PNC Financial Services Group Inc. Sells 40,663 Shares of Kimberly-Clark Corporation $KMB

Key Points

• PNC Financial Services Group cut its Kimberly-Clark stake by 8.2% in the fourth quarter, selling 40,663 shares and leaving it with 454,413 shares valued at about $45.8 million.
• Kimberly-Clark reported better-than-expected quarterly results, with EPS of $1.97 versus $1.93 expected and revenue of $4.16 billion versus $4.09 billion estimated.
• The company also announced a quarterly dividend of $1.28 per share, implying an annualized yield of 5.2%, while analysts currently have an overall Hold rating and an average price target of $114.93.

PNC Financial Services Group Inc. reduced its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 8.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 454,413 shares of the company's stock after selling 40,663 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.14% of Kimberly-Clark worth $45,846,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC grew its stake in shares of Kimberly-Clark by 3.0% during the 4th quarter. Larson Financial Group LLC now owns 4,724 shares of the company's stock worth $477,000 after acquiring an additional 139 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Kimberly-Clark by 0.9% in the fourth quarter. ProShare Advisors LLC now owns 1,385,722 shares of the company's stock valued at $139,805,000 after buying an additional 12,427 shares in the last quarter. Entrust Financial LLC bought a new position in shares of Kimberly-Clark in the fourth quarter valued at $32,000. Intrua Financial LLC grew its stake in shares of Kimberly-Clark by 36.9% in the fourth quarter. Intrua Financial LLC now owns 5,527 shares of the company's stock valued at $558,000 after buying an additional 1,490 shares in the last quarter. Finally, Mission Wealth Management LP grew its stake in shares of Kimberly-Clark by 3.3% in the fourth quarter. Mission Wealth Management LP now owns 4,595 shares of the company's stock valued at $464,000 after buying an additional 147 shares in the last quarter. 76.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Kimberly-Clark news, insider Katy Chen sold 1,596 shares of Kimberly-Clark stock in a transaction on 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 transaction, the insider directly owned 8,362 shares of the company's stock, valued at $797,233.08. The trade was a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Andrew Scribner sold 4,095 shares of Kimberly-Clark stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total transaction of $401,310.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 7,096 shares of company stock valued at $689,687. Company insiders own 0.75% of the company's stock.

Kimberly-Clark Trading Up 1.2%

KMB stock opened at $98.73 on Friday. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.77 and a quick ratio of 0.55. The company has a fifty day moving average price of $97.71 and a two-hundred day moving average price of $101.40. Kimberly-Clark Corporation has a one year low of $92.42 and a one year high of $144.30. The stock has a market cap of $32.77 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 4.38 and a beta of 0.29.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.97 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 analysts' expectations of $4.09 billion. During the same period in the previous year, the business posted $1.93 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Kimberly-Clark Corporation will post 7.48 EPS for the current year.

Kimberly-Clark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, June 5th. Kimberly-Clark's payout ratio is 80.38%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KMB shares. Piper Sandler decreased their target price on shares of Kimberly-Clark from $133.00 to $114.00 and set an "overweight" rating for the company in a research note on Friday, March 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Kimberly-Clark in a research note on Friday, March 27th. Barclays decreased their target price on shares of Kimberly-Clark from $105.00 to $99.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Kimberly-Clark from $110.00 to $109.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Finally, Bank of America decreased their target price on shares of Kimberly-Clark from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $114.93.

About Kimberly-Clark

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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