Bank of New York Mellon Corp Has $215.89 Million Position in Kimberly-Clark Corporation $KMB

Key Points

• Bank of New York Mellon increased its Kimberly-Clark stake by 0.9% in the first quarter, bringing its holdings to 2.24 million shares valued at about $215.9 million.
• Kimberly-Clark’s latest quarterly results beat expectations, with EPS of $1.97 versus the $1.93 estimate and revenue of $4.16 billion slightly above forecasts.
• Analysts remain cautious overall: the stock has a Hold consensus rating and an average price target of $116.79, while the company also pays a quarterly dividend yielding about 4.7%.

Bank of New York Mellon Corp boosted its holdings in Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,237,904 shares of the company's stock after acquiring an additional 18,989 shares during the period. Bank of New York Mellon Corp owned 0.67% of Kimberly-Clark worth $215,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Kimberly-Clark by 74.1% during the fourth quarter. Brighton Jones LLC now owns 6,494 shares of the company's stock worth $851,000 after purchasing an additional 2,765 shares during the period. The Manufacturers Life Insurance Company increased its position in Kimberly-Clark by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company's stock worth $46,923,000 after buying an additional 24,698 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Kimberly-Clark by 44.3% during the second quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company's stock worth $36,698,000 after buying an additional 87,455 shares in the last quarter. Main Street Financial Solutions LLC lifted its holdings in shares of Kimberly-Clark by 11.0% during the second quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company's stock worth $424,000 after buying an additional 326 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its position in shares of Kimberly-Clark by 20.5% in the second quarter. HUB Investment Partners LLC now owns 10,639 shares of the company's stock valued at $1,372,000 after acquiring an additional 1,811 shares during the period. Institutional investors and hedge funds own 76.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Kimberly-Clark in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kimberly-Clark from $110.00 to $109.00 and set a "hold" rating for the company in a report on Monday, March 30th. Bank of America decreased their target price on shares of Kimberly-Clark from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. Wells Fargo & Company raised their target price on shares of Kimberly-Clark from $100.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Finally, UBS Group lifted their price target on shares of Kimberly-Clark from $106.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Kimberly-Clark currently has a consensus rating of "Hold" and an average price target of $116.79.

Kimberly-Clark Stock Down 0.6%

KMB stock opened at $108.35 on Friday. Kimberly-Clark Corporation has a 52 week low of $92.42 and a 52 week high of $137.46. The business has a 50-day simple moving average of $103.19 and a 200 day simple moving average of $101.74. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 3.38. The company has a market cap of $35.97 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 4.83 and a beta of 0.26.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.04. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.09 billion. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. Sell-side analysts anticipate that Kimberly-Clark Corporation will post 7.47 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were paid a dividend of $1.28 per share. The ex-dividend date was Friday, June 5th. This represents a $5.12 annualized dividend and a yield of 4.7%. Kimberly-Clark's dividend payout ratio is presently 80.38%.

Insiders Place Their Bets

In other Kimberly-Clark news, VP Andrew Scribner sold 4,095 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total value of $401,310.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Katy Chen sold 1,596 shares of Kimberly-Clark stock in a transaction on Monday, May 4th. The shares were sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the transaction, the insider owned 8,362 shares in the company, valued at approximately $797,233.08. The trade was a 16.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 7,096 shares of company stock worth $689,687. Company insiders own 0.75% of the company's stock.

Kimberly-Clark Profile

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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