Mengis Capital Management Inc. Trims Stake in Kimberly-Clark Co. $KMB

Key Points

• Mengis Capital Management Inc. reduced its stake in Kimberly-Clark Co. by 26.9%, selling 6,876 shares and now owning 18,730 shares valued at approximately $2.4 million.
• Kimberly-Clark reported earnings of $1.92 per share, exceeding estimates, but its revenue of $4.16 billion fell short of expectations and was down 1.6% compared to the previous year.
• The company declared a quarterly dividend of $1.26 per share, with a current yield of 4.2% and a payout ratio of 69.42%.

Mengis Capital Management Inc. lowered its stake in Kimberly-Clark Co. (NYSE:KMB - Free Report) by 26.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,730 shares of the company's stock after selling 6,876 shares during the quarter. Mengis Capital Management Inc.'s holdings in Kimberly-Clark were worth $2,415,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strs Ohio purchased a new stake in Kimberly-Clark in the 1st quarter valued at approximately $12,854,000. Elevate Capital Advisors LLC lifted its stake in shares of Kimberly-Clark by 46.4% during the 1st quarter. Elevate Capital Advisors LLC now owns 12,444 shares of the company's stock worth $1,770,000 after purchasing an additional 3,944 shares during the period. 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 period. 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 period. Finally, United Community Bank lifted its stake in shares of Kimberly-Clark by 340.0% during the 1st quarter. United Community Bank now owns 18,518 shares of the company's stock worth $2,634,000 after purchasing an additional 14,309 shares during the period. Hedge funds and other institutional investors own 76.29% of the company's stock.

Kimberly-Clark Stock Down 0.1%

Shares of NYSE KMB opened at $119.55 on Friday. Kimberly-Clark Co. has a 12-month low of $119.36 and a 12-month high of $150.45. The company has a market cap of $39.66 billion, a P/E ratio of 15.83, a P/E/G ratio of 4.46 and a beta of 0.30. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 7.05. The stock has a fifty day moving average price of $128.40 and a 200 day moving average price of $132.22.

Kimberly-Clark (NYSE:KMB - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $1.92 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $4.85 billion. During the same period in the prior year, the firm earned $1.96 EPS. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts anticipate that Kimberly-Clark Co. will post 7.5 EPS for the current fiscal year.

Kimberly-Clark Announces Dividend

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

Wall Street Analysts Forecast Growth

KMB has been the topic of a number of recent analyst reports. Evercore ISI reduced their price target on Kimberly-Clark from $155.00 to $150.00 and set an "outperform" rating on the stock in a research note on Monday, September 22nd. Piper Sandler dropped their price objective on Kimberly-Clark from $149.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, October 2nd. JPMorgan Chase & Co. upgraded Kimberly-Clark from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $125.00 to $138.00 in a report on Monday, August 4th. UBS Group dropped their price objective on Kimberly-Clark from $140.00 to $130.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Citigroup dropped their price objective on Kimberly-Clark from $118.00 to $113.00 and set a "sell" rating for the company in a report on Thursday. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $138.22.

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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