Kimberly-Clark Corporation $KMB Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Kimberly-Clark stake by 29.1% in the first quarter, acquiring 1.5 million additional shares and bringing its total holdings to 6.66 million shares, worth approximately $642.7 million.
• Kimberly-Clark beat quarterly earnings and revenue expectations, reporting $1.97 EPS on $4.16 billion in revenue, while revenue grew 2.7% year over year.
• The company maintains a quarterly dividend of $1.28, equivalent to $5.12 annually and a 4.7% yield. Analysts remain cautious overall, assigning the stock a consensus “Hold” rating with an average price target of $117.93.

Bank of America Corp DE increased its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,661,899 shares of the company's stock after purchasing an additional 1,503,018 shares during the quarter. Bank of America Corp DE owned approximately 2.01% of Kimberly-Clark worth $642,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Godfrey Financial Associates Inc. purchased a new position in shares of Kimberly-Clark in the 4th quarter valued at $25,000. Darwin Wealth Management LLC purchased a new position in Kimberly-Clark during the 2nd quarter worth approximately $27,000. CrossGen Wealth LLC purchased a new position in Kimberly-Clark during the 4th quarter worth approximately $27,000. Eagle Bay Advisors LLC acquired a new position in Kimberly-Clark during the fourth quarter worth approximately $28,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Kimberly-Clark by 96.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 285 shares of the company's stock worth $29,000 after acquiring an additional 140 shares during the last quarter. 76.29% of the stock is owned by institutional investors and hedge funds.

Kimberly-Clark Stock Down 0.8%

Shares of NASDAQ:KMB opened at $109.31 on Friday. The stock's 50-day moving average price is $105.76 and its two-hundred day moving average price is $102.46. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 3.38. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $137.46. The firm has a market cap of $36.28 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 4.94 and a beta of 0.26.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.04. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the prior year, the company earned $1.93 EPS. The company's revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that Kimberly-Clark Corporation will post 7.47 EPS for the current year.

Kimberly-Clark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were given a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, June 5th. Kimberly-Clark's dividend payout ratio is presently 80.38%.

Insider Activity

In other Kimberly-Clark news, VP Andrew Scribner sold 4,095 shares of Kimberly-Clark stock in a transaction that occurred on Wednesday, May 6th. The stock was 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 SEC, which is available through this link. Also, insider Katy Chen sold 1,596 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $95.34, for a total transaction of $152,162.64. Following the completion of the sale, the insider owned 8,362 shares in the company, valued at approximately $797,233.08. This trade represents a 16.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KMB. Barclays increased their price objective on Kimberly-Clark from $101.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Wells Fargo & Company upped their price target on Kimberly-Clark from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 8th. Bank of America decreased their price target on Kimberly-Clark from $130.00 to $120.00 and set a "buy" rating for the company in a report on Friday, April 10th. Piper Sandler boosted their price objective on shares of Kimberly-Clark from $115.00 to $121.00 and gave the company an "overweight" rating in a research note on Wednesday, June 17th. Finally, UBS Group upped their price objective on shares of Kimberly-Clark from $106.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $117.93.

Kimberly-Clark Company 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.

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