Canvas Wealth Advisors LLC Raises Stake in Kimberly-Clark Corporation $KMB

Canvas Wealth Advisors LLC lifted its stake in Kimberly-Clark Corporation (NASDAQ:KMB) by 186.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,463 shares of the company’s stock after purchasing an additional 28,291 shares during the period. Kimberly-Clark comprises about 0.7% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 29th largest position. Canvas Wealth Advisors LLC’s holdings in Kimberly-Clark were worth $4,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in KMB. Brighton Jones LLC increased its position in shares of Kimberly-Clark by 74.1% during the fourth quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock worth $851,000 after acquiring an additional 2,765 shares during the period. The Manufacturers Life Insurance Company boosted its holdings 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 purchasing an additional 24,698 shares during the period. Treasurer of the State of North Carolina boosted its holdings 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 purchasing an additional 87,455 shares during the period. Main Street Financial Solutions LLC grew its stake in Kimberly-Clark by 11.0% in the second quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock worth $424,000 after purchasing an additional 326 shares in the last quarter. Finally, HUB Investment Partners LLC grew its stake in Kimberly-Clark by 20.5% in the second quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock worth $1,372,000 after purchasing an additional 1,811 shares in the last quarter. Hedge funds and other institutional investors own 76.29% of the company’s stock.

Kimberly-Clark Stock Performance

Shares of KMB stock opened at $108.57 on Wednesday. The firm has a market cap of $36.11 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 5.14 and a beta of 0.26. Kimberly-Clark Corporation has a 52-week low of $92.42 and a 52-week high of $136.17. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 3.45. The company’s 50 day moving average is $107.26 and its 200 day moving average is $102.97.

Kimberly-Clark (NASDAQ:KMB) last announced its earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.21). The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.22 billion. Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $1.92 EPS. On average, sell-side analysts anticipate that Kimberly-Clark Corporation will post 7.43 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 4th will be paid a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, September 4th. Kimberly-Clark’s dividend payout ratio is 87.07%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KMB. Wells Fargo & Company lifted their target price on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Barclays increased their price target on Kimberly-Clark from $101.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Piper Sandler raised their price target on Kimberly-Clark from $115.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Freedom Capital upgraded Kimberly-Clark from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, UBS Group upped their price objective on shares of Kimberly-Clark from $115.00 to $116.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $117.93.

About Kimberly-Clark

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.