Kimberly-Clark Corporation $KMB Stock Holdings Cut by Destination Wealth Management

Destination Wealth Management reduced its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 10.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 45,223 shares of the company’s stock after selling 5,526 shares during the period. Destination Wealth Management’s holdings in Kimberly-Clark were worth $4,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Kimberly-Clark by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 40,846,734 shares of the company’s stock valued at $4,121,027,000 after purchasing an additional 315,981 shares in the last quarter. State Street Corp boosted its stake in Kimberly-Clark by 1.4% during the 4th quarter. State Street Corp now owns 21,125,118 shares of the company’s stock valued at $2,157,746,000 after purchasing an additional 294,228 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kimberly-Clark by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,917,154 shares of the company’s stock valued at $1,202,322,000 after purchasing an additional 299,382 shares in the last quarter. Geode Capital Management LLC boosted its stake in Kimberly-Clark by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 8,322,198 shares of the company’s stock valued at $836,216,000 after purchasing an additional 65,619 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Kimberly-Clark by 50.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,839,572 shares of the company’s stock valued at $790,934,000 after purchasing an additional 2,628,206 shares in the last quarter. 76.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KMB. Bank of America decreased their price target on Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Wells Fargo & Company decreased their price target on Kimberly-Clark from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Zacks Research lowered Kimberly-Clark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Finally, UBS Group increased their price objective on Kimberly-Clark from $105.00 to $106.00 and gave the company a “neutral” rating in a research 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 stock. According to data from MarketBeat.com, Kimberly-Clark presently has an average rating of “Hold” and an average price target of $114.93.

Insiders Place Their Bets

In other news, VP Andrew Scribner sold 4,095 shares of the stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katy Chen sold 1,596 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 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 quarter. Insiders own 0.75% of the company’s stock.

Kimberly-Clark Price Performance

Shares of NASDAQ:KMB opened at $102.29 on Friday. Kimberly-Clark Corporation has a one year low of $92.42 and a one year high of $137.46. The stock has a fifty day moving average of $97.79 and a 200-day moving average of $100.96. The company has a market capitalization of $33.95 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 4.59 and a beta of 0.28. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.55 and a current ratio of 0.77.

Kimberly-Clark (NASDAQ:KMB) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Kimberly-Clark Corporation will post 7.48 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, June 5th. Kimberly-Clark’s dividend payout ratio is 80.38%.

About Kimberly-Clark

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.