Wells Fargo & Company Issues Positive Forecast for Kimberly-Clark (NASDAQ:KMB) Stock Price

Kimberly-Clark (NASDAQ:KMB) had its target price increased by Wells Fargo & Company from $100.00 to $110.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on KMB. Piper Sandler boosted their price objective on Kimberly-Clark from $115.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Barclays lowered their target price on Kimberly-Clark from $105.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. UBS Group boosted their price target on Kimberly-Clark from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Finally, Bank of America lowered their price target on Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kimberly-Clark presently has an average rating of “Hold” and an average price target of $116.14.

Kimberly-Clark Trading Down 3.3%

Kimberly-Clark stock opened at $110.98 on Wednesday. Kimberly-Clark has a 1 year low of $92.42 and a 1 year high of $137.46. The firm’s 50-day moving average is $101.67 and its 200-day moving average is $101.33. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.55 and a current ratio of 0.77. The company has a market cap of $36.84 billion, a P/E ratio of 17.42, a PEG ratio of 5.14 and a beta of 0.26.

Kimberly-Clark (NASDAQ:KMB) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.04. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. Kimberly-Clark’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that Kimberly-Clark will post 7.48 earnings per share for the current year.

Kimberly-Clark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued 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 4.6%. Kimberly-Clark’s dividend payout ratio is currently 80.38%.

Insiders Place Their Bets

In related news, insider Katy Chen sold 1,596 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the completion of the sale, the insider directly owned 8,362 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total transaction of $401,310.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,096 shares of company stock valued at $689,687 in the last quarter. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ally Financial Inc. bought a new position in Kimberly-Clark during the 4th quarter valued at about $1,009,000. Jain Global LLC acquired a new stake in shares of Kimberly-Clark in the third quarter valued at $11,973,000. Westpac Banking Corp grew its holdings in Kimberly-Clark by 25.0% during the 4th quarter. Westpac Banking Corp now owns 54,135 shares of the company’s stock worth $5,462,000 after acquiring an additional 10,811 shares during the last quarter. Nordea Investment Management AB increased its position in Kimberly-Clark by 13.7% in the 4th quarter. Nordea Investment Management AB now owns 2,774,290 shares of the company’s stock valued at $281,258,000 after acquiring an additional 334,598 shares in the last quarter. Finally, Oddo BHF Asset Management Sas increased its position in Kimberly-Clark by 29.6% in the 4th quarter. Oddo BHF Asset Management Sas now owns 61,795 shares of the company’s stock valued at $6,234,000 after acquiring an additional 14,115 shares in the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.

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.