Wellington Management Group LLP Sells 2,470,167 Shares of Kimberly-Clark Corporation $KMB

Wellington Management Group LLP cut its position in Kimberly-Clark Corporation (NASDAQ:KMB) by 27.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,486,357 shares of the company’s stock after selling 2,470,167 shares during the period. Wellington Management Group LLP’s holdings in Kimberly-Clark were worth $712,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Kimberly-Clark during the 2nd quarter valued at $3,547,915,000. State Street Corp raised its holdings in Kimberly-Clark by 1.4% during the fourth quarter. State Street Corp now owns 21,125,118 shares of the company’s stock valued at $2,157,746,000 after acquiring an additional 294,228 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Kimberly-Clark by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,917,154 shares of the company’s stock valued at $1,202,322,000 after acquiring an additional 299,382 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kimberly-Clark by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 8,322,198 shares of the company’s stock worth $836,216,000 after acquiring an additional 65,619 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Kimberly-Clark by 3.3% during the second quarter. Bank of America Corp DE now owns 6,881,641 shares of the company’s stock worth $755,398,000 after purchasing an additional 219,742 shares in the last quarter. 76.29% of the stock is currently owned by institutional investors.

Kimberly-Clark Stock Performance

NASDAQ KMB opened at $109.55 on Friday. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.91 and a quick ratio of 0.69. Kimberly-Clark Corporation has a 1-year low of $92.42 and a 1-year high of $131.53. The business has a 50 day simple moving average of $109.66 and a two-hundred day simple moving average of $103.71. The stock has a market capitalization of $36.43 billion, a PE ratio of 18.63, a P/E/G ratio of 5.22 and a beta of 0.26.

Kimberly-Clark (NASDAQ:KMB) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.21). Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The business had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the company earned $1.92 EPS. Kimberly-Clark’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts predict that Kimberly-Clark Corporation will post 7.42 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, September 4th. Kimberly-Clark’s dividend payout ratio is currently 87.07%.

Analysts Set New Price Targets

Several research analysts have weighed in on KMB shares. UBS Group upped their price target on Kimberly-Clark from $115.00 to $116.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. TD Cowen boosted their target price on shares of Kimberly-Clark from $96.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Seaport Research Partners upgraded shares of Kimberly-Clark to a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Kimberly-Clark in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $117.93.

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.