Patrick Mauro Investment Advisor INC. Makes New Investment in Kimberly-Clark Corporation $KMB

Patrick Mauro Investment Advisor INC. bought a new stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB) in the second quarter, Holdings Channel.com reports. The fund bought 74,186 shares of the company’s stock, valued at approximately $8,143,000. Kimberly-Clark accounts for 4.1% of Patrick Mauro Investment Advisor INC.’s portfolio, making the stock its 8th largest position.

A number of other hedge funds have also recently made changes to their positions in KMB. Chancellor Financial Group WB LP purchased a new position in Kimberly-Clark in the 2nd quarter worth about $426,000. Great Lakes Advisors LLC bought a new stake in Kimberly-Clark during the 2nd quarter valued at about $429,000. Avaii Wealth Management LLC purchased a new stake in Kimberly-Clark in the 2nd quarter valued at about $1,266,000. Compass Wealth Management LLC bought a new position in Kimberly-Clark in the 2nd quarter worth about $774,000. Finally, Danske Bank A S bought a new position in Kimberly-Clark in the 2nd quarter worth about $17,210,000. 76.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Freedom Capital raised shares of Kimberly-Clark from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Weiss Ratings raised Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Seaport Research Partners upgraded Kimberly-Clark to a “buy” rating in a report on Tuesday, August 4th. Piper Sandler reaffirmed an “overweight” rating on shares of Kimberly-Clark in a research report on Wednesday. Finally, UBS Group upped their target price on Kimberly-Clark from $115.00 to $116.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $117.93.

Kimberly-Clark Trading Up 2.0%

NASDAQ:KMB opened at $109.88 on Thursday. Kimberly-Clark Corporation has a one year low of $92.42 and a one year high of $136.17. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.69 and a current ratio of 0.91. The firm has a market cap of $36.54 billion, a P/E ratio of 18.69, a P/E/G ratio of 5.13 and a beta of 0.26. The firm has a 50-day simple moving average of $108.61 and a 200-day simple moving average of $103.33.

Kimberly-Clark (NASDAQ:KMB) last announced 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). Kimberly-Clark had a return on equity of 143.92% and a net margin of 11.79%.The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the company posted $1.92 EPS. Kimberly-Clark’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts anticipate that Kimberly-Clark Corporation will post 7.43 EPS for the current fiscal year.

Kimberly-Clark Announces Dividend

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

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.