Allstate Corp Purchases 6,050 Shares of Kimberly-Clark Co. $KMB

Key Points

• Allstate Corp increased its stake in Kimberly-Clark Co. by 60.2%, acquiring an additional 6,050 shares, bringing its total holdings to 16,097 shares valued at approximately $2.29 million.
• Institutional ownership of Kimberly-Clark stands at 76.29%, with several investors significantly increasing their stakes in the company during the first quarter.
• The company announced a quarterly dividend of $1.26 per share, representing an annualized dividend yield of 3.8%, set to be paid on October 2nd.

Allstate Corp lifted its position in Kimberly-Clark Co. (NYSE:KMB - Free Report) by 60.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,097 shares of the company's stock after purchasing an additional 6,050 shares during the quarter. Allstate Corp's holdings in Kimberly-Clark were worth $2,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Elevate Capital Advisors LLC raised its stake in shares of Kimberly-Clark by 46.4% in the 1st quarter. Elevate Capital Advisors LLC now owns 12,444 shares of the company's stock valued at $1,770,000 after buying an additional 3,944 shares in the last quarter. Citigroup Inc. lifted its stake in Kimberly-Clark by 86.8% during the first quarter. Citigroup Inc. now owns 509,585 shares of the company's stock worth $72,473,000 after purchasing an additional 236,733 shares during the period. Unigestion Holding SA boosted its holdings in Kimberly-Clark by 8.2% during the first quarter. Unigestion Holding SA now owns 127,623 shares of the company's stock valued at $18,145,000 after purchasing an additional 9,643 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Kimberly-Clark by 270.2% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 984,695 shares of the company's stock valued at $140,043,000 after purchasing an additional 718,720 shares during the period. Finally, Farmers Trust Co. raised its holdings in shares of Kimberly-Clark by 108.6% in the 1st quarter. Farmers Trust Co. now owns 45,088 shares of the company's stock worth $6,412,000 after buying an additional 23,472 shares in the last quarter. Institutional investors and hedge funds own 76.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on KMB shares. UBS Group decreased their price target on Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Barclays boosted their target price on shares of Kimberly-Clark from $134.00 to $139.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. upgraded shares of Kimberly-Clark from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $125.00 to $138.00 in a research report on Monday, August 4th. Finally, Piper Sandler assumed coverage on shares of Kimberly-Clark in a research report on Friday, July 18th. They issued an "overweight" rating and a $144.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $142.70.

Kimberly-Clark Stock Performance

Kimberly-Clark stock opened at $133.49 on Friday. The stock has a 50-day simple moving average of $130.43 and a 200 day simple moving average of $135.14. The stock has a market capitalization of $44.29 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 4.46 and a beta of 0.33. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 7.05. Kimberly-Clark Co. has a 12-month low of $124.10 and a 12-month high of $150.45.

Kimberly-Clark (NYSE:KMB - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.25. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. The firm had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter last year, the company posted $1.96 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Kimberly-Clark Co. will post 7.5 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 Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.26 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.04 annualized dividend and a yield of 3.8%. Kimberly-Clark's dividend payout ratio is currently 69.42%.

About Kimberly-Clark

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products in the United States. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The company's Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Sweety, Kotex, U by Kotex, Intimus, Thinx, Poise, Depend, Plenitud, Softex, and other brand names.

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