DAVENPORT & Co LLC Increases Stake in Kimberly-Clark Co. $KMB

Key Points

• DAVENPORT & Co LLC increased its stake in Kimberly-Clark by 21.8%, acquiring an additional 15,975 shares during the second quarter, bringing its total holdings to 89,097 shares valued at $11.48 million.
• Kimberly-Clark reported earnings of $1.92 per share for the latest quarter, exceeding analysts' expectations, while revenue fell 1.6% year-over-year to $4.16 billion.
• The company declared a quarterly dividend of $1.26 per share, resulting in an annualized dividend yield of 4.2% and a payout ratio of 69.42%.

DAVENPORT & Co LLC lifted its position in Kimberly-Clark Co. (NYSE:KMB - Free Report) by 21.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,097 shares of the company's stock after acquiring an additional 15,975 shares during the quarter. DAVENPORT & Co LLC's holdings in Kimberly-Clark were worth $11,485,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KMB. Strs Ohio purchased a new stake in Kimberly-Clark during the first quarter worth $12,854,000. Elevate Capital Advisors LLC raised its position in shares of Kimberly-Clark by 46.4% in the 1st quarter. Elevate Capital Advisors LLC now owns 12,444 shares of the company's stock worth $1,770,000 after acquiring an additional 3,944 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Kimberly-Clark by 86.8% during the 1st quarter. Citigroup Inc. now owns 509,585 shares of the company's stock worth $72,473,000 after purchasing an additional 236,733 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Kimberly-Clark by 270.2% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 984,695 shares of the company's stock worth $140,043,000 after purchasing an additional 718,720 shares during the last quarter. Finally, United Community Bank boosted its position in Kimberly-Clark by 340.0% during the first quarter. United Community Bank now owns 18,518 shares of the company's stock valued at $2,634,000 after purchasing an additional 14,309 shares in the last quarter. 76.29% of the stock is owned by hedge funds and other institutional investors.

Kimberly-Clark Stock Performance

Shares of KMB opened at $120.54 on Tuesday. 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 has a 50-day moving average of $128.72 and a two-hundred day moving average of $132.51. The stock has a market cap of $39.99 billion, a P/E ratio of 15.97, a P/E/G ratio of 4.46 and a beta of 0.30. Kimberly-Clark Co. has a one year low of $120.45 and a one year high of $150.45.

Kimberly-Clark (NYSE:KMB - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period last year, the business posted $1.96 earnings per share. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts predict that Kimberly-Clark Co. will post 7.5 EPS for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were issued a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, September 5th. Kimberly-Clark's dividend payout ratio is 69.42%.

Analyst Upgrades and Downgrades

KMB has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Kimberly-Clark from $140.00 to $130.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. UBS Group reduced their price objective on shares of Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Piper Sandler lowered their target price on shares of Kimberly-Clark from $149.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday. Evercore ISI cut their price target on shares of Kimberly-Clark from $155.00 to $150.00 and set an "outperform" rating on the stock in a report on Monday, September 22nd. Finally, Barclays decreased their price objective on Kimberly-Clark from $139.00 to $131.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $140.50.

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.

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