Summit Global Investments Boosts Position in Kimberly-Clark Co. (NYSE:KMB)

Summit Global Investments raised its stake in Kimberly-Clark Co. (NYSE:KMB - Free Report) by 510.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,371 shares of the company's stock after purchasing an additional 48,814 shares during the quarter. Summit Global Investments' holdings in Kimberly-Clark were worth $7,649,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Kimberly-Clark by 5.9% during the 3rd quarter. State Street Corp now owns 19,304,396 shares of the company's stock worth $2,768,367,000 after purchasing an additional 1,083,824 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Kimberly-Clark by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,589,967 shares of the company's stock worth $1,387,709,000 after buying an additional 529,223 shares during the last quarter. Geode Capital Management LLC increased its position in Kimberly-Clark by 2.8% during the third quarter. Geode Capital Management LLC now owns 7,675,506 shares of the company's stock worth $1,092,388,000 after buying an additional 206,671 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Kimberly-Clark by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,040,747 shares of the company's stock valued at $398,459,000 after buying an additional 30,312 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Kimberly-Clark by 20.4% in the fourth quarter. Nordea Investment Management AB now owns 2,740,525 shares of the company's stock valued at $358,625,000 after buying an additional 464,615 shares during the last quarter. Institutional investors and hedge funds own 76.29% of the company's stock.

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Kimberly-Clark Price Performance

NYSE:KMB traded up $2.54 during midday trading on Wednesday, hitting $139.53. The company had a trading volume of 2,209,888 shares, compared to its average volume of 2,035,582. The company has a market capitalization of $46.28 billion, a PE ratio of 18.48, a P/E/G ratio of 4.46 and a beta of 0.36. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 7.05. Kimberly-Clark Co. has a 52-week low of $123.84 and a 52-week high of $150.45. The stock's fifty day moving average price is $135.30 and its 200-day moving average price is $136.04.

Kimberly-Clark (NYSE:KMB - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Kimberly-Clark had a net margin of 12.69% and a return on equity of 201.43%. As a group, research analysts expect that Kimberly-Clark Co. will post 7.5 earnings per share for the current year.

Kimberly-Clark Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Kimberly-Clark's previous quarterly dividend of $1.22. Kimberly-Clark's dividend payout ratio is 66.75%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KMB shares. StockNews.com raised shares of Kimberly-Clark from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. UBS Group boosted their price target on Kimberly-Clark from $132.00 to $134.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Citigroup lowered their price objective on Kimberly-Clark from $125.00 to $118.00 and set a "sell" rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company decreased their price target on shares of Kimberly-Clark from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $158.00 price objective (down previously from $161.00) on shares of Kimberly-Clark in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kimberly-Clark has an average rating of "Hold" and an average price target of $143.64.

Insider Transactions at Kimberly-Clark

In other Kimberly-Clark news, VP Andrew Drexler sold 2,500 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $140.00, for a total value of $350,000.00. Following the sale, the vice president now owns 2,553 shares of the company's stock, valued at $357,420. This trade represents a 49.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.64% of the company's stock.

Kimberly-Clark Company 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.