Conning Inc. Trims Stake in Kimberly-Clark Corporation $KMB

Key Points

• Conning Inc. sharply reduced its Kimberly-Clark stake by 95.9% in the fourth quarter, selling 241,412 shares and leaving it with 10,336 shares worth about $1.04 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% from a year earlier.
• The company also declared a quarterly dividend of $1.28 per share, payable July 2, implying an annualized yield of about 5.3%.

Conning Inc. decreased its stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 95.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,336 shares of the company's stock after selling 241,412 shares during the period. Conning Inc.'s holdings in Kimberly-Clark were worth $1,043,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in KMB. Citigroup Inc. lifted its holdings in shares of Kimberly-Clark by 3.7% during the 3rd quarter. Citigroup Inc. now owns 399,630 shares of the company's stock worth $49,690,000 after acquiring an additional 14,386 shares during the period. Jain Global LLC purchased a new stake in Kimberly-Clark in the third quarter valued at approximately $11,973,000. AE Wealth Management LLC increased its position in Kimberly-Clark by 7.0% during the third quarter. AE Wealth Management LLC now owns 160,531 shares of the company's stock worth $19,960,000 after purchasing an additional 10,528 shares during the last quarter. Truist Financial Corp increased its position in Kimberly-Clark by 9.6% during the third quarter. Truist Financial Corp now owns 158,417 shares of the company's stock worth $19,698,000 after purchasing an additional 13,939 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Kimberly-Clark by 13.7% during the fourth quarter. Nordea Investment Management AB now owns 2,774,290 shares of the company's stock worth $281,258,000 after purchasing an additional 334,598 shares during the period. 76.29% of the stock is owned by institutional investors and hedge funds.

Kimberly-Clark Stock Down 0.8%

Shares of Kimberly-Clark stock opened at $95.91 on Friday. Kimberly-Clark Corporation has a twelve month low of $92.42 and a twelve month high of $144.30. The stock has a market cap of $31.84 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 4.34 and a beta of 0.29. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 3.38. The company has a fifty day moving average price of $98.21 and a 200 day moving average price of $102.15.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.93 by $0.04. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the company posted $1.93 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Kimberly-Clark Corporation will post 7.48 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be issued a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Friday, June 5th. Kimberly-Clark's dividend payout ratio is currently 80.38%.

More Kimberly-Clark News

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

• Positive Sentiment: Kimberly-Clark announced a regular quarterly dividend of $1.28 per share, payable July 2 to shareholders of record on June 5, reinforcing its appeal as a dividend income stock. Kimberly-Clark Declares Quarterly Dividend
• Positive Sentiment: Bank of America reiterated a Buy rating and set a $120 price target, saying Kimberly-Clark’s Kenvue-related deal could create long-term value despite near-term integration risks. Kimberly-Clark positioned for long-term value creation following Kenvue deal, says Bank of America
• Positive Sentiment: The company’s recent Q1 beat, ongoing dividend, and new product launch (Kleenex Snap & Go) suggest operational momentum and product innovation are still supporting the investment case. What Kimberly-Clark (KMB)'s Q1 Beat, New Kleenex Launch and Leadership Shift Means For Shareholders
• Neutral Sentiment: At the annual meeting, shareholders backed the board, executive pay, and auditor, which reduces governance uncertainty but is unlikely to be a major stock driver. Kimberly-Clark Shareholders Back Board, Pay and Auditor
• Neutral Sentiment: One article highlighted that KMB has fallen sharply over the past year and raised valuation questions, but it did not present a new catalyst beyond the existing downtrend. Has Kimberly-Clark (KMB) Fallen Too Far After Its 26.5% One-Year Share Price Decline?
• Neutral Sentiment: Jim Cramer’s comments about the Kenvue transaction were broadly upbeat, but they were opinion-based and less likely to move the stock on their own. Jim Cramer Says Kimberly-Clark and Kenvue Merger “Will Produce Tremendous Returns”

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KMB. Piper Sandler lowered their price objective on shares of Kimberly-Clark from $133.00 to $114.00 and set an "overweight" rating for the company in a research note on Friday, March 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Kimberly-Clark in a report on Friday, March 27th. UBS Group boosted their price target on Kimberly-Clark from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Bank of America cut their price objective on Kimberly-Clark from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, April 10th. Finally, Wells Fargo & Company reduced their price objective 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. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $114.93.

Insider Buying and Selling

In other news, insider Katy Chen sold 1,596 shares of the company's 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 directly owned 8,362 shares in the company, valued at approximately $797,233.08. This represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Andrew Scribner sold 4,095 shares of the firm'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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 7,096 shares of company stock valued at $689,687. 0.75% of the stock is owned by company insiders.

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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