SEB Asset Management AB Acquires New Shares in Kimberly-Clark Corporation $KMB

Key Points

• SEB Asset Management AB opened a new position in Kimberly-Clark during the first quarter, buying 67,538 shares valued at about $6.5 million.
• Kimberly-Clark reported better-than-expected quarterly results, with EPS of $1.97 versus estimates of $1.93 and revenue of $4.16 billion versus expectations of $4.09 billion.
• The company continues to pay a sizeable dividend, recently distributing $1.28 per share quarterly for an annualized yield of 4.7%; analysts currently rate the stock Hold on average.

SEB Asset Management AB acquired a new position in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 67,538 shares of the company's stock, valued at approximately $6,515,000.

A number of other hedge funds also recently added to or reduced their stakes in KMB. Vanguard Group Inc. grew its position in shares of Kimberly-Clark by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 40,846,734 shares of the company's stock worth $4,121,027,000 after acquiring an additional 315,981 shares during the last quarter. State Street Corp lifted its position in Kimberly-Clark by 1.4% in the 4th quarter. State Street Corp now owns 21,125,118 shares of the company's stock valued at $2,157,746,000 after purchasing an additional 294,228 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kimberly-Clark by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,917,154 shares of the company's stock valued at $1,202,322,000 after purchasing an additional 299,382 shares during the period. Geode Capital Management LLC boosted its stake in Kimberly-Clark by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 8,322,198 shares of the company's stock valued at $836,216,000 after purchasing an additional 65,619 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in 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. 76.29% of the stock is currently owned by institutional investors.

Kimberly-Clark Price Performance

Shares of Kimberly-Clark stock opened at $108.05 on Wednesday. Kimberly-Clark Corporation has a 52 week low of $92.42 and a 52 week high of $137.46. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 3.38. The stock has a market cap of $35.87 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 4.83 and a beta of 0.26. The company's 50-day moving average price is $103.66 and its two-hundred day moving average price is $101.84.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.04. The company 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 for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. As a group, sell-side analysts anticipate that Kimberly-Clark Corporation will post 7.47 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were issued a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, June 5th. Kimberly-Clark's dividend payout ratio (DPR) is presently 80.38%.

Insider Activity at Kimberly-Clark

In other news, VP Andrew Scribner sold 4,095 shares of the 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katy Chen sold 1,596 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $95.34, for a total value of $152,162.64. Following the sale, the insider directly owned 8,362 shares of the company's stock, valued at approximately $797,233.08. This represents a 16.03% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 7,096 shares of company stock worth $689,687. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Kimberly-Clark from $100.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 8th. UBS Group increased their price objective on Kimberly-Clark from $106.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Piper Sandler raised their target price on Kimberly-Clark from $115.00 to $121.00 and gave the company an "overweight" rating in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft cut their target price on Kimberly-Clark from $110.00 to $109.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. Finally, Barclays boosted their price target on Kimberly-Clark from $101.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Kimberly-Clark presently has a consensus rating of "Hold" and an average target price of $117.93.

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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