SummitTX Capital L.P. Acquires 58,459 Shares of Kimberly-Clark Corporation $KMB

SummitTX Capital L.P. lifted its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 629.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,739 shares of the company’s stock after buying an additional 58,459 shares during the period. SummitTX Capital L.P.’s holdings in Kimberly-Clark were worth $6,535,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Gateway Wealth Partners LLC acquired a new position in Kimberly-Clark during the first quarter worth about $351,000. Weiss Asset Management LP acquired a new stake in shares of Kimberly-Clark in the 1st quarter valued at approximately $33,046,000. Delta Global Management LP bought a new stake in shares of Kimberly-Clark during the 1st quarter valued at approximately $990,000. Cypress Capital Group bought a new stake in shares of Kimberly-Clark during the 1st quarter valued at approximately $203,000. Finally, OMERS ADMINISTRATION Corp increased its position in Kimberly-Clark by 30.5% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 15,777 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,686 shares in the last quarter. 76.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KMB has been the subject of several research reports. Piper Sandler increased their price objective on shares of Kimberly-Clark from $115.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Barclays upped their price target on shares of Kimberly-Clark from $101.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. UBS Group raised their price objective on Kimberly-Clark from $106.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company boosted their price objective on Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $117.93.

Kimberly-Clark Stock Up 1.6%

Shares of NASDAQ KMB opened at $111.44 on Tuesday. The company has a 50 day simple moving average of $104.68 and a 200 day simple moving average of $102.12. The firm has a market cap of $36.99 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 4.92 and a beta of 0.26. Kimberly-Clark Corporation has a 1 year low of $92.42 and a 1 year high of $137.46. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.77 and a quick ratio of 0.55.

Kimberly-Clark (NASDAQ:KMB) last posted its earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the previous year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Kimberly-Clark Corporation will post 7.47 EPS for the current year.

Kimberly-Clark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th were paid a dividend of $1.28 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.12 annualized dividend and a dividend yield of 4.6%. Kimberly-Clark’s dividend payout ratio (DPR) is presently 80.38%.

Insiders Place Their Bets

In related news, VP Andrew Scribner sold 4,095 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total value of $401,310.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katy Chen sold 1,596 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $95.34, for a total value of $152,162.64. Following the transaction, the insider directly owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. This represents a 16.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 7,096 shares of company stock worth $689,687. 0.75% of the stock is owned by company insiders.

About Kimberly-Clark

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.