SteelPeak Wealth LLC Acquires New Holdings in Kimberly-Clark Corporation $KMB

Key Points

• SteelPeak Wealth LLC initiated a new position in Kimberly-Clark during the first quarter, buying 13,092 shares valued at about $1.28 million.
• Kimberly-Clark’s latest quarterly results beat expectations, with EPS of $1.97 versus the $1.93 estimate and revenue of $4.16 billion, up 2.7% year over year.
• The company continues to offer income appeal, recently paying a $1.28 quarterly dividend that annualizes to a 4.7% yield; however, analysts remain cautious overall with an average rating of Hold.

SteelPeak Wealth LLC bought a new position in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,092 shares of the company's stock, valued at approximately $1,276,000.

A number of other institutional investors have also recently added to or reduced their stakes in KMB. Godfrey Financial Associates Inc. acquired a new position in shares of Kimberly-Clark during the fourth quarter worth $25,000. Darwin Wealth Management LLC acquired a new stake in Kimberly-Clark in the second quarter valued at $27,000. CrossGen Wealth LLC acquired a new stake in Kimberly-Clark in the fourth quarter valued at $27,000. Eagle Bay Advisors LLC bought a new position in Kimberly-Clark during the 4th quarter worth $28,000. Finally, Newbridge Financial Services Group Inc. raised its position in Kimberly-Clark by 96.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 285 shares of the company's stock worth $29,000 after purchasing an additional 140 shares during the last quarter. 76.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on KMB. Weiss Ratings reiterated a "hold (c-)" rating on shares of Kimberly-Clark in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on Kimberly-Clark from $110.00 to $109.00 and set a "hold" rating for the company in a research report on Monday, March 30th. Barclays cut their price objective on Kimberly-Clark from $105.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 14th. Bank of America reduced their target price on Kimberly-Clark from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, April 10th. Finally, UBS Group increased their target price on shares of Kimberly-Clark from $106.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $116.79.

Kimberly-Clark Price Performance

KMB stock opened at $108.35 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 3.38. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 4.85 and a beta of 0.26. The company's fifty day simple moving average is $103.19 and its 200 day simple moving average is $101.74. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $137.46.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.04. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the business posted $1.93 EPS. The business's revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that Kimberly-Clark Corporation will post 7.47 earnings per share for the current year.

Kimberly-Clark Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Andrew Scribner sold 4,095 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $401,310.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Katy Chen sold 1,596 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the transaction, the insider directly owned 8,362 shares in the company, valued at $797,233.08. This trade represents a 16.03% decrease in their position. 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. Insiders have sold a total of 7,096 shares of company stock worth $689,687 in the last quarter. 0.75% of the stock is owned by corporate insiders.

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.

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 Corporation (NASDAQ: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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.