L2 Asset Management LLC Buys New Shares in Kimberly-Clark Corporation $KMB

L2 Asset Management LLC bought a new position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,207 shares of the company’s stock, valued at approximately $573,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Kimberly-Clark by 74.1% in the fourth quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock worth $851,000 after acquiring an additional 2,765 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Kimberly-Clark by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company’s stock worth $46,923,000 after purchasing an additional 24,698 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Kimberly-Clark by 44.3% during the second quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company’s stock worth $36,698,000 after purchasing an additional 87,455 shares during the period. Main Street Financial Solutions LLC raised its stake in Kimberly-Clark by 11.0% during the second quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock worth $424,000 after purchasing an additional 326 shares during the period. Finally, HUB Investment Partners LLC boosted its holdings in shares of Kimberly-Clark by 20.5% in the 2nd quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock valued at $1,372,000 after purchasing an additional 1,811 shares during the last quarter. 76.29% of the stock is owned by institutional investors and hedge funds.

Kimberly-Clark Stock Down 0.3%

Shares of Kimberly-Clark stock opened at $111.02 on Wednesday. The business has a 50-day moving average of $109.19 and a 200-day moving average of $103.59. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.91 and a quick ratio of 0.69. The company has a market capitalization of $36.92 billion, a PE ratio of 18.88, a P/E/G ratio of 5.31 and a beta of 0.26. Kimberly-Clark Corporation has a 1-year low of $92.42 and a 1-year high of $131.53.

Kimberly-Clark (NASDAQ:KMB) last announced its earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.21). Kimberly-Clark had a return on equity of 143.92% and a net margin of 11.79%.The business had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Kimberly-Clark Corporation will post 7.42 EPS for the current fiscal year.

Kimberly-Clark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be issued a dividend of $1.28 per share. The ex-dividend date is Friday, September 4th. This represents a $5.12 annualized dividend and a yield of 4.6%. Kimberly-Clark’s payout ratio is currently 87.07%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Kimberly-Clark from $96.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Freedom Capital upgraded Kimberly-Clark from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Wells Fargo & Company upped their price target on Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Barclays raised their price target on shares of Kimberly-Clark from $101.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, UBS Group raised 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.