Cannell & Spears LLC Has $2.69 Million Holdings in Kimberly-Clark Corporation $KMB

Cannell & Spears LLC cut its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 19.5% during the 1st quarter, Holdings Channel reports. The firm owned 27,916 shares of the company’s stock after selling 6,762 shares during the period. Cannell & Spears LLC’s holdings in Kimberly-Clark were worth $2,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Kimberly-Clark by 59.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,856 shares of the company’s stock worth $2,012,000 after acquiring an additional 7,738 shares during the period. Renaissance Technologies LLC lifted its position in shares of Kimberly-Clark by 54.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,317,600 shares of the company’s stock valued at $127,109,000 after acquiring an additional 466,400 shares during the period. Bollard Group LLC grew its holdings in shares of Kimberly-Clark by 112.4% during the 1st quarter. Bollard Group LLC now owns 19,404 shares of the company’s stock worth $1,872,000 after purchasing an additional 10,270 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Kimberly-Clark by 17.4% in the first quarter. Gamco Investors INC. ET AL now owns 3,941 shares of the company’s stock worth $380,000 after purchasing an additional 583 shares during the period. Finally, Compound Planning Inc. bought a new position in shares of Kimberly-Clark in the first quarter worth $287,000. 76.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kimberly-Clark

In related news, VP Andrew Scribner sold 4,095 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total value of $401,310.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katy Chen sold 1,596 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $95.34, for a total transaction of $152,162.64. Following the completion of the sale, the insider owned 8,362 shares in the company, valued at $797,233.08. This represents a 16.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 7,096 shares of company stock worth $689,687 over the last ninety days. 0.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KMB shares. Piper Sandler upped their price objective on shares of Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Kimberly-Clark in a report on Wednesday, June 24th. Barclays boosted their target price on shares of Kimberly-Clark from $101.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday. Bank of America cut their price target on shares of Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, April 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Kimberly-Clark currently has a consensus rating of “Hold” and an average target price of $117.93.

Kimberly-Clark Price Performance

Shares of KMB stock opened at $109.70 on Friday. The business has a fifty day simple moving average of $104.38 and a 200 day simple moving average of $101.99. The company has a market cap of $36.41 billion, a P/E ratio of 17.22, a P/E/G ratio of 4.92 and a beta of 0.26. 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 twelve month low of $92.42 and a twelve month high of $137.46.

Kimberly-Clark (NASDAQ:KMB) last released its earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 earnings per share. On average, sell-side analysts forecast that Kimberly-Clark Corporation will post 7.47 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th were paid a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Friday, June 5th. Kimberly-Clark’s dividend payout ratio (DPR) is presently 80.38%.

Kimberly-Clark 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.