SteelPeak Wealth LLC Purchases New Stake in Kimberly-Clark Corporation $KMB

SteelPeak Wealth LLC purchased a new stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,092 shares of the company’s stock, valued at approximately $1,276,000.

Several other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in Kimberly-Clark by 74.1% in the 4th quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock valued at $851,000 after acquiring an additional 2,765 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Kimberly-Clark by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company’s stock worth $46,923,000 after purchasing an additional 24,698 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Kimberly-Clark by 44.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company’s stock worth $36,698,000 after purchasing an additional 87,455 shares in the last quarter. Main Street Financial Solutions LLC raised its stake in shares of Kimberly-Clark by 11.0% in the second quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock worth $424,000 after purchasing an additional 326 shares during the last quarter. Finally, HUB Investment Partners LLC raised its stake in shares of Kimberly-Clark by 20.5% in the second quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock worth $1,372,000 after purchasing an additional 1,811 shares during the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.

Kimberly-Clark Price Performance

Kimberly-Clark stock opened at $108.35 on Friday. Kimberly-Clark Corporation has a 52 week low of $92.42 and a 52 week high of $137.46. The company’s 50 day moving average price is $103.19 and its two-hundred day moving average price is $101.74. The stock has a market cap of $35.97 billion, a P/E ratio of 17.01, a P/E/G ratio of 4.85 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 earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.04. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.09 billion. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.Kimberly-Clark’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. On average, equities analysts predict that Kimberly-Clark Corporation will post 7.47 earnings per share for the current year.

Kimberly-Clark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th were given a dividend of $1.28 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.12 annualized dividend and a dividend yield of 4.7%. Kimberly-Clark’s dividend payout ratio (DPR) is currently 80.38%.

Analysts Set New Price Targets

Several brokerages recently issued reports on KMB. Piper Sandler lifted their target price on Kimberly-Clark from $115.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. UBS Group increased their price target on Kimberly-Clark from $106.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company raised their price objective 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 cut their price objective on shares of 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 reduced their target price on shares of Kimberly-Clark from $105.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $116.79.

Insiders Place Their Bets

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

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.