Wells Fargo & Company Cuts Kimberly-Clark (NASDAQ:KMB) Price Target to $105.00

Kimberly-Clark (NASDAQ:KMB) had its price objective reduced by Wells Fargo & Company from $110.00 to $105.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Freedom Capital upgraded shares of Kimberly-Clark from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. TD Cowen increased their price objective on shares of Kimberly-Clark from $96.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Seaport Research Partners raised shares of Kimberly-Clark to a “buy” rating in a report on Tuesday, August 4th. Piper Sandler restated an “overweight” rating on shares of Kimberly-Clark in a research report on Wednesday, August 19th. Finally, Barclays upped 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.36.

Kimberly-Clark Stock Performance

Shares of KMB stock opened at $98.15 on Thursday. The firm has a market capitalization of $32.64 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 4.11 and a beta of 0.25. 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 business has a fifty day moving average of $108.69 and a 200 day moving average of $103.44. Kimberly-Clark has a 1 year low of $92.42 and a 1 year high of $129.87.

Kimberly-Clark (NASDAQ:KMB) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share 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 analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts expect that Kimberly-Clark will post 7.37 earnings per share for the current year.

Kimberly-Clark Dividend Announcement

The company 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 $1.28 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.12 dividend on an annualized basis and a yield of 5.2%. Kimberly-Clark’s payout ratio is presently 87.07%.

Institutional Investors Weigh In On Kimberly-Clark

Several hedge funds have recently modified their holdings of KMB. California State Teachers Retirement System grew its holdings in Kimberly-Clark by 11,088.4% in the second quarter. California State Teachers Retirement System now owns 43,186,921 shares of the company’s stock valued at $4,740,628,000 after purchasing an additional 42,800,922 shares during the period. BlackRock Inc. acquired a new position in shares of Kimberly-Clark during the 2nd quarter worth approximately $3,547,915,000. Wellington Management Group LLP raised its stake in shares of Kimberly-Clark by 26,997.7% during the 4th quarter. Wellington Management Group LLP now owns 7,368,407 shares of the company’s stock worth $743,399,000 after buying an additional 7,341,215 shares during the period. Thornburg Investment Management Inc. purchased a new position in shares of Kimberly-Clark during the 2nd quarter valued at approximately $632,373,000. Finally, Norges Bank purchased a new position in shares of Kimberly-Clark during the 4th quarter valued at approximately $521,184,000. 76.29% of the stock is owned by hedge funds and other institutional investors.

Kimberly-Clark Company Profile

Kimberly-Clark Corporation is a global manufacturer of personal care and consumer tissue products. The company develops and markets products designed to support personal hygiene, health and well-being in households, healthcare settings and workplaces.

Its portfolio includes well-known brands such as Huggies diapers and training pants, Kleenex facial tissues, Cottonelle toilet paper and wipes, Scott toilet paper and paper towels, Kotex feminine care products, and Depend and Poise incontinence care products.