L2 Asset Management LLC Takes Position in Kimberly-Clark Corporation $KMB

L2 Asset Management LLC acquired a new stake in Kimberly-Clark Corporation (NASDAQ:KMB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,207 shares of the company’s stock, valued at approximately $573,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Kimberly-Clark by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 40,846,734 shares of the company’s stock valued at $4,121,027,000 after acquiring an additional 315,981 shares during the period. BlackRock Inc. acquired a new stake in shares of Kimberly-Clark in the 2nd quarter worth approximately $3,547,915,000. State Street Corp increased its stake in Kimberly-Clark by 1.4% in the 4th quarter. State Street Corp now owns 21,125,118 shares of the company’s stock valued at $2,157,746,000 after purchasing an additional 294,228 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Kimberly-Clark by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,917,154 shares of the company’s stock valued at $1,202,322,000 after purchasing an additional 299,382 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Kimberly-Clark by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 8,322,198 shares of the company’s stock worth $836,216,000 after purchasing an additional 65,619 shares during the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KMB shares. Barclays upped their target price on Kimberly-Clark from $101.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Weiss Ratings raised Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Seaport Research Partners upgraded shares of Kimberly-Clark to a “buy” rating in a research report on Tuesday, August 4th. Piper Sandler reissued an “overweight” rating on shares of Kimberly-Clark in a research note on Wednesday, August 19th. Finally, TD Cowen raised their target price on shares of Kimberly-Clark from $96.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $117.93.

Kimberly-Clark Stock Down 0.3%

Shares of NASDAQ:KMB opened at $111.02 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 3.45. The company has a market capitalization of $36.92 billion, a P/E ratio of 18.88, a P/E/G ratio of 5.31 and a beta of 0.26. Kimberly-Clark Corporation has a 52-week low of $92.42 and a 52-week high of $131.53. The stock’s fifty day simple moving average is $109.19 and its 200-day simple moving average is $103.59.

Kimberly-Clark (NASDAQ:KMB) last announced its earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.21). The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.22 billion. Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 EPS. As a group, equities research analysts forecast that Kimberly-Clark Corporation will post 7.42 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 4th. Kimberly-Clark’s payout ratio is currently 87.07%.

Kimberly-Clark 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.