T. Rowe Price Investment Management Inc. Invests $359,000 in Kimberly-Clark Co. $KMB

Key Points

• T. Rowe Price Investment Management Inc. acquired a stake in Kimberly-Clark Co. by purchasing 2,520 shares, valued at approximately $359,000.
• Kimberly-Clark reported earnings of $1.92 per share for the last quarter, exceeding analyst expectations of $1.67, though revenue declined 1.6% year-over-year.
• The company has declared a quarterly dividend of $1.26 per share, which represents an annualized yield of 3.9%, to be paid on October 2nd.

T. Rowe Price Investment Management Inc. acquired a new stake in shares of Kimberly-Clark Co. (NYSE:KMB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,520 shares of the company's stock, valued at approximately $359,000.

Several other institutional investors have also added to or reduced their stakes in KMB. Elevate Capital Advisors LLC lifted its holdings in shares of Kimberly-Clark by 46.4% in the first quarter. Elevate Capital Advisors LLC now owns 12,444 shares of the company's stock worth $1,770,000 after buying an additional 3,944 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Kimberly-Clark by 86.8% in the first quarter. Citigroup Inc. now owns 509,585 shares of the company's stock worth $72,473,000 after buying an additional 236,733 shares in the last quarter. Unigestion Holding SA lifted its holdings in shares of Kimberly-Clark by 8.2% in the first quarter. Unigestion Holding SA now owns 127,623 shares of the company's stock worth $18,145,000 after buying an additional 9,643 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Kimberly-Clark by 270.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 984,695 shares of the company's stock worth $140,043,000 after buying an additional 718,720 shares in the last quarter. Finally, Farmers Trust Co. lifted its holdings in shares of Kimberly-Clark by 108.6% in the first 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. 76.29% of the stock is owned by hedge funds and other institutional investors.

Kimberly-Clark Trading Up 0.3%

Shares of Kimberly-Clark stock traded up $0.42 on Friday, hitting $129.14. The stock had a trading volume of 1,785,551 shares, compared to its average volume of 2,309,663. The stock has a market cap of $42.85 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 4.46 and a beta of 0.33. The stock's 50-day simple moving average is $130.51 and its two-hundred day simple moving average is $135.14. Kimberly-Clark Co. has a one year low of $124.10 and a one year high of $150.45. 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 (NYSE:KMB - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.85 billion. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 earnings per share. As a group, sell-side analysts predict that Kimberly-Clark Co. will post 7.5 EPS for the current year.

Kimberly-Clark Dividend Announcement

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 given 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 3.9%. Kimberly-Clark's dividend payout ratio (DPR) is currently 69.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler initiated coverage on shares of Kimberly-Clark in a report on Friday, July 18th. They issued an "overweight" rating and a $144.00 price target on the stock. Barclays raised 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. raised shares of Kimberly-Clark from an "underweight" rating to a "neutral" rating and raised their target price for the company from $125.00 to $138.00 in a research note on Monday, August 4th. Finally, UBS Group lowered their target price on shares of Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $142.70.

Kimberly-Clark Company Profile

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.