Truist Financial Corp Has $26.27 Million Stake in Kimberly-Clark Co. (NYSE:KMB)

Truist Financial Corp cut its stake in Kimberly-Clark Co. (NYSE:KMB) by 20.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 190,078 shares of the company’s stock after selling 48,523 shares during the quarter. Truist Financial Corp’s holdings in Kimberly-Clark were worth $26,269,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Kimberly-Clark by 19.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,893,146 shares of the company’s stock worth $762,279,000 after purchasing an additional 944,920 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of Kimberly-Clark by 13,720.0% during the 2nd quarter. Wulff Hansen & CO. now owns 641,524 shares of the company’s stock worth $88,659,000 after buying an additional 636,882 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Kimberly-Clark by 48.4% in the 2nd quarter. Marshall Wace LLP now owns 1,545,147 shares of the company’s stock worth $213,539,000 after buying an additional 503,839 shares during the last quarter. Capital World Investors grew its holdings in shares of Kimberly-Clark by 23.8% in the fourth quarter. Capital World Investors now owns 1,926,702 shares of the company’s stock valued at $234,114,000 after acquiring an additional 370,094 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Kimberly-Clark by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,934,655 shares of the company’s stock valued at $267,383,000 after acquiring an additional 354,501 shares during the last quarter. Institutional investors own 76.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KMB. Royal Bank of Canada restated an “outperform” rating and issued a $165.00 price objective on shares of Kimberly-Clark in a research note on Wednesday, July 24th. Argus upgraded shares of Kimberly-Clark to a “hold” rating in a report on Friday, July 26th. Piper Sandler boosted their target price on shares of Kimberly-Clark from $167.00 to $174.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Wells Fargo & Company reduced their price objective on Kimberly-Clark from $138.00 to $134.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com lowered Kimberly-Clark from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $145.67.

Kimberly-Clark Price Performance

Shares of NYSE:KMB opened at $140.04 on Friday. The company has a 50 day moving average of $142.26 and a 200 day moving average of $137.01. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 5.59. The stock has a market cap of $47.15 billion, a P/E ratio of 25.74, a P/E/G ratio of 3.00 and a beta of 0.39. Kimberly-Clark Co. has a 12 month low of $116.32 and a 12 month high of $149.30.

Kimberly-Clark (NYSE:KMB) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.96 EPS for the quarter, beating 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 firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the business earned $1.65 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Kimberly-Clark Co. will post 7.25 EPS for the current fiscal year.

Kimberly-Clark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 6th were paid a $1.22 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.88 dividend on an annualized basis and a yield of 3.48%. Kimberly-Clark’s dividend payout ratio is currently 89.71%.

Insider Buying and Selling at Kimberly-Clark

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

Kimberly-Clark Profile

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.