Canvas Wealth Advisors LLC Purchases 28,291 Shares of Kimberly-Clark Corporation $KMB

Key Points

• Canvas Wealth Advisors increased its Kimberly-Clark position by 186.5% in the second quarter, buying 28,291 additional shares for a total holding of 43,463 shares valued at $4.824 million. Institutional investors collectively own 76.29% of KMB.
• Kimberly-Clark reported quarterly earnings of $1.80 per share, below the $2.01 analyst consensus, while revenue of $4.19 billion was slightly under expectations but rose 0.6% year over year.
• The company declared a quarterly dividend of $1.28 per share, or $5.12 annually, representing a 4.7% yield. Analysts maintain an average “Hold” rating with a consensus price target of $117.93, compared with the stock’s $108.57 opening price.

Canvas Wealth Advisors LLC raised its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB - Free Report) by 186.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,463 shares of the company's stock after buying an additional 28,291 shares during the quarter. Kimberly-Clark comprises 0.7% of Canvas Wealth Advisors LLC's portfolio, making the stock its 29th biggest holding. Canvas Wealth Advisors LLC's holdings in Kimberly-Clark were worth $4,824,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new position in shares of Kimberly-Clark in the fourth quarter valued at $25,000. Darwin Wealth Management LLC bought a new stake in Kimberly-Clark in the second quarter worth $27,000. CrossGen Wealth LLC purchased a new stake in Kimberly-Clark during the fourth quarter valued at $27,000. Eagle Bay Advisors LLC purchased a new stake in Kimberly-Clark during the fourth quarter valued at $28,000. Finally, Motiv8 Investments LLC bought a new position in Kimberly-Clark during the fourth quarter valued at $31,000. Institutional investors own 76.29% of the company's stock.

Kimberly-Clark Price Performance

Kimberly-Clark stock opened at $108.57 on Wednesday. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $136.17. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 3.45. The firm has a 50-day moving average price of $107.26 and a 200-day moving average price of $102.97. The firm has a market capitalization of $36.11 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 5.14 and a beta of 0.26.

Kimberly-Clark (NASDAQ:KMB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.21). Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Kimberly-Clark Corporation will post 7.43 EPS for the current year.

Kimberly-Clark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.7%. Kimberly-Clark's dividend payout ratio is currently 87.07%.

Analyst Ratings Changes

KMB has been the topic of several recent research reports. Piper Sandler upped their target price on shares of Kimberly-Clark from $115.00 to $121.00 and gave the company an "overweight" rating in a research report on Wednesday, June 17th. Freedom Capital raised Kimberly-Clark from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. UBS Group upped their price objective on Kimberly-Clark from $115.00 to $116.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Seaport Research Partners raised Kimberly-Clark to a "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 company an "equal weight" rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Kimberly-Clark currently has an average rating of "Hold" and an average target price of $117.93.

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.

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