BlackRock Inc. Acquires New Shares in Kimberly-Clark Corporation $KMB

Key Points

• BlackRock acquired 32.3 million Kimberly-Clark shares in the second quarter, valued at approximately $3.55 billion, giving it a 9.72% stake. Institutional investors collectively own 76.29% of the company.
• Analysts raised several price targets, but the consensus remains a “Hold” rating with a $117.93 target price. Kimberly-Clark recently reported quarterly EPS of $1.80, below the $2.01 consensus estimate, while revenue rose 0.6% year over year.
• Kimberly-Clark declared a quarterly dividend of $1.28, equivalent to $5.12 annually and a 4.8% yield. The stock opened at $107.72, with a market capitalization of $35.83 billion.

BlackRock Inc. purchased a new position in Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,321,354 shares of the company's stock, valued at approximately $3,547,915,000. BlackRock Inc. owned 9.72% of Kimberly-Clark as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in Kimberly-Clark during the second quarter valued at approximately $27,000. Godfrey Financial Associates Inc. purchased a new stake in Kimberly-Clark in the 4th quarter worth $25,000. CrossGen Wealth LLC bought a new stake in Kimberly-Clark during the 4th quarter valued at approximately $27,000. Clearstead Trust LLC bought a new stake in shares of Kimberly-Clark during the second quarter valued at approximately $33,000. Finally, Motiv8 Investments LLC bought a new stake in Kimberly-Clark in the 4th quarter valued at $31,000. Institutional investors own 76.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays upped their price objective on Kimberly-Clark from $101.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Wells Fargo & Company boosted their target price on Kimberly-Clark from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. TD Cowen upped their price target on shares of Kimberly-Clark from $96.00 to $104.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Kimberly-Clark from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. Finally, UBS Group raised their target price on shares of Kimberly-Clark from $115.00 to $116.00 and gave the company a "neutral" rating in a research 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 given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kimberly-Clark currently has a consensus rating of "Hold" and a consensus price target of $117.93.

Kimberly-Clark Stock Down 0.2%

KMB stock opened at $107.72 on Wednesday. The stock has a market capitalization of $35.83 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 5.25 and a beta of 0.26. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 3.45. Kimberly-Clark Corporation has a 52 week low of $92.42 and a 52 week high of $136.17. The firm has a 50 day moving average of $108.45 and a 200 day moving average of $103.25.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share (EPS) 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%. Kimberly-Clark's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 earnings per share. Sell-side analysts forecast that Kimberly-Clark Corporation will post 7.43 earnings per share for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be issued a $1.28 dividend. This represents a $5.12 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, September 4th. Kimberly-Clark's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source