29% of the stock is owned by hedge funds and other institutional investors.

Kimberly-Clark Price Performance

NASDAQ:KMB opened at $110.70 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 3.45. The company has a market capitalization of $36.82 billion, a P/E ratio of 18.83, a P/E/G ratio of 5.18 and a beta of 0.26. Kimberly-Clark Corporation has a 12 month low of $92.42 and a 12 month high of $136.17. The business's 50-day moving average is $107.87 and its 200 day moving average is $103.08.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.21). The firm had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $4.22 billion. Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 EPS. On average, equities research analysts forecast that Kimberly-Clark Corporation will post 7.43 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 4th will be given a $1.28 dividend. This represents a $5.12 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, September 4th. Kimberly-Clark's payout ratio is currently 87.07%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Seaport Research Partners raised shares of Kimberly-Clark to a "buy" rating in a report on Tuesday, August 4th. TD Cowen raised their price target on Kimberly-Clark from $96.00 to $104.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. UBS Group boosted their price objective on Kimberly-Clark from $115.00 to $116.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Piper Sandler upped their price objective on Kimberly-Clark from $115.00 to $121.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 17th. Finally, Freedom Capital raised Kimberly-Clark from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $117.93.

About Kimberly-Clark

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.

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