SummitTX Capital L.P. Acquires 58,459 Shares of Kimberly-Clark Corporation $KMB

SummitTX Capital L.P. raised its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 629.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,739 shares of the company’s stock after purchasing an additional 58,459 shares during the quarter. SummitTX Capital L.P.’s holdings in Kimberly-Clark were worth $6,535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KMB. Godfrey Financial Associates Inc. acquired a new stake in shares of Kimberly-Clark during the 4th quarter worth about $25,000. Darwin Wealth Management LLC acquired a new position in Kimberly-Clark in the 2nd quarter valued at about $27,000. CrossGen Wealth LLC bought a new position in Kimberly-Clark in the 4th quarter valued at about $27,000. Eagle Bay Advisors LLC acquired a new stake in Kimberly-Clark during the fourth quarter worth approximately $28,000. Finally, Newbridge Financial Services Group Inc. lifted its position in Kimberly-Clark by 96.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 285 shares of the company’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.

Kimberly-Clark Stock Performance

Shares of NASDAQ:KMB opened at $111.44 on Tuesday. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $137.46. The company’s 50 day moving average price is $104.68 and its two-hundred day moving average price is $102.12. The firm has a market cap of $36.99 billion, a PE ratio of 17.49, a PEG ratio of 4.92 and a beta of 0.26. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 3.38.

Kimberly-Clark (NASDAQ:KMB) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.09 billion. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 earnings per share. Equities research analysts predict that Kimberly-Clark Corporation will post 7.47 earnings per share for the current year.

Kimberly-Clark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a $1.28 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.12 annualized dividend and a yield of 4.6%. Kimberly-Clark’s payout ratio is currently 80.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America reduced their price objective on Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, April 10th. Piper Sandler lifted their price target on Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Wells Fargo & Company boosted their price target on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Finally, Barclays increased their price objective on Kimberly-Clark from $101.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $117.93.

Insider Buying and Selling at Kimberly-Clark

In related news, VP Andrew Scribner sold 4,095 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total value of $401,310.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Katy Chen sold 1,596 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $95.34, for a total value of $152,162.64. Following the completion of the transaction, the insider directly owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. This trade represents a 16.03% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 7,096 shares of company stock valued at $689,687 over the last ninety days. Insiders own 0.75% of the company’s stock.

Kimberly-Clark Company Profile

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.