Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 323,052 Kimberly-Clark Corporation $KMB

Connor Clark & Lunn Investment Management Ltd. bought a new position in Kimberly-Clark Corporation (NASDAQ:KMB) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 323,052 shares of the company’s stock, valued at approximately $35,461,000.

A number of other institutional investors have also recently modified their holdings of KMB. Oregon Public Employees Retirement Fund raised its position in shares of Kimberly-Clark by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,999 shares of the company’s stock worth $3,834,000 after purchasing an additional 100 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in Kimberly-Clark by 0.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 15,093 shares of the company’s stock worth $1,523,000 after buying an additional 100 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Kimberly-Clark by 18.3% in the first quarter. AdvisorNet Financial Inc now owns 665 shares of the company’s stock worth $64,000 after buying an additional 103 shares in the last quarter. Core Wealth Partners LLC grew its holdings in shares of Kimberly-Clark by 2.6% during the fourth quarter. Core Wealth Partners LLC now owns 4,352 shares of the company’s stock valued at $439,000 after buying an additional 112 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Kimberly-Clark by 0.6% during the first quarter. Assetmark Inc. now owns 20,216 shares of the company’s stock valued at $1,950,000 after acquiring an additional 121 shares in the last quarter. 76.29% of the stock is owned by hedge funds and other institutional investors.

Kimberly-Clark Stock Performance

Shares of NASDAQ KMB opened at $111.37 on Tuesday. The firm has a 50 day moving average of $109.06 and a 200 day moving average of $103.54. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 3.45. The firm has a market capitalization of $37.04 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 5.20 and a beta of 0.26. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $133.94.

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

Kimberly-Clark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 4th will be issued a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, September 4th. Kimberly-Clark’s dividend payout ratio (DPR) is currently 87.07%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Piper Sandler reissued an “overweight” rating on shares of Kimberly-Clark in a report on Wednesday, August 19th. UBS Group raised their price target on Kimberly-Clark from $115.00 to $116.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Barclays lifted their price objective on Kimberly-Clark from $101.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Finally, TD Cowen upped their price objective on Kimberly-Clark from $96.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.93.

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.