Summit Financial LLC Purchases 1,282 Shares of Kimberly-Clark Co. (NYSE:KMB)

Summit Financial LLC grew its position in shares of Kimberly-Clark Co. (NYSE:KMB) by 25.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,286 shares of the company’s stock after acquiring an additional 1,282 shares during the quarter. Summit Financial LLC’s holdings in Kimberly-Clark were worth $831,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KMB. Migdal Insurance & Financial Holdings Ltd. bought a new position in Kimberly-Clark in the fourth quarter valued at $25,000. Marshall Investment Management LLC bought a new position in shares of Kimberly-Clark in the 4th quarter valued at about $25,000. Golden State Wealth Management LLC acquired a new stake in shares of Kimberly-Clark in the fourth quarter valued at about $32,000. Strategic Financial Concepts LLC bought a new stake in Kimberly-Clark during the fourth quarter worth about $33,000. Finally, Roxbury Financial LLC acquired a new position in Kimberly-Clark during the fourth quarter valued at approximately $33,000. 76.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Andrew Drexler sold 10,838 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.00, for a total transaction of $1,528,158.00. Following the completion of the sale, the vice president now directly owns 7,720 shares in the company, valued at approximately $1,088,520. This represents a 58.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by company insiders.

Kimberly-Clark Stock Performance

NYSE:KMB opened at $143.07 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 7.05. The stock has a 50 day simple moving average of $137.10 and a 200 day simple moving average of $135.97. Kimberly-Clark Co. has a 1-year low of $123.84 and a 1-year high of $150.45. The stock has a market cap of $47.45 billion, a P/E ratio of 18.95, a PEG ratio of 4.46 and a beta of 0.36.

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

Kimberly-Clark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were paid a $1.26 dividend. This is a boost from Kimberly-Clark’s previous quarterly dividend of $1.22. This represents a $5.04 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Friday, March 7th. Kimberly-Clark’s payout ratio is 66.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KMB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $165.00 price objective on shares of Kimberly-Clark in a research note on Friday, January 24th. Piper Sandler reiterated an “overweight” rating and issued a $158.00 price target (down previously from $161.00) on shares of Kimberly-Clark in a research note on Wednesday, January 29th. TD Cowen lowered shares of Kimberly-Clark from a “buy” rating to a “hold” rating and set a $145.00 price objective on the stock. in a research note on Wednesday, January 8th. Wells Fargo & Company raised their target price on shares of Kimberly-Clark from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, March 28th. Finally, Citigroup lowered their price target on Kimberly-Clark from $125.00 to $118.00 and set a “sell” rating on the stock in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kimberly-Clark currently has an average rating of “Hold” and a consensus target price of $144.85.

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.