Cibc World Market Inc. Acquires New Stake in Kimberly-Clark Corporation $KMB

Cibc World Market Inc. acquired a new stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 209,354 shares of the company’s stock, valued at approximately $22,981,000. Cibc World Market Inc. owned 0.06% of Kimberly-Clark at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of KMB. BlackRock Inc. bought a new position in shares of Kimberly-Clark during the 2nd quarter worth $3,547,915,000. Wellington Management Group LLP raised its stake in Kimberly-Clark by 26,997.7% in the 4th quarter. Wellington Management Group LLP now owns 7,368,407 shares of the company’s stock valued at $743,399,000 after acquiring an additional 7,341,215 shares during the period. Norges Bank purchased a new stake in Kimberly-Clark during the fourth quarter valued at about $521,184,000. Bank of New York Mellon Corp bought a new position in Kimberly-Clark during the second quarter worth about $239,612,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Kimberly-Clark in the second quarter worth about $188,902,000. 76.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group raised their price objective on shares of Kimberly-Clark from $115.00 to $116.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Seaport Research Partners upgraded Kimberly-Clark to a “buy” rating in a research report on Tuesday, August 4th. TD Cowen raised their price target on Kimberly-Clark from $96.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Wells Fargo & Company lifted their price target on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Finally, Barclays raised their target price on Kimberly-Clark from $101.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $117.93.

Kimberly-Clark Price Performance

Shares of NASDAQ:KMB opened at $109.31 on Monday. The firm has a fifty day moving average price of $108.89 and a two-hundred day moving average price of $103.46. The company has a market cap of $36.35 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 5.20 and a beta of 0.26. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.91 and a quick ratio of 0.69. Kimberly-Clark Corporation has a one year low of $92.42 and a one year high of $134.38.

Kimberly-Clark (NASDAQ:KMB) last released 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 return on equity of 143.92% and a net margin of 11.79%.The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the company posted $1.92 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that Kimberly-Clark Corporation will post 7.43 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be paid a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, September 4th. Kimberly-Clark’s dividend payout ratio is currently 87.07%.

Kimberly-Clark Company 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.