VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 317,651 Kimberly-Clark Corporation $KMB

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 317,651 shares of the company’s stock, valued at approximately $34,869,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in Kimberly-Clark by 11,088.4% during the 2nd quarter. California State Teachers Retirement System now owns 43,186,921 shares of the company’s stock worth $4,740,628,000 after buying an additional 42,800,922 shares during the period. BlackRock Inc. bought a new position in shares of Kimberly-Clark during the second quarter valued at $3,547,915,000. Wellington Management Group LLP raised its stake in shares of Kimberly-Clark by 26,997.7% during the fourth quarter. Wellington Management Group LLP now owns 7,368,407 shares of the company’s stock valued at $743,399,000 after acquiring an additional 7,341,215 shares during the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of Kimberly-Clark during the second quarter worth $632,373,000. Finally, Norges Bank acquired a new position in shares of Kimberly-Clark during the fourth quarter worth $521,184,000. Institutional investors and hedge funds own 76.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on KMB. Piper Sandler restated an “overweight” rating on shares of Kimberly-Clark in a report on Wednesday, August 19th. Seaport Research Partners raised Kimberly-Clark to a “buy” rating in a report on Tuesday, August 4th. UBS Group upped their price target on Kimberly-Clark from $115.00 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Freedom Capital raised Kimberly-Clark from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company raised their price objective on Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. One equities 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $117.93.

Kimberly-Clark Stock Performance

NASDAQ:KMB opened at $104.96 on Tuesday. Kimberly-Clark Corporation has a 52 week low of $92.42 and a 52 week high of $131.53. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.69 and a current ratio of 0.91. The firm’s fifty day moving average is $109.73 and its 200-day moving average is $103.67. The firm has a market cap of $34.91 billion, a P/E ratio of 17.85, a P/E/G ratio of 4.39 and a beta of 0.25.

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 analysts’ consensus estimates of $2.01 by ($0.21). The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.22 billion. Kimberly-Clark had a return on equity of 143.92% and a net margin of 11.79%.Kimberly-Clark’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.92 EPS. Equities analysts expect that Kimberly-Clark Corporation will post 7.43 earnings per share for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be issued a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, September 4th. Kimberly-Clark’s dividend payout ratio (DPR) is presently 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.