Connors Investor Services Inc. Sells 100 Shares of Kimberly-Clark Co. $KMB

Connors Investor Services Inc. cut its holdings in Kimberly-Clark Co. (NYSE:KMB) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,930 shares of the company’s stock after selling 100 shares during the period. Connors Investor Services Inc.’s holdings in Kimberly-Clark were worth $378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of Kimberly-Clark during the first quarter valued at approximately $12,854,000. Elevate Capital Advisors LLC increased its position in shares of Kimberly-Clark by 46.4% during the first quarter. Elevate Capital Advisors LLC now owns 12,444 shares of the company’s stock valued at $1,770,000 after acquiring an additional 3,944 shares during the last quarter. Citigroup Inc. increased its position in shares of Kimberly-Clark by 86.8% during the first quarter. Citigroup Inc. now owns 509,585 shares of the company’s stock valued at $72,473,000 after acquiring an additional 236,733 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Kimberly-Clark by 270.2% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 984,695 shares of the company’s stock valued at $140,043,000 after acquiring an additional 718,720 shares during the last quarter. Finally, United Community Bank increased its position in shares of Kimberly-Clark by 340.0% during the first quarter. United Community Bank now owns 18,518 shares of the company’s stock valued at $2,634,000 after acquiring an additional 14,309 shares during the last quarter. 76.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on KMB shares. JPMorgan Chase & Co. decreased their price target on Kimberly-Clark from $144.00 to $127.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. UBS Group decreased their target price on Kimberly-Clark from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Evercore ISI reduced their target price on shares of Kimberly-Clark from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, September 22nd. Citigroup cut their price target on Kimberly-Clark from $118.00 to $113.00 and set a “sell” rating for the company in a report on Thursday, October 9th. Finally, Piper Sandler cut their price target on Kimberly-Clark from $149.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.00.

Kimberly-Clark Trading Up 0.1%

NYSE KMB opened at $120.21 on Thursday. The company has a market capitalization of $39.88 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 4.46 and a beta of 0.30. The stock’s 50-day simple moving average is $125.81 and its two-hundred day simple moving average is $130.93. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 7.05. Kimberly-Clark Co. has a twelve month low of $118.18 and a twelve month high of $150.45.

Kimberly-Clark (NYSE:KMB) last released its quarterly earnings data on Friday, August 1st. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.67 by $0.25. Kimberly-Clark had a return on equity of 201.43% and a net margin of 12.69%.The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the business earned $1.96 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts forecast that Kimberly-Clark Co. will post 7.5 EPS for the current fiscal year.

Kimberly-Clark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, September 5th. Kimberly-Clark’s payout ratio is currently 69.42%.

About Kimberly-Clark

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products in the United States. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The company’s Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Sweety, Kotex, U by Kotex, Intimus, Thinx, Poise, Depend, Plenitud, Softex, and other brand names.