Associated Banc Corp Decreases Stock Holdings in Kimberly-Clark Co. (NYSE:KMB)

Key Points

• Associated Banc Corp has reduced its stake in Kimberly-Clark Co. by 1.1%, with ownership of 452,675 shares following the sale of 4,848 shares.
• Kimberly-Clark reported a quarterly earnings of $1.92 per share, surpassing the consensus estimate of $1.67.
• The company recently declared a quarterly dividend of $1.26 per share, representing an annualized yield of 3.8%.

Associated Banc Corp reduced its holdings in Kimberly-Clark Co. (NYSE:KMB - Free Report) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 452,675 shares of the company's stock after selling 4,848 shares during the quarter. Kimberly-Clark comprises 2.0% of Associated Banc Corp's investment portfolio, making the stock its 10th largest position. Associated Banc Corp owned approximately 0.14% of Kimberly-Clark worth $64,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ABC Arbitrage SA purchased a new stake in Kimberly-Clark in the first quarter worth $1,227,000. Cary Street Partners Investment Advisory LLC lifted its position in Kimberly-Clark by 69.7% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 331 shares of the company's stock valued at $47,000 after acquiring an additional 136 shares during the period. Levin Capital Strategies L.P. lifted its holdings in shares of Kimberly-Clark by 23.5% during the first quarter. Levin Capital Strategies L.P. now owns 21,705 shares of the company's stock valued at $3,087,000 after purchasing an additional 4,137 shares during the last quarter. Commonwealth Retirement Investments LLC boosted its position in shares of Kimberly-Clark by 2.4% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 14,465 shares of the company's stock worth $2,057,000 after purchasing an additional 344 shares in the last quarter. Finally, Cary Street Partners Financial LLC boosted its position in shares of Kimberly-Clark by 52.9% in the 1st quarter. Cary Street Partners Financial LLC now owns 48,248 shares of the company's stock worth $6,862,000 after purchasing an additional 16,702 shares in the last quarter. Institutional investors own 76.29% of the company's stock.

Analysts Set New Price Targets

KMB has been the topic of a number of analyst reports. Piper Sandler began coverage on shares of Kimberly-Clark in a research note on Friday, July 18th. They issued an "overweight" rating and a $144.00 price target on the stock. UBS Group cut their target price on Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Royal Bank Of Canada decreased their price target on Kimberly-Clark from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Evercore ISI lowered their price objective on shares of Kimberly-Clark from $168.00 to $155.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut Kimberly-Clark from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kimberly-Clark currently has an average rating of "Hold" and a consensus price target of $142.70.

Kimberly-Clark Stock Performance

Shares of KMB stock traded up $0.09 during mid-day trading on Thursday, reaching $136.77. 2,473,235 shares of the company's stock traded hands, compared to its average volume of 2,338,815. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.54 and a current ratio of 0.80. The firm has a market capitalization of $45.38 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 4.46 and a beta of 0.33. Kimberly-Clark Co. has a 12 month low of $124.10 and a 12 month high of $150.45. The firm has a 50 day moving average price of $131.10 and a two-hundred day moving average price of $134.73.

Kimberly-Clark (NYSE:KMB - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.25. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.85 billion. Kimberly-Clark had a return on equity of 201.43% and a net margin of 12.69%. Kimberly-Clark's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.96 earnings per share. On average, research analysts forecast that Kimberly-Clark Co. will post 7.5 EPS for the current year.

Kimberly-Clark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 5th. Kimberly-Clark's dividend payout ratio (DPR) is presently 69.42%.

About Kimberly-Clark

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products in the United States. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The company's Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Sweety, Kotex, U by Kotex, Intimus, Thinx, Poise, Depend, Plenitud, Softex, and other brand names.