Baypointe Partners LLC Sells 90,000 Shares of Kimberly-Clark Corporation $KMB

Key Points

• Baypointe Partners cut its Kimberly-Clark position by 90% in the second quarter, selling 90,000 shares and retaining 10,000 shares worth approximately $1.1 million.
• Analyst sentiment remains mostly neutral: Kimberly-Clark has an average rating of “Hold” and an average price target of $117.93, despite several firms raising their targets.
• Kimberly-Clark reported quarterly EPS of $1.80, below the $2.01 consensus estimate, while revenue reached $4.19 billion. The company also declared a quarterly dividend of $1.28 per share, representing a 4.7% yield.

Baypointe Partners LLC lowered its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 90.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,000 shares of the company's stock after selling 90,000 shares during the period. Kimberly-Clark comprises approximately 2.6% of Baypointe Partners LLC's holdings, making the stock its 13th largest holding. Baypointe Partners LLC's holdings in Kimberly-Clark were worth $1,098,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Kimberly-Clark in the 2nd quarter valued at about $3,547,915,000. Wellington Management Group LLP boosted its stake in shares of Kimberly-Clark by 26,997.7% during the fourth quarter. Wellington Management Group LLP now owns 7,368,407 shares of the company's stock valued at $743,399,000 after purchasing an additional 7,341,215 shares in the last quarter. Thornburg Investment Management Inc. purchased a new position in Kimberly-Clark during the second quarter valued at approximately $632,373,000. Norges Bank purchased a new position in Kimberly-Clark during the fourth quarter valued at approximately $521,184,000. Finally, Bank of New York Mellon Corp bought a new position in Kimberly-Clark in the second quarter worth approximately $239,612,000. 76.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KMB. Wells Fargo & Company upped their target price on Kimberly-Clark from $100.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Freedom Capital raised Kimberly-Clark from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Barclays upped their price objective on Kimberly-Clark from $101.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. TD Cowen lifted their target price on Kimberly-Clark from $96.00 to $104.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Finally, UBS Group boosted their target price on shares of Kimberly-Clark from $115.00 to $116.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. One equities research 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 given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $117.93.

Kimberly-Clark Stock Down 1.2%

Shares of KMB stock opened at $107.95 on Friday. The stock's fifty day moving average price is $109.92 and its 200 day moving average price is $103.72. Kimberly-Clark Corporation has a 1-year low of $92.42 and a 1-year high of $131.53. The company has a market cap of $35.90 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 4.57 and a beta of 0.25. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.91 and a quick ratio of 0.69.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.21). The business had revenue of $4.19 billion during 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 company's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. On average, research analysts expect that Kimberly-Clark Corporation will post 7.43 earnings per share for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently disclosed 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 dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 4th. Kimberly-Clark's dividend payout ratio (DPR) is presently 87.07%.

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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