Smith Salley & Associates cut its stake in shares of Kimberly-Clark Corp. (NYSE:KMB) by 24.5% during the second quarter, Holdings Channel reports. The institutional investor owned 14,345 shares of the company’s stock after selling 4,663 shares during the period. Smith Salley & Associates’ holdings in Kimberly-Clark Corp. were worth $1,972,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Capital Management Corp VA raised its stake in shares of Kimberly-Clark Corp. by 0.5% in the second quarter. Capital Management Corp VA now owns 1,778 shares of the company’s stock valued at $244,000 after buying an additional 8 shares in the last quarter. Hanson & Doremus Investment Management raised its position in Kimberly-Clark Corp. by 0.9% in the second quarter. Hanson & Doremus Investment Management now owns 1,145 shares of the company’s stock valued at $157,000 after buying an additional 10 shares during the period. Adirondack Trust Co. raised its position in Kimberly-Clark Corp. by 0.4% in the second quarter. Adirondack Trust Co. now owns 2,643 shares of the company’s stock valued at $363,000 after buying an additional 11 shares during the period. Kistler Tiffany Companies LLC raised its position in Kimberly-Clark Corp. by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 3,018 shares of the company’s stock valued at $415,000 after buying an additional 13 shares during the period. Finally, Cypress Wealth Advisors LLC raised its position in Kimberly-Clark Corp. by 0.3% in the first quarter. Cypress Wealth Advisors LLC now owns 4,932 shares of the company’s stock valued at $663,000 after buying an additional 16 shares during the period. 68.31% of the stock is owned by hedge funds and other institutional investors.
Kimberly-Clark Corp. (NYSE:KMB) traded up 0.12% during midday trading on Tuesday, reaching $120.83. The company’s stock had a trading volume of 676,182 shares. The stock has a market capitalization of $43.45 billion, a price-to-earnings ratio of 22.40 and a beta of 0.42. Kimberly-Clark Corp. has a 52-week low of $116.52 and a 52-week high of $138.87. The firm has a 50-day moving average price of $124.51 and a 200 day moving average price of $129.48.
Kimberly-Clark Corp. (NYSE:KMB) last announced its quarterly earnings results on Monday, July 25th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.05. The firm earned $4.60 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Kimberly-Clark Corp. had a net margin of 10.70% and a return on equity of 815.72%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. Equities research analysts predict that Kimberly-Clark Corp. will post $6.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Wednesday, September 7th. Kimberly-Clark Corp.’s dividend payout ratio is 68.40%.
Several equities analysts have recently commented on KMB shares. Zacks Investment Research raised Kimberly-Clark Corp. from a “hold” rating to a “buy” rating and set a $146.00 target price for the company in a report on Tuesday, June 28th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $154.00 target price on shares of Kimberly-Clark Corp. in a report on Monday, September 12th. Deutsche Bank AG reaffirmed a “hold” rating and set a $132.00 target price (up from $130.00) on shares of Kimberly-Clark Corp. in a report on Sunday, July 24th. B. Riley reaffirmed a “neutral” rating and set a $124.00 target price on shares of Kimberly-Clark Corp. in a report on Sunday, July 31st. Finally, Citigroup Inc. upped their target price on Kimberly-Clark Corp. from $135.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $135.22.
In other news, Chairman Thomas J. Falk sold 206,445 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $133.40, for a total transaction of $27,539,763.00. Following the completion of the sale, the chairman now owns 125,574 shares of the company’s stock, valued at $16,751,571.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Lizanne C. Gottung sold 6,204 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $132.17, for a total transaction of $819,982.68. Following the sale, the senior vice president now directly owns 11,797 shares of the company’s stock, valued at approximately $1,559,209.49. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
About Kimberly-Clark Corp.
Kimberly-Clark Corporation is engaged in the manufacturing and marketing of a range of products made from natural or synthetic fibers. The Company operates through three segments: Personal Care, Consumer Tissue and K-C Professional. The Company’s Personal Care segment offers various solutions and products, such as disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products.