Summit Global Investments Purchases 48,814 Shares of Kimberly-Clark Co. (NYSE:KMB)

Summit Global Investments grew its position in shares of Kimberly-Clark Co. (NYSE:KMB) by 510.8% in the 4th quarter, Holdings Channel reports. The firm owned 58,371 shares of the company’s stock after acquiring an additional 48,814 shares during the quarter. Summit Global Investments’ holdings in Kimberly-Clark were worth $7,649,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Kimberly-Clark in the 4th quarter valued at $25,000. Marshall Investment Management LLC bought a new stake in shares of Kimberly-Clark in the 4th quarter valued at $25,000. Darwin Wealth Management LLC bought a new stake in shares of Kimberly-Clark in the 3rd quarter valued at $29,000. Golden State Wealth Management LLC bought a new stake in shares of Kimberly-Clark in the 4th quarter valued at $32,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Kimberly-Clark in the 4th quarter valued at $33,000. Institutional investors own 76.29% of the company’s stock.

Kimberly-Clark Price Performance

KMB opened at $138.31 on Friday. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.80 and a quick ratio of 0.54. The company has a market capitalization of $45.87 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 4.46 and a beta of 0.36. The firm’s fifty day moving average price is $134.84 and its two-hundred day moving average price is $136.34. Kimberly-Clark Co. has a 1 year low of $123.84 and a 1 year high of $150.45.

Kimberly-Clark (NYSE:KMB) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.50. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. As a group, analysts anticipate that Kimberly-Clark Co. will post 7.5 earnings per share for the current fiscal year.

Kimberly-Clark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.26 dividend. This is an increase from Kimberly-Clark’s previous quarterly dividend of $1.22. This represents a $5.04 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, March 7th. Kimberly-Clark’s payout ratio is 66.75%.

Analyst Ratings Changes

Several analysts have recently weighed in on KMB shares. Wells Fargo & Company lowered their price objective on shares of Kimberly-Clark from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. TD Cowen lowered shares of Kimberly-Clark from a “buy” rating to a “hold” rating and set a $145.00 price objective for the company. in a research note on Wednesday, January 8th. Barclays decreased their price target on shares of Kimberly-Clark from $144.00 to $132.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $165.00 price target on shares of Kimberly-Clark in a research note on Friday, January 24th. Finally, Piper Sandler restated an “overweight” rating and set a $158.00 price target (down previously from $161.00) on shares of Kimberly-Clark in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $143.64.

Insider Buying and Selling

In related news, VP Andrew Drexler sold 2,500 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $140.00, for a total value of $350,000.00. Following the transaction, the vice president now directly owns 2,553 shares of the company’s stock, valued at approximately $357,420. The trade was a 49.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is owned by insiders.

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.