Allspring Global Investments Holdings LLC Has $2.71 Million Stock Position in Kimberly-Clark Corporation $KMB

Allspring Global Investments Holdings LLC trimmed its position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 49.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,001 shares of the company’s stock after selling 21,259 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kimberly-Clark were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Kimberly-Clark by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 40,435,476 shares of the company’s stock valued at $5,212,942,000 after acquiring an additional 5,200,011 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Kimberly-Clark by 1.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,482,657 shares of the company’s stock valued at $1,480,344,000 after purchasing an additional 218,644 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kimberly-Clark by 4.6% in the second quarter. Geode Capital Management LLC now owns 8,254,137 shares of the company’s stock valued at $1,065,423,000 after purchasing an additional 363,865 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Kimberly-Clark by 4.6% in the second quarter. Invesco Ltd. now owns 6,097,800 shares of the company’s stock valued at $786,128,000 after purchasing an additional 270,134 shares in the last quarter. Finally, Norges Bank bought a new position in Kimberly-Clark in the 2nd quarter worth approximately $556,114,000. Institutional investors and hedge funds own 76.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KMB shares. BNP Paribas reissued a “neutral” rating and set a $110.00 price objective on shares of Kimberly-Clark in a report on Monday, December 1st. Argus raised shares of Kimberly-Clark from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Thursday, November 13th. Piper Sandler dropped their price target on shares of Kimberly-Clark from $149.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. Barclays set a $132.00 price objective on shares of Kimberly-Clark in a report on Monday, November 3rd. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $120.00 price objective (down from $150.00) on shares of Kimberly-Clark in a research note on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $122.31.

Kimberly-Clark Trading Up 1.3%

Shares of NASDAQ KMB opened at $98.87 on Friday. Kimberly-Clark Corporation has a twelve month low of $96.26 and a twelve month high of $150.45. The stock has a market cap of $32.81 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 3.74 and a beta of 0.26. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 4.41. The company’s fifty day moving average is $103.13 and its 200-day moving average is $118.82.

Kimberly-Clark (NASDAQ:KMB) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.37. Kimberly-Clark had a return on equity of 183.11% and a net margin of 10.89%.The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the firm earned $1.83 EPS. Kimberly-Clark’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Kimberly-Clark Corporation will post 7.5 EPS for the current year.

Kimberly-Clark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were issued a dividend of $1.26 per share. The ex-dividend date was Friday, December 5th. This represents a $5.04 annualized dividend and a yield of 5.1%. Kimberly-Clark’s dividend payout ratio is presently 85.28%.

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.