The Manufacturers Life Insurance Company purchased a new stake in Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 275,825 shares of the company’s stock, valued at approximately $30,279,000. The Manufacturers Life Insurance Company owned 0.08% of Kimberly-Clark at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Van Hulzen Asset Management LLC acquired a new stake in Kimberly-Clark in the 2nd quarter valued at approximately $316,000. Fiduciary Financial Advisors acquired a new position in Kimberly-Clark during the 2nd quarter worth $47,000. Manning & Napier Advisors LLC acquired a new position in Kimberly-Clark during the 2nd quarter worth $688,000. L2 Asset Management LLC bought a new position in shares of Kimberly-Clark in the second quarter worth $573,000. Finally, Aberdeen Wealth Management LLC bought a new stake in shares of Kimberly-Clark during the second quarter valued at about $227,000. Institutional investors own 76.29% of the company’s stock.
Analyst Ratings Changes
KMB has been the subject of several research analyst reports. Weiss Ratings raised shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. UBS Group upped their price target on shares of Kimberly-Clark from $115.00 to $116.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Piper Sandler reiterated an “overweight” rating on shares of Kimberly-Clark in a report on Wednesday, August 19th. Seaport Research Partners raised Kimberly-Clark to a “buy” rating in a report on Tuesday, August 4th. Finally, Wells Fargo & Company upped their target price on Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $117.93.
Kimberly-Clark Stock Down 0.3%
NASDAQ KMB opened at $109.98 on Friday. Kimberly-Clark Corporation has a 12 month low of $92.42 and a 12 month high of $131.53. The company has a market capitalization of $36.58 billion, a P/E ratio of 18.70, a PEG ratio of 5.26 and a beta of 0.26. The company’s 50 day simple moving average is $109.52 and its 200 day simple moving average is $103.67. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.91 and a quick ratio of 0.69.
Kimberly-Clark (NASDAQ:KMB – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.21). The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.22 billion. Kimberly-Clark had a return on equity of 143.92% and a net margin of 11.79%.The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 earnings per share. Equities research analysts expect that Kimberly-Clark Corporation will post 7.42 earnings per share for the current fiscal year.
Kimberly-Clark Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, September 4th. 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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