Bank of Nova Scotia Decreases Stock Holdings in Kimberly-Clark Corporation $KMB

Bank of Nova Scotia trimmed its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 18.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,150 shares of the company’s stock after selling 32,723 shares during the period. Bank of Nova Scotia’s holdings in Kimberly-Clark were worth $13,520,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Ally Financial Inc. bought a new stake in Kimberly-Clark during the fourth quarter valued at approximately $1,009,000. Westpac Banking Corp boosted its position in Kimberly-Clark by 25.0% during the fourth quarter. Westpac Banking Corp now owns 54,135 shares of the company’s stock valued at $5,462,000 after buying an additional 10,811 shares during the period. Oddo BHF Asset Management Sas grew its position in Kimberly-Clark by 29.6% during the 4th quarter. Oddo BHF Asset Management Sas now owns 61,795 shares of the company’s stock worth $6,234,000 after acquiring an additional 14,115 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Kimberly-Clark by 50.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,839,572 shares of the company’s stock worth $790,934,000 after purchasing an additional 2,628,206 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Kimberly-Clark in the 4th quarter worth $1,047,000. Hedge funds and other institutional investors own 76.29% of the company’s stock.

Kimberly-Clark Stock Up 2.2%

KMB opened at $109.70 on Friday. The stock has a market cap of $36.41 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 4.92 and a beta of 0.26. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.55 and a current ratio of 0.77. The firm’s fifty day moving average is $104.38 and its 200 day moving average is $101.99. Kimberly-Clark Corporation has a fifty-two week low of $92.42 and a fifty-two week high of $137.46.

Kimberly-Clark (NASDAQ:KMB) last released its earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.04. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter last year, the business posted $1.93 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Kimberly-Clark Corporation will post 7.47 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, June 5th. Kimberly-Clark’s dividend payout ratio is 80.38%.

Wall Street Analysts Forecast Growth

KMB has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Kimberly-Clark in a report on Wednesday, June 24th. UBS Group increased their price target on shares of Kimberly-Clark from $106.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Finally, Piper Sandler lifted their target price on shares of Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.93.

Insider Activity at Kimberly-Clark

In other news, VP Andrew Scribner sold 4,095 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total value of $401,310.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Katy Chen sold 1,596 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $95.34, for a total value of $152,162.64. Following the sale, the insider directly owned 8,362 shares in the company, valued at $797,233.08. The trade was a 16.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 7,096 shares of company stock valued at $689,687 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

Kimberly-Clark 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.