Summit X LLC Increases Stock Position in Kimberly-Clark Co. (NYSE:KMB)

Summit X LLC increased its position in Kimberly-Clark Co. (NYSE:KMB) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,485 shares of the company’s stock after acquiring an additional 137 shares during the period. Summit X LLC’s holdings in Kimberly-Clark were worth $1,112,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Kimberly-Clark in the 4th quarter worth approximately $25,000. Marshall Investment Management LLC purchased a new position in Kimberly-Clark in the 4th quarter worth approximately $25,000. Darwin Wealth Management LLC purchased a new position in Kimberly-Clark in the 3rd quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new position in Kimberly-Clark in the 4th quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in Kimberly-Clark in the 4th quarter worth approximately $33,000. 76.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kimberly-Clark news, VP Andrew Drexler sold 2,500 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $140.00, for a total transaction of $350,000.00. Following the completion of the transaction, the vice president now owns 2,553 shares of the company’s stock, valued at $357,420. This represents a 49.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KMB shares. Citigroup decreased their price objective on shares of Kimberly-Clark from $125.00 to $118.00 and set a “sell” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $165.00 target price on shares of Kimberly-Clark in a research note on Friday, January 24th. Wells Fargo & Company decreased their target price 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. Piper Sandler reiterated an “overweight” rating and set a $158.00 target price (down from $161.00) on shares of Kimberly-Clark in a research note on Wednesday, January 29th. Finally, Barclays decreased their target price 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. 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’s stock. According to data from MarketBeat, Kimberly-Clark has an average rating of “Hold” and a consensus target price of $143.64.

Kimberly-Clark Trading Down 2.3 %

Shares of Kimberly-Clark stock opened at $144.02 on Wednesday. The company has a market capitalization of $47.77 billion, a P/E ratio of 19.08, a P/E/G ratio of 4.46 and a beta of 0.36. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.54 and a current ratio of 0.80. The company has a fifty day moving average of $132.96 and a 200 day moving average of $136.48. Kimberly-Clark Co. has a fifty-two week low of $123.02 and a fifty-two week high of $150.45.

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

Kimberly-Clark Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, March 7th. This represents a $5.04 annualized dividend and a yield of 3.50%. This is an increase from Kimberly-Clark’s previous quarterly dividend of $1.22. Kimberly-Clark’s dividend payout ratio is currently 66.75%.

Kimberly-Clark Company 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.