Kimberly Clark Corp (KMB) Shares Sold by Palisade Asset Management LLC
Palisade Asset Management LLC trimmed its holdings in Kimberly Clark Corp (NYSE:KMB) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,767 shares of the company’s stock after selling 1,000 shares during the quarter. Palisade Asset Management LLC’s holdings in Kimberly Clark were worth $3,954,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Coldstream Capital Management Inc. raised its holdings in Kimberly Clark by 0.3% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,597 shares of the company’s stock worth $206,000 after purchasing an additional 5 shares during the last quarter. Mosaic Family Wealth LLC raised its holdings in Kimberly Clark by 0.5% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,116 shares of the company’s stock worth $144,000 after purchasing an additional 6 shares during the last quarter. Winch Advisory Services LLC raised its holdings in Kimberly Clark by 0.6% during the 2nd quarter. Winch Advisory Services LLC now owns 1,404 shares of the company’s stock worth $181,000 after purchasing an additional 8 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its holdings in Kimberly Clark by 0.6% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,480 shares of the company’s stock worth $320,000 after purchasing an additional 14 shares during the last quarter. Finally, Savant Capital LLC raised its holdings in Kimberly Clark by 0.4% during the 2nd quarter. Savant Capital LLC now owns 4,995 shares of the company’s stock worth $645,000 after purchasing an additional 21 shares during the last quarter. 71.82% of the stock is owned by institutional investors and hedge funds.
In related news, insider Kimberly K. Underhill sold 23,158 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $119.77, for a total value of $2,773,633.66. Following the completion of the transaction, the insider now directly owns 31,141 shares in the company, valued at approximately $3,729,757.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.
Kimberly Clark (NYSE:KMB) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.03. Kimberly Clark had a return on equity of 427.79% and a net margin of 12.48%. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same period in the previous year, the firm earned $1.45 EPS. Kimberly Clark’s quarterly revenue was up .8% compared to the same quarter last year. research analysts anticipate that Kimberly Clark Corp will post 6.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 9th will be given a $1.00 dividend. The ex-dividend date is Thursday, March 8th. This is a positive change from Kimberly Clark’s previous quarterly dividend of $0.97. This represents a $4.00 annualized dividend and a dividend yield of 3.56%. Kimberly Clark’s payout ratio is currently 60.53%.
Several brokerages have weighed in on KMB. Citigroup cut Kimberly Clark from a “neutral” rating to a “sell” rating and set a $113.00 price objective for the company. in a report on Monday, December 11th. Zacks Investment Research cut Kimberly Clark from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Royal Bank of Canada reissued a “hold” rating and set a $121.00 price objective on shares of Kimberly Clark in a report on Friday, October 13th. Deutsche Bank assumed coverage on Kimberly Clark in a research report on Wednesday, December 13th. They set a “hold” rating and a $121.00 target price for the company. Finally, JPMorgan Chase & Co. lowered Kimberly Clark from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $115.55 to $100.00 in a research report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $126.44.
Kimberly Clark Company Profile
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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