Allstate Corp Purchases 6,050 Shares of Kimberly-Clark Co. $KMB

Allstate Corp grew its holdings in Kimberly-Clark Co. (NYSE:KMB) by 60.2% during the 1st quarter, Holdings Channel reports. The firm owned 16,097 shares of the company’s stock after purchasing an additional 6,050 shares during the period. Allstate Corp’s holdings in Kimberly-Clark were worth $2,289,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of KMB. Cornerstone Wealth Management LLC boosted its stake in Kimberly-Clark by 1.9% in the first quarter. Cornerstone Wealth Management LLC now owns 4,056 shares of the company’s stock valued at $577,000 after acquiring an additional 74 shares during the last quarter. Tudor Financial Inc. lifted its stake in shares of Kimberly-Clark by 3.8% in the 1st quarter. Tudor Financial Inc. now owns 2,042 shares of the company’s stock valued at $290,000 after purchasing an additional 75 shares during the period. Park National Corp OH boosted its position in shares of Kimberly-Clark by 2.6% in the 1st quarter. Park National Corp OH now owns 3,031 shares of the company’s stock worth $431,000 after purchasing an additional 77 shares during the last quarter. Hoge Financial Services LLC grew its stake in shares of Kimberly-Clark by 4.2% during the first quarter. Hoge Financial Services LLC now owns 1,907 shares of the company’s stock worth $271,000 after purchasing an additional 77 shares during the period. Finally, Nwam LLC grew its stake in shares of Kimberly-Clark by 1.2% during the first quarter. Nwam LLC now owns 6,386 shares of the company’s stock worth $908,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 76.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on KMB. UBS Group cut their target price on Kimberly-Clark from $146.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Barclays increased their price target on shares of Kimberly-Clark from $134.00 to $139.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Piper Sandler assumed coverage on shares of Kimberly-Clark in a report on Friday, July 18th. They set an “overweight” rating and a $144.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded shares of Kimberly-Clark from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $125.00 to $138.00 in a report on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $142.70.

Kimberly-Clark Stock Performance

KMB opened at $133.49 on Friday. The company has a market capitalization of $44.29 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 4.46 and a beta of 0.33. The business’s 50-day moving average price is $130.43 and its two-hundred day moving average price is $135.14. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.80 and a quick ratio of 0.54. Kimberly-Clark Co. has a 1 year low of $124.10 and a 1 year high of $150.45.

Kimberly-Clark (NYSE:KMB) last released its quarterly earnings results on Friday, August 1st. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.25. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.85 billion. Kimberly-Clark had a return on equity of 201.43% and a net margin of 12.69%.The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 EPS. Equities analysts expect that Kimberly-Clark Co. will post 7.5 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, September 5th. Kimberly-Clark’s dividend payout ratio is presently 69.42%.

Kimberly-Clark Profile

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care and consumer tissue products in the United States. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional. The company’s Personal Care segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Sweety, Kotex, U by Kotex, Intimus, Thinx, Poise, Depend, Plenitud, Softex, and other brand names.