Nexus Investment Management Inc. Reduces Stake in Kimberly Clark Corp (NYSE:KMB)

Nexus Investment Management Inc. trimmed its stake in Kimberly Clark Corp (NYSE:KMB) by 44.3% during the third quarter, Holdings Channel reports. The fund owned 2,950 shares of the company’s stock after selling 2,350 shares during the period. Nexus Investment Management Inc.’s holdings in Kimberly Clark were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of Kimberly Clark during the 2nd quarter valued at approximately $25,000. HMS Capital Management LLC purchased a new stake in shares of Kimberly Clark during the 2nd quarter valued at approximately $28,000. SRS Capital Advisors Inc. purchased a new stake in shares of Kimberly Clark during the 2nd quarter valued at approximately $33,000. Phocas Financial Corp. purchased a new stake in shares of Kimberly Clark during the 2nd quarter valued at approximately $33,000. Finally, Manchester Financial Inc. purchased a new stake in shares of Kimberly Clark during the 2nd quarter valued at approximately $34,000. Institutional investors own 71.86% of the company’s stock.

A number of brokerages recently commented on KMB. Wells Fargo & Co restated a “hold” rating and set a $130.00 price target on shares of Kimberly Clark in a research note on Tuesday, July 23rd. Atlantic Securities upgraded shares of Kimberly Clark from an “underweight” rating to a “neutral” rating in a research note on Wednesday, July 24th. Deutsche Bank upped their price target on shares of Kimberly Clark from $113.00 to $122.00 and gave the company a “sell” rating in a research note on Monday, June 17th. JPMorgan Chase & Co. increased their target price on shares of Kimberly Clark from $151.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Zacks Investment Research upgraded shares of Kimberly Clark from a “sell” rating to a “hold” rating and set a $150.00 target price on the stock in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $136.77.

In other news, SVP Jeffrey P. Melucci sold 26,839 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $141.17, for a total value of $3,788,861.63. Following the transaction, the senior vice president now owns 17,304 shares of the company’s stock, valued at approximately $2,442,805.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aaron Powell sold 3,964 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $137.95, for a total transaction of $546,833.80. Following the completion of the transaction, the insider now directly owns 5,780 shares in the company, valued at approximately $797,351. The disclosure for this sale can be found here. Insiders sold a total of 44,584 shares of company stock worth $6,242,483 in the last three months. Insiders own 0.85% of the company’s stock.

NYSE KMB traded up $0.24 on Wednesday, hitting $137.35. The stock had a trading volume of 1,182,638 shares, compared to its average volume of 1,741,612. Kimberly Clark Corp has a 52-week low of $100.32 and a 52-week high of $143.50. The company has a debt-to-equity ratio of 134.02, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market capitalization of $48.73 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 3.88 and a beta of 0.55. The firm has a 50-day moving average of $138.38 and a 200-day moving average of $133.15.

Kimberly Clark (NYSE:KMB) last posted its earnings results on Tuesday, July 23rd. The company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.03. Kimberly Clark had a net margin of 9.80% and a return on equity of 27,094.12%. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the prior year, the company posted $1.59 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, research analysts anticipate that Kimberly Clark Corp will post 6.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 6th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, September 5th. Kimberly Clark’s payout ratio is 62.33%.

About Kimberly Clark

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care, consumer tissue, and professional products worldwide. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Kotex, U by Kotex, Intimus, Depend, Plenitud, Poise, and other brand names.

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Institutional Ownership by Quarter for Kimberly Clark (NYSE:KMB)

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