Canvas Wealth Advisors LLC Boosts Position in Kimberly-Clark Corporation $KMB

Canvas Wealth Advisors LLC raised its holdings in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 113.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,172 shares of the company’s stock after buying an additional 8,078 shares during the period. Canvas Wealth Advisors LLC’s holdings in Kimberly-Clark were worth $1,481,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC raised its position in Kimberly-Clark by 74.1% in the fourth quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock valued at $851,000 after purchasing an additional 2,765 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Kimberly-Clark by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company’s stock valued at $46,923,000 after buying an additional 24,698 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Kimberly-Clark by 44.3% in the second quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company’s stock valued at $36,698,000 after buying an additional 87,455 shares in the last quarter. Main Street Financial Solutions LLC raised its holdings in shares of Kimberly-Clark by 11.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock valued at $424,000 after buying an additional 326 shares during the period. Finally, HUB Investment Partners LLC raised its holdings in shares of Kimberly-Clark by 20.5% during the 2nd quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock valued at $1,372,000 after buying an additional 1,811 shares during the period. 76.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KMB has been the subject of a number of analyst reports. UBS Group upped their price target on Kimberly-Clark from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Piper Sandler boosted their target price on shares of Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Wells Fargo & Company lowered their price target on shares of Kimberly-Clark from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Kimberly-Clark in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kimberly-Clark has a consensus rating of “Hold” and an average target price of $115.43.

Kimberly-Clark Price Performance

KMB stock opened at $113.01 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 3.38. Kimberly-Clark Corporation has a 52-week low of $92.42 and a 52-week high of $137.46. The stock’s 50 day moving average is $101.08 and its two-hundred day moving average is $101.18. The company has a market capitalization of $37.51 billion, a PE ratio of 17.74, a P/E/G ratio of 5.14 and a beta of 0.26.

Kimberly-Clark (NASDAQ:KMB) last released its earnings results on Tuesday, April 28th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.93 by $0.04. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 EPS. Analysts predict that Kimberly-Clark Corporation will post 7.48 earnings per share for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th were given a $1.28 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.12 annualized dividend and a dividend yield of 4.5%. Kimberly-Clark’s payout ratio is presently 80.38%.

Insider Activity

In other news, insider Katy Chen sold 1,596 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $95.34, for a total transaction of $152,162.64. Following the transaction, the insider owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. This trade represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Andrew Scribner sold 4,095 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total value of $401,310.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,096 shares of company stock worth $689,687 in the last ninety days. Corporate insiders own 0.75% of the company’s stock.

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.