Kimberly-Clark Corporation $KMB Shares Sold by Royal Fund Management LLC

Key Points

• Royal Fund Management cut its Kimberly-Clark stake by 17.8% in the third quarter, selling 12,620 shares and retaining 58,223 shares valued at approximately $5.67 million. Institutional investors and hedge funds collectively own 76.29% of the stock.
• Analysts maintain a generally cautious outlook, with Kimberly-Clark receiving an average “Hold” rating and a consensus price target of $116.50; ratings include one Strong Buy, four Buys, ten Holds and two Sells.
• Kimberly-Clark shares opened at $112.32 after rising 5.3%, while the company’s latest quarterly results missed expectations with EPS of $1.80 versus a $2.01 consensus. The company also pays a quarterly dividend of $1.28, equivalent to a 4.6% annualized yield.

Royal Fund Management LLC reduced its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 17.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,223 shares of the company's stock after selling 12,620 shares during the quarter. Royal Fund Management LLC's holdings in Kimberly-Clark were worth $5,673,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in Kimberly-Clark in the 2nd quarter valued at about $223,668,000. NewEdge Advisors LLC boosted its stake in Kimberly-Clark by 3.5% during the 2nd quarter. NewEdge Advisors LLC now owns 595,464 shares of the company's stock valued at $65,364,000 after purchasing an additional 20,300 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Kimberly-Clark during the 2nd quarter valued at about $34,869,000. Bank of America Corp DE boosted its stake in Kimberly-Clark by 3.3% during the 2nd quarter. Bank of America Corp DE now owns 6,881,641 shares of the company's stock valued at $755,398,000 after purchasing an additional 219,742 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Kimberly-Clark by 612.5% during the 1st quarter. Fifth Third Bancorp now owns 205,588 shares of the company's stock worth $19,833,000 after purchasing an additional 176,733 shares in the last quarter. 76.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KMB. Freedom Capital raised Kimberly-Clark from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Bank of America cut their target price on Kimberly-Clark from $122.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, September 25th. Weiss Ratings upgraded Kimberly-Clark from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. Piper Sandler decreased their price target on Kimberly-Clark from $121.00 to $118.00 and set an "overweight" rating for the company in a report on Friday, September 11th. Finally, Seaport Research Partners raised Kimberly-Clark to a "buy" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Kimberly-Clark currently has an average rating of "Hold" and an average target price of $116.50.

Kimberly-Clark Stock Up 5.3%

KMB opened at $112.32 on Friday. Kimberly-Clark Corporation has a fifty-two week low of $92.42 and a fifty-two week high of $123.09. The firm has a market capitalization of $37.36 billion, a P/E ratio of 19.10, a PEG ratio of 5.77 and a beta of 0.25. The company's 50-day moving average is $102.70 and its 200 day moving average is $102.98. 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 issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.21). The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.22 billion. Kimberly-Clark had a return on equity of 143.92% and a net margin of 11.79%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. Research analysts expect that Kimberly-Clark Corporation will post 6.83 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were paid a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, September 4th. Kimberly-Clark's payout ratio is presently 87.07%.

Kimberly-Clark Profile

Kimberly-Clark Corporation NASDAQ: KMB is a global consumer products company that develops and markets personal care, tissue and professional hygiene products. Its portfolio includes products for babies and children, feminine care, adult care, family care and workplace hygiene.

The company's well-known brands include Huggies diapers and wipes, Kleenex facial tissue, Cottonelle bathroom tissue, Scott toilet paper and paper towels, Kotex feminine care products, and Depend, Poise and GoodNites products.

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