Tocqueville Asset Management L.P. bought a new stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,204 shares of the company’s stock, valued at approximately $4,303,000.
Several other hedge funds and other institutional investors have also made changes to their positions in KMB. Patrick Mauro Investment Advisor INC. acquired a new stake in shares of Kimberly-Clark in the second quarter worth approximately $8,143,000. Chancellor Financial Group WB LP acquired a new position in Kimberly-Clark in the 2nd quarter valued at $426,000. Great Lakes Advisors LLC acquired a new position in Kimberly-Clark in the 2nd quarter valued at $429,000. Avaii Wealth Management LLC purchased a new position in Kimberly-Clark in the 2nd quarter valued at $1,266,000. Finally, Compass Wealth Management LLC acquired a new stake in Kimberly-Clark during the 2nd quarter worth $774,000. Hedge funds and other institutional investors own 76.29% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on KMB. Wells Fargo & Company upped their target price on shares of Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Freedom Capital raised shares of Kimberly-Clark from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. TD Cowen upped their price objective on shares of Kimberly-Clark from $96.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Piper Sandler reissued an “overweight” rating on shares of Kimberly-Clark in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Kimberly-Clark currently has an average rating of “Hold” and a consensus price target of $117.93.
Kimberly-Clark Stock Down 1.1%
Shares of KMB opened at $108.69 on Friday. Kimberly-Clark Corporation has a 52-week low of $92.42 and a 52-week high of $134.38. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 3.45. The stock has a fifty day simple moving average of $108.75 and a two-hundred day simple moving average of $103.39. The company has a market capitalization of $36.15 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 5.23 and a beta of 0.26.
Kimberly-Clark (NASDAQ:KMB – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.21). Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the prior year, the company posted $1.92 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Kimberly-Clark Corporation will post 7.43 EPS for the current year.
Kimberly-Clark Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be paid a $1.28 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.12 annualized dividend and a dividend yield of 4.7%. Kimberly-Clark’s dividend payout ratio is 87.07%.
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.
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