New Millennium Group LLC Makes New $28,000 Investment in Kimberly-Clark Co. (NYSE:KMB)

New Millennium Group LLC bought a new stake in Kimberly-Clark Co. (NYSE:KMB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 200 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KMB. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Kimberly-Clark by 18.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 454,104 shares of the company’s stock valued at $58,738,000 after acquiring an additional 69,794 shares during the last quarter. Virtu Financial LLC grew its position in shares of Kimberly-Clark by 506.8% in the 4th quarter. Virtu Financial LLC now owns 12,955 shares of the company’s stock worth $1,574,000 after acquiring an additional 10,820 shares in the last quarter. Nixon Peabody Trust Co. bought a new stake in shares of Kimberly-Clark in the 4th quarter valued at approximately $1,081,000. Focus Financial Network Inc. ADV acquired a new stake in shares of Kimberly-Clark during the 4th quarter valued at approximately $1,094,000. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Kimberly-Clark in the fourth quarter worth $11,994,000. 76.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Bank of America raised shares of Kimberly-Clark from an “underperform” rating to a “buy” rating and lifted their price target for the company from $115.00 to $160.00 in a report on Thursday, June 13th. Wells Fargo & Company decreased their target price on shares of Kimberly-Clark from $138.00 to $134.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Piper Sandler upped their price target on shares of Kimberly-Clark from $167.00 to $174.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. TD Cowen initiated coverage on shares of Kimberly-Clark in a research note on Tuesday, July 23rd. They set a “buy” rating and a $161.00 price objective on the stock. Finally, Barclays cut their target price on Kimberly-Clark from $136.00 to $135.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $145.67.

Kimberly-Clark Stock Performance

KMB stock traded down $0.35 during midday trading on Monday, hitting $143.26. 332,197 shares of the company traded hands, compared to its average volume of 2,146,972. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 5.59. The business has a 50 day simple moving average of $140.38 and a 200-day simple moving average of $132.86. The stock has a market capitalization of $48.24 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 2.95 and a beta of 0.37. Kimberly-Clark Co. has a twelve month low of $116.32 and a twelve month high of $145.68.

Kimberly-Clark (NYSE:KMB) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.25. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Kimberly-Clark had a return on equity of 223.55% and a net margin of 11.28%. Kimberly-Clark’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. As a group, equities research analysts predict that Kimberly-Clark Co. will post 7.21 earnings per share for the current year.

Kimberly-Clark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 6th will be paid a dividend of $1.22 per share. The ex-dividend date is Friday, September 6th. This represents a $4.88 annualized dividend and a yield of 3.41%. Kimberly-Clark’s dividend payout ratio is 89.71%.

Insiders Place Their Bets

In related news, insider Gonzalo Uribe sold 1,780 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $140.84, for a total value of $250,695.20. Following the completion of the transaction, the insider now owns 7,377 shares of the company’s stock, valued at $1,038,976.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffrey P. Melucci sold 37,699 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $141.42, for a total value of $5,331,392.58. Following the transaction, the insider now owns 19,935 shares in the company, valued at $2,819,207.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gonzalo Uribe sold 1,780 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $140.84, for a total value of $250,695.20. Following the completion of the sale, the insider now directly owns 7,377 shares in the company, valued at $1,038,976.68. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

About Kimberly-Clark

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products in the United States. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The company's Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Sweety, Kotex, U by Kotex, Intimus, Thinx, Poise, Depend, Plenitud, Softex, and other brand names.