Redmond Asset Management LLC Buys 13,873 Shares of Kimberly-Clark Corporation $KMB

Key Points

• Redmond Asset Management initiated a Kimberly-Clark position by purchasing 13,873 shares valued at approximately $1.35 million. Institutional investors and hedge funds collectively own 76.29% of the company.
• Kimberly-Clark’s latest quarterly results fell short of expectations, with earnings per share of $1.80 versus the $2.01 consensus estimate and revenue of $4.19 billion versus $4.22 billion expected.
• The company pays a quarterly dividend of $1.28 per share, equal to a $5.12 annualized payout and a 4.7% yield. Analysts maintain an average “Hold” rating with a consensus price target of $112.21.

Redmond Asset Management LLC purchased a new stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,873 shares of the company's stock, valued at approximately $1,352,000.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Kimberly-Clark in the second quarter valued at approximately $3,547,915,000. Bank of America Corp DE increased its stake in shares of Kimberly-Clark by 3.3% in the 2nd quarter. Bank of America Corp DE now owns 6,881,641 shares of the company's stock valued at $755,398,000 after acquiring an additional 219,742 shares in the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of Kimberly-Clark during the 2nd quarter valued at $632,373,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kimberly-Clark by 8.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,116,768 shares of the company's stock valued at $342,128,000 after acquiring an additional 249,832 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Kimberly-Clark by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 2,237,904 shares of the company's stock valued at $215,891,000 after acquiring an additional 18,989 shares during the period. 76.29% of the stock is currently owned by institutional investors and hedge funds.

Kimberly-Clark Price Performance

Kimberly-Clark stock opened at $108.40 on Thursday. Kimberly-Clark Corporation has a 52 week low of $92.42 and a 52 week high of $123.09. The company's 50 day moving average price is $102.83 and its two-hundred day moving average price is $102.91. The stock has a market cap of $36.05 billion, a P/E ratio of 18.44, a P/E/G ratio of 5.96 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.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.21). Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company posted $1.92 EPS. Kimberly-Clark's quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Kimberly-Clark Corporation will post 6.83 earnings per share for the current year.

Kimberly-Clark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were given a dividend of $1.28 per share. The ex-dividend date was Friday, September 4th. This represents a $5.12 annualized dividend and a dividend yield of 4.7%. Kimberly-Clark's payout ratio is currently 87.07%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays raised their target price on Kimberly-Clark from $101.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Bank of America dropped their price target on Kimberly-Clark from $122.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, September 25th. Wells Fargo & Company cut their price target on Kimberly-Clark from $105.00 to $100.00 and set an "equal weight" rating on the stock in a report on Monday, October 5th. Freedom Capital raised Kimberly-Clark from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Finally, Seaport Research Partners raised Kimberly-Clark to a "buy" rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $112.21.

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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