Cornerstone Advisors LLC Has $771,000 Position in Kimberly-Clark Corporation $KMB

Cornerstone Advisors LLC lessened its holdings in Kimberly-Clark Corporation (NASDAQ:KMB) by 44.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,200 shares of the company’s stock after selling 4,900 shares during the period. Cornerstone Advisors LLC’s holdings in Kimberly-Clark were worth $771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Kimberly-Clark by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 40,435,476 shares of the company’s stock worth $5,212,942,000 after buying an additional 5,200,011 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kimberly-Clark by 1.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,482,657 shares of the company’s stock valued at $1,480,344,000 after buying an additional 218,644 shares in the last quarter. Geode Capital Management LLC grew its position in Kimberly-Clark by 4.6% in the second quarter. Geode Capital Management LLC now owns 8,254,137 shares of the company’s stock valued at $1,065,423,000 after acquiring an additional 363,865 shares during the period. Invesco Ltd. raised its stake in Kimberly-Clark by 4.6% during the second quarter. Invesco Ltd. now owns 6,097,800 shares of the company’s stock worth $786,128,000 after acquiring an additional 270,134 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Kimberly-Clark during the second quarter valued at $556,114,000. Institutional investors own 76.29% of the company’s stock.

Kimberly-Clark Stock Performance

Shares of NASDAQ:KMB opened at $108.68 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 3.97. Kimberly-Clark Corporation has a 1-year low of $96.26 and a 1-year high of $150.45. The stock has a market capitalization of $36.07 billion, a P/E ratio of 17.90, a P/E/G ratio of 4.21 and a beta of 0.26. The business has a 50-day moving average price of $101.94 and a two-hundred day moving average price of $113.37.

Kimberly-Clark (NASDAQ:KMB) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.81 by $0.05. Kimberly-Clark had a net margin of 11.73% and a return on equity of 170.48%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the company earned $1.50 EPS. Kimberly-Clark’s revenue was down .6% on a year-over-year basis. Equities analysts predict that Kimberly-Clark Corporation will post 7.5 earnings per share for the current year.

Kimberly-Clark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th will be paid a $1.28 dividend. This is an increase from Kimberly-Clark’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.7%. Kimberly-Clark’s dividend payout ratio (DPR) is currently 83.03%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KMB. TD Cowen lowered their target price on shares of Kimberly-Clark from $112.00 to $105.00 and set a “hold” rating on the stock in a report on Thursday, January 8th. Argus raised shares of Kimberly-Clark from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Thursday, November 13th. Evercore reiterated an “in-line” rating and issued a $120.00 target price (down previously from $150.00) on shares of Kimberly-Clark in a research note on Tuesday, November 4th. Wells Fargo & Company set a $110.00 target price on Kimberly-Clark in a report on Tuesday. Finally, Citigroup dropped their price target on Kimberly-Clark from $95.00 to $90.00 and set a “sell” rating for the company in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Kimberly-Clark presently has a consensus rating of “Hold” and an average target price of $119.00.

Insider Activity

In related news, VP Andrew Scribner sold 3,049 shares of Kimberly-Clark stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $104.29, for a total transaction of $317,980.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is owned by corporate insiders.

About Kimberly-Clark

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.