Procyon Advisors LLC Decreases Stock Holdings in Kimberly-Clark Corporation $KMB

Procyon Advisors LLC trimmed its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 68.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,475 shares of the company’s stock after selling 5,301 shares during the period. Procyon Advisors LLC’s holdings in Kimberly-Clark were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Ally Financial Inc. purchased a new stake in Kimberly-Clark in the fourth quarter worth $1,009,000. Westpac Banking Corp increased its position in 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 purchasing an additional 10,811 shares during the period. Nordea Investment Management AB increased its position in Kimberly-Clark by 13.7% during the 4th quarter. Nordea Investment Management AB now owns 2,774,290 shares of the company’s stock valued at $281,258,000 after purchasing an additional 334,598 shares during the period. Oddo BHF Asset Management Sas raised its holdings in 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, Massachusetts Financial Services Co. MA lifted its position in shares of 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 period. 76.29% of the stock is currently owned by hedge funds and other institutional investors.

Kimberly-Clark Stock Performance

Shares of KMB stock opened at $108.99 on Friday. The company’s fifty day moving average price is $102.99 and its 200-day moving average price is $101.69. The stock has a market cap of $36.18 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 4.74 and a beta of 0.26. 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 $137.46.

Kimberly-Clark (NASDAQ:KMB) last issued its quarterly 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. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the business earned $1.93 EPS. Kimberly-Clark’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 7.47 EPS for the current fiscal year.

Kimberly-Clark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a $1.28 dividend. 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 is 80.38%.

Insider Buying and Selling

In other Kimberly-Clark news, VP Andrew Scribner sold 4,095 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Katy Chen sold 1,596 shares of Kimberly-Clark stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $95.34, for a total transaction of $152,162.64. Following the transaction, the insider owned 8,362 shares of the company’s stock, valued at $797,233.08. The trade was a 16.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 7,096 shares of company stock valued at $689,687 in the last ninety days. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KMB shares. Bank of America cut their target price on shares of Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Kimberly-Clark in a report on Wednesday, June 24th. Wells Fargo & Company lifted their price objective on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. UBS Group upped their target price on Kimberly-Clark from $106.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Barclays decreased their target price on 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. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kimberly-Clark currently has an average rating of “Hold” and an average price target of $116.79.

Kimberly-Clark Company 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.