OVERSEA CHINESE BANKING Corp Ltd bought a new position 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 fund bought 35,470 shares of the company’s stock, valued at approximately $3,894,000.
Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Kimberly-Clark during the 2nd quarter worth approximately $3,547,915,000. Wellington Management Group LLP boosted its stake in shares of Kimberly-Clark by 26,997.7% in the fourth quarter. Wellington Management Group LLP now owns 7,368,407 shares of the company’s stock worth $743,399,000 after acquiring an additional 7,341,215 shares during the last quarter. Norges Bank purchased a new stake in shares of Kimberly-Clark during the fourth quarter worth approximately $521,184,000. Bank of New York Mellon Corp acquired a new position in Kimberly-Clark in the 2nd quarter valued at $239,612,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Kimberly-Clark in the 2nd quarter valued at $188,902,000. Institutional investors and hedge funds own 76.29% of the company’s stock.
Kimberly-Clark Trading Down 1.1%
KMB opened at $108.69 on Friday. The stock has a market capitalization of $36.15 billion, a PE ratio of 18.48, a P/E/G ratio of 5.23 and a beta of 0.26. Kimberly-Clark Corporation has a one year low of $92.42 and a one year high of $134.38. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.69 and a current ratio of 0.91. The business’s 50 day moving average price is $108.75 and its 200 day moving average price is $103.39.
Kimberly-Clark Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 4th will be issued a $1.28 dividend. This represents a $5.12 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, September 4th. Kimberly-Clark’s payout ratio is 87.07%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. UBS Group increased their price target on Kimberly-Clark from $115.00 to $116.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Wells Fargo & Company lifted their price objective 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. Barclays upped their target price on Kimberly-Clark from $101.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, Piper Sandler reaffirmed 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 given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kimberly-Clark has an average rating of “Hold” and a consensus price target of $117.93.
Get Our Latest Analysis on Kimberly-Clark
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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