Bank of New York Mellon Corp Has $223.87 Million Stock Holdings in Kimberly-Clark Corporation $KMB

Key Points

• Bank of New York Mellon Corp cut its Kimberly-Clark stake by 20% in the fourth quarter, selling 555,908 shares and ending with 2.22 million shares valued at about $223.9 million.
• Kimberly-Clark reported better-than-expected quarterly results, with EPS of $1.97 versus estimates of $1.93 and revenue of $4.16 billion, up 2.7% year over year.
• The company also announced a quarterly dividend of $1.28 per share, implying an annualized yield of about 5.2%, while analysts currently rate the stock mostly Hold with an average target price of $114.93.

Bank of New York Mellon Corp lowered its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,218,915 shares of the company's stock after selling 555,908 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Kimberly-Clark worth $223,866,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. bought a new stake in Kimberly-Clark during the fourth quarter worth $25,000. Darwin Wealth Management LLC purchased a new position in shares of Kimberly-Clark in the second quarter valued at $27,000. Eagle Bay Advisors LLC purchased a new position in Kimberly-Clark during the fourth quarter worth about $28,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Kimberly-Clark by 96.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 285 shares of the company's stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Entrust Financial LLC purchased a new position in shares of Kimberly-Clark in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 76.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KMB. Piper Sandler lowered their target price on Kimberly-Clark from $133.00 to $114.00 and set an "overweight" rating for the company in a research note on Friday, March 13th. Wells Fargo & Company cut their price target on Kimberly-Clark from $110.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Zacks Research downgraded Kimberly-Clark from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 3rd. UBS Group increased their target price on Kimberly-Clark from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, Barclays lowered their price target on Kimberly-Clark from $105.00 to $99.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. Four 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $114.93.

Kimberly-Clark News Roundup

Here are the key news stories impacting Kimberly-Clark this week:

• Positive Sentiment: Jim Cramer highlighted Kimberly-Clark as an attractive staple stock, saying he likes it partly because of its pending merger with Kenvue, which may have helped boost investor interest in the name. Article
• Positive Sentiment: Investors are also focusing on Kimberly-Clark’s recent conference presentation and its upcoming dividend schedule, which can attract income-oriented buyers and support the stock during periods of market volatility. Article
• Positive Sentiment: The broader move into consumer staples also appears to be helping, as investors rotate toward more defensive sectors amid sharp weakness in the overall market. Article
• Neutral Sentiment: Kimberly-Clark’s recent conference appearance and prior earnings update reinforced steady fundamentals, but there was no single new operating headline driving the move. Article

Insiders Place Their Bets

In related news, VP Andrew Scribner sold 4,095 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $401,310.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Katy Chen sold 1,596 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $95.34, for a total transaction of $152,162.64. Following the transaction, the insider owned 8,362 shares of the company's stock, valued at $797,233.08. This represents a 16.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 7,096 shares of company stock valued at $689,687 over the last 90 days. 0.75% of the stock is currently owned by insiders.

Kimberly-Clark Price Performance

Shares of KMB opened at $99.04 on Friday. The firm has a market capitalization of $32.88 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 4.24 and a beta of 0.28. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.77 and a quick ratio of 0.55. Kimberly-Clark Corporation has a 1-year low of $92.42 and a 1-year high of $137.46. The company's fifty day moving average price is $97.47 and its 200-day moving average price is $101.06.

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 for the quarter, beating analysts' consensus estimates of $1.93 by $0.04. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.09 billion. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 earnings per share. On average, equities research analysts predict that Kimberly-Clark Corporation will post 7.48 EPS for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 5th will be given a dividend of $1.28 per share. The ex-dividend date is Friday, June 5th. This represents a $5.12 dividend on an annualized basis and a yield of 5.2%. Kimberly-Clark's payout ratio is currently 80.38%.

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.

Want to see what other hedge funds are holding KMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimberly-Clark Corporation (NASDAQ:KMB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.