Allspring Global Investments Holdings LLC Sells 121,366 Shares of Kimberly-Clark Co. $KMB

Allspring Global Investments Holdings LLC lowered its stake in shares of Kimberly-Clark Co. (NYSE:KMB) by 73.7% during the second quarter, Holdings Channel reports. The fund owned 43,260 shares of the company’s stock after selling 121,366 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kimberly-Clark were worth $5,693,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Investment Research & Advisory Group Inc. bought a new position in shares of Kimberly-Clark in the 2nd quarter valued at about $25,000. First Pacific Financial bought a new position in shares of Kimberly-Clark in the 1st quarter valued at about $26,000. Financial Network Wealth Advisors LLC boosted its stake in shares of Kimberly-Clark by 176.1% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 196 shares of the company’s stock valued at $28,000 after purchasing an additional 125 shares during the last quarter. Elequin Capital LP bought a new position in shares of Kimberly-Clark in the 1st quarter valued at about $36,000. Finally, Rossby Financial LCC bought a new position in shares of Kimberly-Clark in the 1st quarter valued at about $37,000. Institutional investors own 76.29% of the company’s stock.

Kimberly-Clark Stock Performance

Shares of KMB stock opened at $121.44 on Monday. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.54 and a current ratio of 0.80. The company has a market capitalization of $40.29 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 4.46 and a beta of 0.30. The company’s 50 day moving average price is $126.65 and its two-hundred day moving average price is $131.20. Kimberly-Clark Co. has a 52 week low of $118.18 and a 52 week high of $150.45.

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

Kimberly-Clark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, September 5th. Kimberly-Clark’s dividend payout ratio (DPR) is 69.42%.

Analyst Ratings Changes

KMB has been the topic of a number of analyst reports. Citigroup cut their price target on shares of Kimberly-Clark from $118.00 to $113.00 and set a “sell” rating on the stock in a research report on Thursday, October 9th. Piper Sandler cut their price target on shares of Kimberly-Clark from $149.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, October 2nd. UBS Group cut their price target on shares of Kimberly-Clark from $140.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Wells Fargo & Company cut their price target on shares of Kimberly-Clark from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Finally, Barclays cut their price target on shares of Kimberly-Clark from $139.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $137.00.

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.