State Street Corp Sells 567,268 Shares of Kimberly-Clark Corporation $KMB

Key Points

• State Street reduced its Kimberly-Clark stake by 2.6%, selling 567,268 shares and retaining 21.08 million shares valued at approximately $2.34 billion. Institutional investors collectively own 76.29% of the company.
• Analysts maintain a generally neutral view, with a consensus “Hold” rating and an average price target of $117.36; recent target changes ranged from $105 to $116.
• Kimberly-Clark missed quarterly earnings and revenue expectations, reporting $1.80 in EPS and $4.19 billion in revenue. The company declared a quarterly dividend of $1.28 per share, equivalent to a 5.2% yield.

State Street Corp trimmed its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 2.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,081,552 shares of the company's stock after selling 567,268 shares during the period. State Street Corp owned approximately 6.34% of Kimberly-Clark worth $2,340,808,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KMB. Ally Financial Inc. bought a new position in shares of Kimberly-Clark in the 4th quarter worth approximately $1,009,000. Legal & General Group Plc bought a new stake in shares of Kimberly-Clark during the 2nd quarter valued at $223,668,000. Westpac Banking Corp grew its position in shares of Kimberly-Clark by 25.0% during the 4th quarter. Westpac Banking Corp now owns 54,135 shares of the company's stock valued at $5,462,000 after acquiring an additional 10,811 shares during the period. Oddo BHF Asset Management Sas increased its stake in shares of Kimberly-Clark by 29.6% in the 4th quarter. Oddo BHF Asset Management Sas now owns 61,795 shares of the company's stock worth $6,234,000 after purchasing an additional 14,115 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Kimberly-Clark in the 4th quarter worth $1,047,000. 76.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Kimberly-Clark from $110.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 10th. Weiss Ratings raised shares of Kimberly-Clark from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. Barclays raised their target price on shares of Kimberly-Clark from $101.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Seaport Research Partners upgraded shares of Kimberly-Clark to a "buy" rating in a research report on Tuesday, August 4th. Finally, UBS Group increased their price objective on shares of Kimberly-Clark from $115.00 to $116.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $117.36.

Kimberly-Clark Price Performance

KMB opened at $98.91 on Wednesday. The business has a fifty day moving average of $106.90 and a 200 day moving average of $102.87. The stock has a market cap of $32.90 billion, a P/E ratio of 16.82, a PEG ratio of 4.48 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 Corporation has a 52-week low of $92.42 and a 52-week high of $125.32.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.21). The company had revenue of $4.19 billion during the quarter, compared to analysts' expectations of $4.22 billion. Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. Kimberly-Clark's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $1.92 earnings per share. As a group, sell-side analysts anticipate that Kimberly-Clark Corporation will post 7.38 EPS for the current year.

Kimberly-Clark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be given a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, September 4th. Kimberly-Clark's dividend payout ratio is presently 87.07%.

Kimberly-Clark Profile

Kimberly-Clark Corporation is a global manufacturer of personal care and consumer tissue products. The company develops and markets products designed to support personal hygiene, health and well-being in households, healthcare settings and workplaces.

Its portfolio includes well-known brands such as Huggies diapers and training pants, Kleenex facial tissues, Cottonelle toilet paper and wipes, Scott toilet paper and paper towels, Kotex feminine care products, and Depend and Poise incontinence care products.

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