Kimberly-Clark Corporation $KMB Stock: Assenagon Asset Management S.A. Increases Stake

Key Points

• Assenagon Asset Management increased its Kimberly-Clark stake by 540.3% in the third quarter, reaching 116,710 shares valued at approximately $11.4 million. Institutional investors collectively own 76.29% of KMB.
• Kimberly-Clark shares opened at $105.41, while the company’s latest quarterly results missed expectations, with earnings of $1.80 per share versus the $2.01 consensus and revenue of $4.19 billion.
• The company maintains a quarterly dividend of $1.28 per share, equivalent to a 4.9% yield. Analysts’ consensus rating is “Hold”, with an average price target of $116.50.

Assenagon Asset Management S.A. grew its stake in Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 540.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,710 shares of the company's stock after purchasing an additional 98,482 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Kimberly-Clark were worth $11,371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of KMB. Mystic Asset Management Inc. boosted its position in shares of Kimberly-Clark by 0.5% in the 3rd quarter. Mystic Asset Management Inc. now owns 20,354 shares of the company's stock worth $1,983,000 after purchasing an additional 109 shares in the last quarter. Chiron Capital Management LLC increased its position in Kimberly-Clark by 30.9% during the 3rd quarter. Chiron Capital Management LLC now owns 14,813 shares of the company's stock valued at $1,443,000 after buying an additional 3,500 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its position in Kimberly-Clark by 125.8% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 5,619 shares of the company's stock valued at $547,000 after buying an additional 3,131 shares in the last quarter. Purus Wealth Management LLC increased its position in Kimberly-Clark by 6.5% during the 3rd quarter. Purus Wealth Management LLC now owns 3,260 shares of the company's stock valued at $318,000 after buying an additional 199 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in Kimberly-Clark by 16.3% during the third quarter. Viking Fund Management LLC now owns 186,000 shares of the company's stock valued at $18,122,000 after buying an additional 26,000 shares during the last quarter. 76.29% of the stock is owned by hedge funds and other institutional investors.

Kimberly-Clark Trading Down 0.2%

Kimberly-Clark stock opened at $105.41 on Tuesday. Kimberly-Clark Corporation has a 52-week low of $92.42 and a 52-week high of $123.09. The company has a market cap of $35.06 billion, a P/E ratio of 14.17, a P/E/G ratio of 5.41 and a beta of 0.25. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 3.45. The business has a 50-day simple moving average of $102.72 and a two-hundred day simple moving average of $102.72.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last announced its 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). Kimberly-Clark had a return on equity of 143.92% and a net margin of 11.79%. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.22 billion. Kimberly-Clark's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 earnings per share. Analysts predict that Kimberly-Clark Corporation will post 7.33 EPS for the current year.

Kimberly-Clark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were issued a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, September 4th. Kimberly-Clark's dividend payout ratio is 87.07%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Seaport Research Partners upgraded Kimberly-Clark to a "buy" rating in a report on Tuesday, August 4th. BNP Paribas Exane lifted their price target on Kimberly-Clark from $101.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday. Barclays upped their price target on shares of Kimberly-Clark from $101.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Piper Sandler dropped their price target on shares of Kimberly-Clark from $121.00 to $118.00 and set an "overweight" rating on the stock in a research note on Friday, September 11th. Finally, Bank of America cut their price objective on shares of Kimberly-Clark from $122.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $116.50.

Kimberly-Clark Company 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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