CIBC Bancorp USA Inc. Invests $15.45 Million in Kimberly-Clark Corporation $KMB

CIBC Bancorp USA Inc. bought a new stake in Kimberly-Clark Corporation (NASDAQ:KMB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 124,224 shares of the company’s stock, valued at approximately $15,446,000.

Several other hedge funds also recently made changes to their positions in KMB. Assenagon Asset Management S.A. lifted its position in Kimberly-Clark by 186.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 43,492 shares of the company’s stock valued at $5,408,000 after acquiring an additional 28,335 shares during the period. Nordea Investment Management AB grew its holdings in Kimberly-Clark by 2.5% in the third quarter. Nordea Investment Management AB now owns 2,439,692 shares of the company’s stock worth $301,448,000 after purchasing an additional 58,978 shares during the period. Franklin Resources Inc. increased its stake in shares of Kimberly-Clark by 3.4% during the second quarter. Franklin Resources Inc. now owns 591,145 shares of the company’s stock valued at $76,234,000 after purchasing an additional 19,298 shares in the last quarter. Synergy Asset Management LLC increased its stake in shares of Kimberly-Clark by 100.0% during the third quarter. Synergy Asset Management LLC now owns 38,260 shares of the company’s stock valued at $4,932,000 after purchasing an additional 19,130 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its stake in shares of Kimberly-Clark by 5,751.6% during the second quarter. Hudson Bay Capital Management LP now owns 94,211 shares of the company’s stock valued at $12,146,000 after purchasing an additional 92,601 shares in the last quarter. 76.29% of the stock is currently owned by institutional investors.

Kimberly-Clark Stock Down 0.1%

Kimberly-Clark stock opened at $98.58 on Friday. Kimberly-Clark Corporation has a one year low of $96.26 and a one year high of $147.12. The stock has a fifty day moving average of $103.44 and a 200 day moving average of $109.42. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.54 and a current ratio of 0.75. The stock has a market cap of $32.72 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 3.51 and a beta of 0.24.

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

Kimberly-Clark Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Friday, March 6th will be given a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a yield of 5.2%. This is a positive change from Kimberly-Clark’s previous quarterly dividend of $1.26. The ex-dividend date is Friday, March 6th. Kimberly-Clark’s dividend payout ratio (DPR) is presently 84.35%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Kimberly-Clark in a research report on Monday, December 29th. Zacks Research cut Kimberly-Clark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Barclays set a $102.00 target price on Kimberly-Clark in a report on Friday, January 16th. BNP Paribas Exane reissued a “neutral” rating and issued a $110.00 target price on shares of Kimberly-Clark in a research note on Monday, December 1st. Finally, Citigroup reduced 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. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $116.42.

Insider Buying and Selling

In other Kimberly-Clark news, VP Andrew Scribner sold 3,049 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were 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 can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.

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.