Truist Financial Corp Has $18.63 Million Stock Position in Kimberly-Clark Co. $KMB

Key Points

• Truist Financial Corp increased its stake in Kimberly-Clark Co. by 32.7%, owning 144,478 shares valued at approximately $18.63 million as of the latest SEC filing.
• Several hedge funds have adjusted their positions in Kimberly-Clark, with significant increases from Vanguard, Charles Schwab, and Price T Rowe Associates during the first quarter, highlighting a trend of institutional investment in the company.
• Wall Street analysts have mixed opinions on Kimberly-Clark, with a consensus rating of "Hold" and an average price target of $140.50, amidst recent price objective revisions by various firms.

Truist Financial Corp lifted its holdings in shares of Kimberly-Clark Co. (NYSE:KMB - Free Report) by 32.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,478 shares of the company's stock after purchasing an additional 35,579 shares during the quarter. Truist Financial Corp's holdings in Kimberly-Clark were worth $18,626,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Kimberly-Clark by 0.3% during the first quarter. Vanguard Group Inc. now owns 35,235,465 shares of the company's stock valued at $5,011,188,000 after buying an additional 92,920 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Kimberly-Clark by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,264,013 shares of the company's stock valued at $1,601,968,000 after buying an additional 674,046 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Kimberly-Clark by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,095,260 shares of the company's stock valued at $1,151,309,000 after buying an additional 566,152 shares during the last quarter. Invesco Ltd. raised its position in shares of Kimberly-Clark by 3.1% during the first quarter. Invesco Ltd. now owns 5,827,666 shares of the company's stock valued at $828,811,000 after buying an additional 173,915 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Kimberly-Clark by 0.9% during the first quarter. Royal Bank of Canada now owns 3,460,069 shares of the company's stock valued at $492,091,000 after buying an additional 29,453 shares during the last quarter. Institutional investors and hedge funds own 76.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KMB shares. Evercore ISI cut their price objective on shares of Kimberly-Clark from $155.00 to $150.00 and set an "outperform" rating for the company in a research report on Monday, September 22nd. JPMorgan Chase & Co. raised shares of Kimberly-Clark from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $125.00 to $138.00 in a report on Monday, August 4th. Piper Sandler reduced their price objective on shares of Kimberly-Clark from $149.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday. UBS Group reduced their price objective on shares of Kimberly-Clark from $146.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Finally, Barclays reduced their price objective on shares of Kimberly-Clark from $139.00 to $131.00 and set an "equal weight" rating for the company in a report on Wednesday. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Kimberly-Clark currently has a consensus rating of "Hold" and an average price target of $140.50.

Kimberly-Clark Price Performance

Shares of KMB stock opened at $122.58 on Friday. Kimberly-Clark Co. has a 1 year low of $121.02 and a 1 year high of $150.45. The firm's 50 day moving average is $128.85 and its 200-day moving average is $132.73. The firm has a market capitalization of $40.67 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 4.46 and a beta of 0.32. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 7.05.

Kimberly-Clark (NYSE:KMB - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.25. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the business earned $1.96 earnings per share. Kimberly-Clark's quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that Kimberly-Clark Co. will post 7.5 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, September 5th. Kimberly-Clark's dividend payout ratio is presently 69.42%.

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.

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