Sit Investment Associates Inc. Buys New Holdings in Kimberly Clark Corp (KMB)
Sit Investment Associates Inc. bought a new stake in Kimberly Clark Corp (NYSE:KMB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,925 shares of the company’s stock, valued at approximately $580,000.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Kimberly Clark by 2.2% during the second quarter. Vanguard Group Inc. now owns 24,766,774 shares of the company’s stock worth $3,197,638,000 after buying an additional 537,794 shares during the period. Capital Research Global Investors grew its stake in Kimberly Clark by 46.6% during the second quarter. Capital Research Global Investors now owns 10,037,901 shares of the company’s stock worth $1,295,993,000 after buying an additional 3,191,549 shares during the period. Wells Fargo & Company MN grew its stake in Kimberly Clark by 3.3% during the second quarter. Wells Fargo & Company MN now owns 5,666,819 shares of the company’s stock worth $731,643,000 after buying an additional 181,517 shares during the period. Federated Investors Inc. PA grew its stake in Kimberly Clark by 1.7% during the second quarter. Federated Investors Inc. PA now owns 3,266,146 shares of the company’s stock worth $421,692,000 after buying an additional 55,108 shares during the period. Finally, FMR LLC grew its stake in Kimberly Clark by 23.4% during the first quarter. FMR LLC now owns 2,589,395 shares of the company’s stock worth $340,841,000 after buying an additional 491,121 shares during the period. Hedge funds and other institutional investors own 71.61% of the company’s stock.
Several equities research analysts have issued reports on the stock. Citigroup downgraded shares of Kimberly Clark from a “neutral” rating to a “sell” rating and set a $113.00 price objective for the company. in a research note on Monday. Zacks Investment Research upgraded shares of Kimberly Clark from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Barclays reiterated a “hold” rating on shares of Kimberly Clark in a research note on Thursday, October 26th. Jefferies Group reiterated a “hold” rating and set a $119.00 price objective on shares of Kimberly Clark in a research note on Thursday, September 7th. Finally, Societe Generale upgraded shares of Kimberly Clark from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $112.05 to $144.00 in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $126.36.
Kimberly Clark (NYSE:KMB) last posted its quarterly earnings results on Monday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Kimberly Clark had a net margin of 11.89% and a return on equity of 666.97%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 earnings per share. sell-side analysts predict that Kimberly Clark Corp will post 6.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 8th will be issued a $0.97 dividend. The ex-dividend date is Thursday, December 7th. This represents a $3.88 annualized dividend and a yield of 3.27%. Kimberly Clark’s dividend payout ratio is presently 64.03%.
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Kimberly Clark Profile
Kimberly-Clark Corporation is engaged in the manufacturing and marketing of a range of products made from natural or synthetic fibers. The Company’s segments include Personal Care, Consumer Tissue, K-C Professional and Corporate & Other. The Company’s Personal Care segment offers various solutions and products, such as disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products.
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