Waverly Advisors LLC Reduces Stake in Kimberly-Clark Corporation $KMB

Waverly Advisors LLC trimmed its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 65.4% during the first quarter, Holdings Channel reports. The firm owned 37,713 shares of the company’s stock after selling 71,317 shares during the quarter. Waverly Advisors LLC’s holdings in Kimberly-Clark were worth $3,638,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KMB. Vanguard Group Inc. raised its stake in shares of Kimberly-Clark by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 40,846,734 shares of the company’s stock worth $4,121,027,000 after buying an additional 315,981 shares during the last quarter. State Street Corp grew its stake in Kimberly-Clark by 1.4% in the 4th 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 last quarter. Charles Schwab Investment Management Inc. grew its stake in Kimberly-Clark by 2.6% in 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 acquiring an additional 299,382 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 acquiring an additional 65,619 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Kimberly-Clark by 50.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,839,572 shares of the company’s stock worth $790,934,000 after acquiring an additional 2,628,206 shares during the last quarter. Hedge funds and other institutional investors own 76.29% of the company’s stock.

Insiders Place Their Bets

In other news, VP Andrew Scribner sold 4,095 shares of Kimberly-Clark 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. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Katy Chen sold 1,596 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the sale, the insider directly owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. This trade represents 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. Corporate insiders own 0.75% of the company’s stock.

Kimberly-Clark Price Performance

Shares of NASDAQ:KMB opened at $113.21 on Thursday. The company has a market cap of $37.58 billion, a P/E ratio of 17.77, a P/E/G ratio of 5.07 and a beta of 0.26. The business has a fifty day simple moving average of $105.33 and a 200-day simple moving average of $102.33. Kimberly-Clark Corporation has a 52 week low of $92.42 and a 52 week high of $137.46. 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 (NASDAQ:KMB) last posted 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 net margin of 12.80% and a return on equity of 152.79%. 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 company posted $1.93 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Kimberly-Clark Corporation will post 7.47 EPS for the current year.

Kimberly-Clark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th were issued a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, June 5th. Kimberly-Clark’s dividend payout ratio is presently 80.38%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Piper Sandler lifted their price objective on Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Bank of America reduced their target price on Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Wells Fargo & Company increased their target price on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, Barclays raised their price target on Kimberly-Clark from $101.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. 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 company. According to data from MarketBeat.com, Kimberly-Clark currently has an average rating of “Hold” and a consensus target price 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.