PNC Financial Services Group Inc. Has $41.26 Million Holdings in Kimberly-Clark Corporation $KMB

Key Points

• PNC Financial Services trimmed its Kimberly-Clark stake by 5.9% in the first quarter, selling 26,759 shares and ending with 427,654 shares valued at about $41.26 million.
• Insider selling continued during the quarter, with VP Andrew Scribner and insider Katy Chen both selling shares; insiders sold 7,096 shares total worth about $689,687 over the last quarter.
• Kimberly-Clark’s latest quarter beat expectations, posting $1.97 EPS on $4.16 billion in revenue, while analysts still largely rate the stock Hold with a consensus target price of $117.93.

PNC Financial Services Group Inc. lessened its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,654 shares of the company's stock after selling 26,759 shares during the period. PNC Financial Services Group Inc. owned about 0.13% of Kimberly-Clark worth $41,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ally Financial Inc. acquired a new stake in Kimberly-Clark in the fourth quarter valued at $1,009,000. Westpac Banking Corp grew its holdings in Kimberly-Clark by 25.0% during the 4th quarter. Westpac Banking Corp now owns 54,135 shares of the company's stock worth $5,462,000 after acquiring an additional 10,811 shares in the last quarter. Oddo BHF Asset Management Sas increased its position in shares of Kimberly-Clark by 29.6% in the 4th quarter. Oddo BHF Asset Management Sas now owns 61,795 shares of the company's stock worth $6,234,000 after purchasing an additional 14,115 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Kimberly-Clark by 50.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,839,572 shares of the company's stock worth $790,934,000 after purchasing an additional 2,628,206 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Kimberly-Clark in the 4th quarter valued at about $1,047,000. Institutional investors and hedge funds own 76.29% of the company's stock.

Insiders Place Their Bets

In other news, VP Andrew Scribner sold 4,095 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $401,310.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Katy Chen sold 1,596 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the completion of the sale, the insider directly owned 8,362 shares in the company, valued at approximately $797,233.08. This trade represents a 16.03% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 7,096 shares of company stock worth $689,687 over the last quarter. 0.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kimberly-Clark from $110.00 to $109.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. UBS Group upped their price objective on Kimberly-Clark from $106.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Kimberly-Clark in a report on Wednesday, June 24th. Wells Fargo & Company lifted their target price on Kimberly-Clark from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Finally, Barclays boosted their price target on Kimberly-Clark from $101.00 to $115.00 and gave the company an "equal weight" rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $117.93.

Kimberly-Clark Stock Performance

Shares of NASDAQ KMB opened at $107.31 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 3.38. The firm's 50-day moving average price is $104.11 and its two-hundred day moving average price is $101.94. Kimberly-Clark Corporation has a 52-week low of $92.42 and a 52-week high of $137.46. The stock has a market capitalization of $35.62 billion, a P/E ratio of 16.85, a P/E/G ratio of 4.85 and a beta of 0.26.

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

Kimberly-Clark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were given a $1.28 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.12 annualized dividend and a yield of 4.8%. Kimberly-Clark's dividend payout ratio (DPR) is currently 80.38%.

Kimberly-Clark 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.

Want to see what other hedge funds are holding KMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimberly-Clark Corporation (NASDAQ:KMB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.