PNC Financial Services Group Inc. Has $45.85 Million Stock Position in Kimberly-Clark Corporation $KMB

PNC Financial Services Group Inc. lowered its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 8.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 454,413 shares of the company’s stock after selling 40,663 shares during the period. PNC Financial Services Group Inc.’s holdings in Kimberly-Clark were worth $45,846,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of KMB. Brighton Jones LLC lifted its holdings in shares of Kimberly-Clark by 74.1% during the fourth quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock worth $851,000 after buying an additional 2,765 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Kimberly-Clark by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company’s stock worth $46,923,000 after buying an additional 24,698 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Kimberly-Clark by 44.3% during the second quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company’s stock worth $36,698,000 after buying an additional 87,455 shares in the last quarter. Main Street Financial Solutions LLC lifted its holdings in shares of Kimberly-Clark by 11.0% during the second quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock worth $424,000 after buying an additional 326 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in shares of Kimberly-Clark by 20.5% during the second quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock worth $1,372,000 after buying an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.

Kimberly-Clark Price Performance

KMB stock opened at $98.73 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 3.38. Kimberly-Clark Corporation has a 12 month low of $92.42 and a 12 month high of $144.30. The firm has a market cap of $32.77 billion, a P/E ratio of 15.50, a P/E/G ratio of 4.38 and a beta of 0.29. The company’s 50-day moving average price is $97.71 and its two-hundred day moving average price is $101.40.

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

Kimberly-Clark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be paid a dividend of $1.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.12 annualized dividend and a yield of 5.2%. Kimberly-Clark’s payout ratio is presently 80.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KMB. Piper Sandler dropped their target price on Kimberly-Clark from $133.00 to $114.00 and set an “overweight” rating for the company in a report on Friday, March 13th. Barclays reduced their price objective on shares of Kimberly-Clark from $105.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Wells Fargo & Company decreased their target price on shares of Kimberly-Clark from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Zacks Research lowered shares of Kimberly-Clark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, UBS Group raised their target price on shares of Kimberly-Clark from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Kimberly-Clark presently has a consensus rating of “Hold” and an average price target of $114.93.

Insider Activity

In other Kimberly-Clark news, insider Katy Chen sold 1,596 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the completion of the transaction, the insider owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. The trade was a 16.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Andrew Scribner sold 4,095 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total value of $401,310.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 7,096 shares of company stock valued at $689,687. Insiders own 0.75% of the company’s stock.

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.