Resona Asset Management Co. Ltd. Cuts Stock Holdings in Kimberly-Clark Corporation $KMB

Key Points

• Resona Asset Management reduced its Kimberly-Clark stake by 8.6% in the fourth quarter, selling 13,855 shares and ending with 147,376 shares worth about $14.9 million.
• Insider selling was also reported, with Katy Chen and Andrew Scribner selling shares; insiders have sold 7,096 shares worth about $689,687 over the last 90 days.
• Kimberly-Clark beat quarterly earnings and revenue expectations, posting EPS of $1.97 on revenue of $4.16 billion, while the company also declared a quarterly dividend of $1.28 per share, implying a 5.2% yield.

Resona Asset Management Co. Ltd. trimmed its stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 8.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,376 shares of the company's stock after selling 13,855 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Kimberly-Clark were worth $14,874,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in Kimberly-Clark during the third quarter valued at $25,000. Darwin Wealth Management LLC purchased a new position in Kimberly-Clark during the second quarter valued at $27,000. Eagle Bay Advisors LLC purchased a new position in Kimberly-Clark during the fourth quarter valued at $28,000. Newbridge Financial Services Group Inc. grew its stake in Kimberly-Clark by 96.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 285 shares of the company's stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. Finally, Entrust Financial LLC purchased a new position in Kimberly-Clark during the fourth quarter valued at $32,000. 76.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Katy Chen sold 1,596 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the sale, the insider owned 8,362 shares in the company, valued at approximately $797,233.08. This trade represents a 16.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total transaction of $401,310.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,096 shares of company stock valued at $689,687 in the last 90 days. Company insiders own 0.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on KMB. Zacks Research lowered shares of Kimberly-Clark from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Bank of America lowered their price objective on shares of Kimberly-Clark from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, April 10th. Piper Sandler lowered their price objective on shares of Kimberly-Clark from $133.00 to $114.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. Barclays lowered their price objective on shares of Kimberly-Clark from $105.00 to $99.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 14th. Finally, UBS Group increased their price objective on shares of Kimberly-Clark from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Kimberly-Clark has an average rating of "Hold" and an average price target of $114.93.

Kimberly-Clark Price Performance

Kimberly-Clark stock opened at $97.55 on Thursday. The firm has a 50-day moving average price of $97.77 and a 200-day moving average price of $101.55. The firm has a market capitalization of $32.38 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 4.33 and a beta of 0.29. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 3.38. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $144.30.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.04. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.09 billion. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The business's revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $1.93 EPS. As a group, equities research analysts forecast that Kimberly-Clark Corporation will post 7.48 EPS for the current year.

Kimberly-Clark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be issued a $1.28 dividend. This represents a $5.12 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, June 5th. Kimberly-Clark's dividend payout ratio (DPR) is 80.38%.

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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