Sterling Capital Management LLC Sells 12,189 Shares of Kimberly-Clark Corporation $KMB

Key Points

• Sterling Capital Management LLC cut its Kimberly-Clark stake by 76.1% in the first quarter, selling 12,189 shares and leaving it with 3,828 shares valued at about $369,000.
• Analyst sentiment remains mixed: Kimberly-Clark has a consensus rating of "Hold" with a consensus price target of $115.43, though some firms recently raised or lowered their targets.
• The company reported solid quarterly results, with EPS of $1.97 and revenue of $4.16 billion, both above estimates, while also paying a quarterly dividend of $1.28 per share for a 4.5% annualized yield.

Sterling Capital Management LLC decreased its stake in Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 76.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,828 shares of the company's stock after selling 12,189 shares during the quarter. Sterling Capital Management LLC's holdings in Kimberly-Clark were worth $369,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of Kimberly-Clark during the 2nd quarter valued at about $27,000. Godfrey Financial Associates Inc. purchased a new stake in Kimberly-Clark in the 4th quarter worth approximately $25,000. Eagle Bay Advisors LLC bought a new stake in Kimberly-Clark during the 4th quarter worth approximately $28,000. CrossGen Wealth LLC bought a new stake in Kimberly-Clark during the 4th quarter worth approximately $27,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings 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 purchasing an additional 140 shares in the last quarter. Institutional investors own 76.29% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KMB shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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 lowered their target price on shares of 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. Wells Fargo & Company dropped their target price on shares of Kimberly-Clark from $110.00 to $100.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Piper Sandler increased their price target on Kimberly-Clark from $115.00 to $121.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 17th. Finally, UBS Group raised their price target on Kimberly-Clark from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $115.43.

Insider Activity

In other news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katy Chen sold 1,596 shares of Kimberly-Clark stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the sale, the insider directly owned 8,362 shares in the company, valued at $797,233.08. This trade 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. Insiders have sold a total of 7,096 shares of company stock valued at $689,687 in the last three months. Insiders own 0.75% of the company's stock.

Kimberly-Clark Stock Performance

Shares of KMB opened at $114.72 on Friday. The firm has a market cap of $38.08 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 5.14 and a beta of 0.26. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.77 and a quick ratio of 0.55. Kimberly-Clark Corporation has a 1 year low of $92.42 and a 1 year high of $137.46. The company has a 50 day simple moving average of $100.78 and a two-hundred day simple moving average of $101.12.

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

Kimberly-Clark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, June 5th. Kimberly-Clark's dividend payout ratio is 80.38%.

Kimberly-Clark Profile

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.

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.