2,037,602 Shares in Kimberly-Clark Corporation $KMB Purchased by Legal & General Group Plc

Legal & General Group Plc acquired a new position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,037,602 shares of the company’s stock, valued at approximately $223,668,000. Legal & General Group Plc owned approximately 0.61% of Kimberly-Clark at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Kimberly-Clark in the 2nd quarter valued at approximately $3,547,915,000. Wellington Management Group LLP raised its holdings in shares of Kimberly-Clark by 26,997.7% in the fourth quarter. Wellington Management Group LLP now owns 7,368,407 shares of the company’s stock valued at $743,399,000 after buying an additional 7,341,215 shares during the last quarter. Norges Bank acquired a new position in shares of Kimberly-Clark during the fourth quarter worth approximately $521,184,000. Bank of New York Mellon Corp acquired a new position in Kimberly-Clark during the 2nd quarter worth $239,612,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in Kimberly-Clark in the 2nd quarter valued at $188,902,000. Institutional investors own 76.29% of the company’s stock.

Kimberly-Clark Stock Performance

KMB opened at $110.34 on Thursday. The stock has a market cap of $36.70 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 5.29 and a beta of 0.26. The business has a 50 day moving average of $109.37 and a 200-day moving average of $103.63. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $131.53. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 3.45.

Kimberly-Clark (NASDAQ:KMB) last posted 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 company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the business posted $1.92 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts expect that Kimberly-Clark Corporation will post 7.42 earnings per share for the current year.

Kimberly-Clark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 4th. Kimberly-Clark’s payout ratio is presently 87.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating on shares of Kimberly-Clark in a research note on Wednesday, August 19th. Barclays raised their price target on Kimberly-Clark from $101.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. UBS Group boosted their price objective on Kimberly-Clark from $115.00 to $116.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Finally, Seaport Research Partners raised shares of Kimberly-Clark to a “buy” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.