Kimberly-Clark Corporation $KMB Stock Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 404,192 shares of the company’s stock after selling 42,621 shares during the quarter. King Luther Capital Management Corp owned approximately 0.12% of Kimberly-Clark worth $39,380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lynch Investment Planning LLC acquired a new stake in Kimberly-Clark during the third quarter worth approximately $26,000. John Boyer Inc. purchased a new stake in Kimberly-Clark in the 3rd quarter worth approximately $28,000. Edmond DE Rothschild Holding S.A. acquired a new position in Kimberly-Clark in the 2nd quarter valued at $32,000. Ancora Advisors LLC acquired a new position in Kimberly-Clark in the 2nd quarter valued at $32,000. Finally, Clearstead Trust LLC purchased a new position in shares of Kimberly-Clark during the 2nd quarter worth $33,000. 76.29% of the stock is currently owned by hedge funds and other institutional investors.

Kimberly-Clark Price Performance

KMB stock opened at $108.86 on Thursday. The stock has a 50-day moving average price of $102.72 and a two-hundred day moving average price of $103.36. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $116.82. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 1.91. The company has a market cap of $36.21 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 5.78 and a beta of 0.25.

Kimberly-Clark (NASDAQ:KMB) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.65 by $0.05. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. Kimberly-Clark had a return on equity of 114.93% and a net margin of 19.93%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. As a group, research analysts predict that Kimberly-Clark Corporation will post 7.40 EPS for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Friday, December 4th will be given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, December 4th. Kimberly-Clark’s payout ratio is 51.66%.

Wall Street Analyst Weigh In

KMB has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on Kimberly-Clark from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, September 25th. Canaccord Genuity Group assumed coverage on Kimberly-Clark in a research note on Friday, October 23rd. They issued a “hold” rating and a $105.00 target price for the company. DA Davidson increased their target price on Kimberly-Clark from $106.00 to $116.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Piper Sandler raised their price target on Kimberly-Clark from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kimberly-Clark in a report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Kimberly-Clark presently has a consensus rating of “Hold” and an average target price of $113.20.

About Kimberly-Clark

Kimberly-Clark Corporation is a global consumer products company that develops and sells personal care, tissue and hygiene products. Its offerings include diapers and training pants, feminine care and adult incontinence products, facial and bathroom tissues, paper towels and wipes. The company’s portfolio includes brands such as Huggies, Kleenex, Scott, Cottonelle, Depend, Poise and Kotex. Kimberly-Clark also provides products for businesses and institutions, including workplace and professional-use tissue and hygiene products.