Bank of Nova Scotia Trims Stock Position in Kimberly-Clark Co. (NYSE:KMB)

Key Points

• Bank of Nova Scotia significantly reduced its holdings in Kimberly-Clark Co. by 74.9%, leaving them with 51,080 shares valued at approximately $7.27 million.
• Several institutional investors increased their stakes in Kimberly-Clark, with OVERSEA CHINESE BANKING Corp Ltd raising its holdings by an impressive 270.2% during the first quarter.
• Kimberly-Clark declared a quarterly dividend of $1.26 per share, representing an annualized dividend yield of 3.8%, with a payout ratio currently at 69.42%.

Bank of Nova Scotia lessened its holdings in Kimberly-Clark Co. (NYSE:KMB - Free Report) by 74.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,080 shares of the company's stock after selling 152,805 shares during the period. Bank of Nova Scotia's holdings in Kimberly-Clark were worth $7,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Elevate Capital Advisors LLC grew its holdings in shares of Kimberly-Clark by 46.4% during the first quarter. Elevate Capital Advisors LLC now owns 12,444 shares of the company's stock worth $1,770,000 after buying an additional 3,944 shares in the last quarter. Unigestion Holding SA grew its holdings in shares of Kimberly-Clark by 8.2% during the first quarter. Unigestion Holding SA now owns 127,623 shares of the company's stock worth $18,145,000 after buying an additional 9,643 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Kimberly-Clark by 270.2% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 984,695 shares of the company's stock worth $140,043,000 after buying an additional 718,720 shares in the last quarter. Farmers Trust Co. grew its holdings in shares of Kimberly-Clark by 108.6% during the first quarter. Farmers Trust Co. now owns 45,088 shares of the company's stock worth $6,412,000 after buying an additional 23,472 shares in the last quarter. Finally, United Community Bank boosted its position in shares of Kimberly-Clark by 340.0% in the first quarter. United Community Bank now owns 18,518 shares of the company's stock worth $2,634,000 after acquiring an additional 14,309 shares during the last quarter. Hedge funds and other institutional investors own 76.29% of the company's stock.

Kimberly-Clark Stock Up 1.9%

KMB opened at $133.14 on Tuesday. Kimberly-Clark Co. has a one year low of $124.10 and a one year high of $150.45. 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 stock's fifty day moving average is $131.40 and its 200-day moving average is $134.72. The company has a market capitalization of $44.18 billion, a PE ratio of 17.63, a P/E/G ratio of 4.46 and a beta of 0.33.

Kimberly-Clark (NYSE:KMB - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.25. Kimberly-Clark had a return on equity of 201.43% and a net margin of 12.69%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 EPS. On average, equities analysts predict that Kimberly-Clark Co. will post 7.5 EPS for the current fiscal year.

Kimberly-Clark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors 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 yield of 3.8%. The ex-dividend date of this dividend is Friday, September 5th. Kimberly-Clark's payout ratio is presently 69.42%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KMB. JPMorgan Chase & Co. raised shares of Kimberly-Clark from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $125.00 to $138.00 in a research report on Monday. Piper Sandler began coverage on shares of Kimberly-Clark in a research report on Friday, July 18th. They issued an "overweight" rating and a $144.00 target price on the stock. UBS Group decreased their target price on shares of Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Royal Bank Of Canada decreased their target price on shares of Kimberly-Clark from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of Kimberly-Clark from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Kimberly-Clark has an average rating of "Hold" and an average target price of $142.70.

Kimberly-Clark Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.