SCS Capital Management LLC Acquires New Position in Kimberly-Clark Corporation $KMB

SCS Capital Management LLC acquired a new position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) during the 2nd quarter, HoldingsChannel reports. The firm acquired 13,583 shares of the company’s stock, valued at approximately $1,492,000.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on KMB shares. Seaport Research Partners upgraded shares of Kimberly-Clark to a “buy” rating in a research report on Tuesday, August 4th. Barclays lifted their price objective on shares of Kimberly-Clark from $101.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. TD Cowen upped their target price on shares of Kimberly-Clark from $96.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Finally, Piper Sandler raised their price target on shares of Kimberly-Clark from $115.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $117.93.

Kimberly-Clark Stock Performance

NASDAQ:KMB opened at $110.39 on Monday. Kimberly-Clark Corporation has a 1 year low of $92.42 and a 1 year high of $136.17. The stock has a market cap of $36.71 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 5.25 and a beta of 0.26. The business has a fifty day moving average of $108.10 and a 200-day moving average of $103.14. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.69 and a current ratio of 0.91.

Kimberly-Clark (NASDAQ:KMB) last issued its quarterly earnings data 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 company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.22 billion. Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. Kimberly-Clark’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 earnings per share. Equities analysts predict that Kimberly-Clark Corporation will post 7.43 earnings per share for the current year.

Kimberly-Clark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be paid a dividend of $1.28 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.12 annualized dividend and a yield of 4.6%. Kimberly-Clark’s dividend payout ratio (DPR) is presently 87.07%.

About Kimberly-Clark

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.