Mackenzie Financial Corp Reduces Stock Position in Kimberly-Clark Co. (NYSE:KMB)

Mackenzie Financial Corp trimmed its position in Kimberly-Clark Co. (NYSE:KMB) by 10.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 65,948 shares of the company’s stock after selling 7,510 shares during the quarter. Mackenzie Financial Corp’s holdings in Kimberly-Clark were worth $9,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of KMB. CX Institutional raised its position in Kimberly-Clark by 1.2% during the 2nd quarter. CX Institutional now owns 5,968 shares of the company’s stock worth $825,000 after buying an additional 71 shares during the last quarter. Capital Investment Counsel Inc raised its holdings in shares of Kimberly-Clark by 0.8% during the first quarter. Capital Investment Counsel Inc now owns 10,019 shares of the company’s stock worth $1,296,000 after purchasing an additional 75 shares during the last quarter. Connecticut Wealth Management LLC lifted its position in Kimberly-Clark by 4.6% during the first quarter. Connecticut Wealth Management LLC now owns 1,755 shares of the company’s stock valued at $227,000 after purchasing an additional 77 shares during the period. Equitable Trust Co. boosted its holdings in Kimberly-Clark by 0.9% in the second quarter. Equitable Trust Co. now owns 9,066 shares of the company’s stock valued at $1,253,000 after purchasing an additional 80 shares during the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. boosted its holdings in Kimberly-Clark by 1.6% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 5,093 shares of the company’s stock valued at $659,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Kimberly-Clark from $123.00 to $135.00 and gave the company an “underweight” rating in a report on Monday, July 22nd. Piper Sandler upped their price objective on Kimberly-Clark from $167.00 to $174.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Wells Fargo & Company cut their target price on shares of Kimberly-Clark from $138.00 to $134.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Bank of America raised shares of Kimberly-Clark from an “underperform” rating to a “buy” rating and increased their price target for the stock from $115.00 to $160.00 in a report on Thursday, June 13th. Finally, Argus raised shares of Kimberly-Clark to a “hold” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $145.67.

Insiders Place Their Bets

In other news, insider Gonzalo Uribe sold 1,780 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $140.84, for a total value of $250,695.20. Following the transaction, the insider now directly owns 7,377 shares in the company, valued at approximately $1,038,976.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Kimberly-Clark news, insider Jeffrey P. Melucci sold 37,699 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $141.42, for a total transaction of $5,331,392.58. Following the sale, the insider now directly owns 19,935 shares in the company, valued at $2,819,207.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gonzalo Uribe sold 1,780 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $140.84, for a total transaction of $250,695.20. Following the completion of the transaction, the insider now directly owns 7,377 shares of the company’s stock, valued at approximately $1,038,976.68. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Kimberly-Clark Stock Performance

Shares of NYSE:KMB opened at $142.29 on Tuesday. The firm has a market capitalization of $47.91 billion, a PE ratio of 26.16, a P/E/G ratio of 3.00 and a beta of 0.39. Kimberly-Clark Co. has a 1 year low of $116.32 and a 1 year high of $149.30. The business’s 50 day moving average price is $142.13 and its 200-day moving average price is $136.83. The company has a debt-to-equity ratio of 5.59, a current ratio of 0.85 and a quick ratio of 0.58.

Kimberly-Clark (NYSE:KMB) last released its earnings results on Tuesday, July 23rd. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.25. Kimberly-Clark had a net margin of 11.28% and a return on equity of 223.55%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the company posted $1.65 EPS. The business’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts expect that Kimberly-Clark Co. will post 7.25 earnings per share for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 6th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, September 6th. Kimberly-Clark’s dividend payout ratio (DPR) is presently 89.71%.

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.