DAVENPORT & Co LLC Increases Holdings in Kimberly-Clark Corporation $KMB

DAVENPORT & Co LLC lifted its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 6.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 94,928 shares of the company’s stock after acquiring an additional 5,831 shares during the quarter. DAVENPORT & Co LLC’s holdings in Kimberly-Clark were worth $11,802,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KMB. Meriwether Wealth & Planning LLC purchased a new stake in Kimberly-Clark in the third quarter worth about $214,000. Welch Group LLC raised its holdings in shares of Kimberly-Clark by 2.3% in the 3rd quarter. Welch Group LLC now owns 376,064 shares of the company’s stock valued at $46,760,000 after purchasing an additional 8,513 shares in the last quarter. Fourpath Capital Management LLC lifted its position in shares of Kimberly-Clark by 26.8% in the 3rd quarter. Fourpath Capital Management LLC now owns 9,093 shares of the company’s stock worth $1,131,000 after purchasing an additional 1,924 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Kimberly-Clark by 4.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,327 shares of the company’s stock worth $1,533,000 after purchasing an additional 523 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of Kimberly-Clark by 151.9% during the third quarter. Cranbrook Wealth Management LLC now owns 529 shares of the company’s stock valued at $66,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 76.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KMB shares. Morgan Stanley dropped their target price on Kimberly-Clark from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 4th. Argus upgraded Kimberly-Clark from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Thursday, November 13th. Cowen reaffirmed a “hold” rating on shares of Kimberly-Clark in a research report on Tuesday, November 4th. BNP Paribas Exane reduced their target price on shares of Kimberly-Clark from $127.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, December 1st. Finally, Evercore ISI restated an “in-line” rating and issued a $120.00 price target (down from $150.00) on shares of Kimberly-Clark in a report on Tuesday, November 4th. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Kimberly-Clark currently has a consensus rating of “Hold” and an average price target of $124.62.

Kimberly-Clark Trading Up 0.9%

Shares of NASDAQ:KMB opened at $101.01 on Thursday. Kimberly-Clark Corporation has a 52-week low of $99.22 and a 52-week high of $150.45. The stock has a market cap of $33.52 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 4.35 and a beta of 0.25. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 4.41. The business has a 50-day moving average price of $107.49 and a 200-day moving average price of $121.10.

Kimberly-Clark (NASDAQ:KMB) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.37. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.14 billion. Kimberly-Clark had a net margin of 10.89% and a return on equity of 183.11%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 earnings per share. Equities analysts predict that Kimberly-Clark Corporation will post 7.5 EPS for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be given a dividend of $1.26 per share. The ex-dividend date is Friday, December 5th. This represents a $5.04 dividend on an annualized basis and a yield of 5.0%. Kimberly-Clark’s dividend payout ratio is currently 85.28%.

Kimberly-Clark Company Profile

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.