Farmers Trust Co. Reduces Position in Kimberly-Clark Corporation (KMB)
Farmers Trust Co. lowered its stake in Kimberly-Clark Corporation (NYSE:KMB) by 12.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,203 shares of the company’s stock after selling 463 shares during the quarter. Farmers Trust Co.’s holdings in Kimberly-Clark Corporation were worth $414,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Tortoise Investment Management LLC boosted its holdings in Kimberly-Clark Corporation by 4.7% in the first quarter. Tortoise Investment Management LLC now owns 758 shares of the company’s stock worth $100,000 after purchasing an additional 34 shares during the last quarter. Acrospire Investment Management LLC boosted its holdings in Kimberly-Clark Corporation by 125.0% in the first quarter. Acrospire Investment Management LLC now owns 900 shares of the company’s stock worth $118,000 after purchasing an additional 500 shares during the last quarter. Armbruster Capital Management Inc. boosted its holdings in Kimberly-Clark Corporation by 38.5% in the first quarter. Armbruster Capital Management Inc. now owns 900 shares of the company’s stock worth $118,000 after purchasing an additional 250 shares during the last quarter. Heritage Trust Co purchased a new stake in Kimberly-Clark Corporation in the first quarter worth approximately $118,000. Finally, Sterling Investment Advisors Ltd. boosted its holdings in Kimberly-Clark Corporation by 63.8% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,027 shares of the company’s stock worth $135,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 70.10% of the company’s stock.
Shares of Kimberly-Clark Corporation (NYSE:KMB) traded up 0.22% during mid-day trading on Friday, hitting $121.10. 2,548,470 shares of the stock traded hands. Kimberly-Clark Corporation has a 12 month low of $111.30 and a 12 month high of $136.21. The stock has a market cap of $42.78 billion, a price-to-earnings ratio of 20.22 and a beta of 0.78. The firm has a 50 day moving average of $121.55 and a 200 day moving average of $127.86.
Kimberly-Clark Corporation (NYSE:KMB) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.49. Kimberly-Clark Corporation had a net margin of 11.82% and a return on equity of 636.30%. The firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts expect that Kimberly-Clark Corporation will post $6.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 8th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, September 7th. Kimberly-Clark Corporation’s dividend payout ratio (DPR) is presently 64.88%.
Several brokerages recently issued reports on KMB. Citigroup Inc. set a $132.00 target price on shares of Kimberly-Clark Corporation and gave the stock a “hold” rating in a report on Wednesday, July 26th. Zacks Investment Research cut shares of Kimberly-Clark Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 7th. BidaskClub cut shares of Kimberly-Clark Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) set a $157.00 price target on shares of Kimberly-Clark Corporation and gave the stock a “buy” rating in a research note on Monday, June 19th. Finally, UBS AG cut shares of Kimberly-Clark Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $134.00 to $120.00 in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $132.07.
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In other news, Director Robert W. Decherd purchased 1,500 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $122.21 per share, with a total value of $183,315.00. Following the completion of the acquisition, the director now owns 43,444 shares of the company’s stock, valued at approximately $5,309,291.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.
About Kimberly-Clark Corporation
Kimberly-Clark Corporation is engaged in the manufacturing and marketing of a range of products made from natural or synthetic fibers. The Company’s segments include Personal Care, Consumer Tissue, K-C Professional and Corporate & Other. The Company’s Personal Care segment offers various solutions and products, such as disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products.
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