Praxis Investment Management Inc. Increases Stake in Kimberly-Clark Co. $KMB

Key Points

• Praxis Investment Management Inc. increased its stake in Kimberly-Clark by 82.2% in Q2, owning 6,250 shares valued at $806,000.
• Kimberly-Clark's quarterly earnings beat analysts' expectations with an EPS of $1.92, despite revenue falling short at $4.16 billion.
• The company has announced a quarterly dividend of $1.26, representing an annual yield of 4.2% and a payout ratio of 69.42%.

Praxis Investment Management Inc. lifted its stake in shares of Kimberly-Clark Co. (NYSE:KMB - Free Report) by 82.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,250 shares of the company's stock after buying an additional 2,820 shares during the quarter. Praxis Investment Management Inc.'s holdings in Kimberly-Clark were worth $806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Kimberly-Clark during the first quarter valued at about $12,854,000. Elevate Capital Advisors LLC grew its holdings in Kimberly-Clark by 46.4% in the first 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. grew its holdings in Kimberly-Clark by 86.8% in the first 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 grew its holdings in Kimberly-Clark by 270.2% in the first 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 grew its holdings in Kimberly-Clark by 340.0% in the first 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 Trading Up 1.5%

NYSE:KMB opened at $121.44 on Friday. The company's 50 day moving average price is $126.65 and its 200-day moving average price is $131.38. Kimberly-Clark Co. has a 52 week low of $118.18 and a 52 week high of $150.45. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 7.05. The stock has a market cap of $40.29 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 4.46 and a beta of 0.30.

Kimberly-Clark (NYSE:KMB - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.25. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. The firm had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that Kimberly-Clark Co. will post 7.5 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Kimberly-Clark from $140.00 to $130.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Piper Sandler cut their price objective on shares of Kimberly-Clark from $149.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, October 2nd. JPMorgan Chase & Co. cut their price objective on shares of Kimberly-Clark from $144.00 to $127.00 and set a "neutral" rating on the stock in a report on Friday, October 10th. Citigroup cut their price objective on shares of Kimberly-Clark from $118.00 to $113.00 and set a "sell" rating on the stock in a report on Thursday, October 9th. Finally, Barclays cut their price objective on shares of Kimberly-Clark from $139.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Kimberly-Clark presently has a consensus rating of "Hold" and a consensus price target of $137.00.

About Kimberly-Clark

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.

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 Co. (NYSE: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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.