Summit Securities Group LLC Takes Position in Kimberly-Clark Co. (NYSE:KMB)

Summit Securities Group LLC purchased a new position in shares of Kimberly-Clark Co. (NYSE:KMB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,600 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Kimberly-Clark by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 35,142,545 shares of the company’s stock valued at $4,605,079,000 after buying an additional 4,603,787 shares in the last quarter. State Street Corp raised its stake in shares of Kimberly-Clark by 5.9% in the third quarter. State Street Corp now owns 19,304,396 shares of the company’s stock worth $2,768,367,000 after acquiring an additional 1,083,824 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kimberly-Clark by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,589,967 shares of the company’s stock worth $1,387,709,000 after purchasing an additional 529,223 shares in the last quarter. Geode Capital Management LLC boosted its position in Kimberly-Clark by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 7,675,506 shares of the company’s stock valued at $1,092,388,000 after buying an additional 206,671 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Kimberly-Clark during the fourth quarter worth $582,592,000. 76.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on KMB shares. TD Cowen cut Kimberly-Clark from a “buy” rating to a “hold” rating and set a $145.00 price objective for the company. in a report on Wednesday, January 8th. Piper Sandler reissued an “overweight” rating and set a $158.00 price target (down from $161.00) on shares of Kimberly-Clark in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of Kimberly-Clark from $140.00 to $124.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Barclays upped their target price on shares of Kimberly-Clark from $138.00 to $144.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $165.00 price objective on shares of Kimberly-Clark in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $144.85.

Kimberly-Clark Trading Up 0.1 %

Shares of Kimberly-Clark stock opened at $140.73 on Friday. The business’s 50 day moving average is $136.12 and its 200-day moving average is $135.98. Kimberly-Clark Co. has a 12-month low of $123.84 and a 12-month high of $150.45. The stock has a market cap of $46.67 billion, a P/E ratio of 18.64, a P/E/G ratio of 4.46 and a beta of 0.36. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 7.05.

Kimberly-Clark (NYSE:KMB) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. Kimberly-Clark had a return on equity of 201.43% and a net margin of 12.69%. Equities research analysts predict that Kimberly-Clark Co. will post 7.5 earnings per share for the current fiscal year.

Kimberly-Clark Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Kimberly-Clark’s previous quarterly dividend of $1.22. This represents a $5.04 annualized dividend and a yield of 3.58%. Kimberly-Clark’s dividend payout ratio (DPR) is 66.75%.

Insider Transactions at Kimberly-Clark

In other 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 completion of the sale, the vice president now owns 2,553 shares of the company’s stock, valued at approximately $357,420. The trade was a 49.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.

Kimberly-Clark Profile

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.