Pictet Asset Management Ltd. Raises Stake in Kimberly Clark Corp (KMB)
Pictet Asset Management Ltd. grew its position in Kimberly Clark Corp (NYSE:KMB) by 6.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 577,025 shares of the company’s stock after acquiring an additional 32,452 shares during the period. Pictet Asset Management Ltd.’s holdings in Kimberly Clark were worth $71,493,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thoroughbred Financial Services LLC boosted its holdings in Kimberly Clark by 1.1% in the first quarter. Thoroughbred Financial Services LLC now owns 8,033 shares of the company’s stock valued at $995,000 after purchasing an additional 84 shares during the period. Winslow Evans & Crocker Inc. boosted its holdings in Kimberly Clark by 5.8% in the first quarter. Winslow Evans & Crocker Inc. now owns 1,560 shares of the company’s stock valued at $194,000 after purchasing an additional 86 shares during the period. Signature Wealth Management Group lifted its holdings in Kimberly Clark by 0.3% during the 4th quarter. Signature Wealth Management Group now owns 28,005 shares of the company’s stock worth $3,191,000 after buying an additional 88 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Kimberly Clark by 4.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,056 shares of the company’s stock worth $234,000 after buying an additional 89 shares during the last quarter. Finally, Dowling & Yahnke LLC lifted its holdings in Kimberly Clark by 0.4% during the 1st quarter. Dowling & Yahnke LLC now owns 22,185 shares of the company’s stock worth $2,749,000 after buying an additional 90 shares during the last quarter. 71.41% of the stock is owned by institutional investors and hedge funds.
In other news, insider Kimberly K. Underhill sold 23,785 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $131.05, for a total value of $3,117,024.25. Following the completion of the sale, the insider now directly owns 51,307 shares of the company’s stock, valued at approximately $6,723,782.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sandra Macquillan sold 5,385 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $126.15, for a total value of $679,317.75. Following the completion of the sale, the senior vice president now directly owns 15,814 shares of the company’s stock, valued at $1,994,936.10. The disclosure for this sale can be found here. Insiders sold a total of 446,313 shares of company stock valued at $56,436,155 over the last three months. Company insiders own 0.85% of the company’s stock.
Kimberly Clark (NYSE:KMB) last posted its earnings results on Monday, April 22nd. The company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.12. Kimberly Clark had a return on equity of 5,637.04% and a net margin of 9.63%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.55 billion. During the same period in the previous year, the business earned $1.71 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities research analysts expect that Kimberly Clark Corp will post 6.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Friday, June 7th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Thursday, June 6th. Kimberly Clark’s payout ratio is currently 62.33%.
A number of analysts have issued reports on KMB shares. Morgan Stanley lifted their price target on Kimberly Clark from $113.00 to $124.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 12th. BNP Paribas started coverage on Kimberly Clark in a report on Monday, February 11th. They set an “outperform” rating and a $130.00 price target for the company. Argus raised Kimberly Clark from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Tuesday, April 23rd. Exane BNP Paribas started coverage on Kimberly Clark in a report on Tuesday, February 12th. They set an “outperform” rating and a $130.00 price target for the company. Finally, Citigroup lifted their price target on Kimberly Clark from $102.00 to $116.00 and gave the stock a “sell” rating in a report on Tuesday, April 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Kimberly Clark has a consensus rating of “Hold” and a consensus target price of $120.24.
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Kimberly Clark Company Profile
Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care, consumer tissue, and professional products worldwide. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Kotex, U by Kotex, Intimus, Depend, Plenitud, Poise, and other brand names.
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