Kimberly-Clark (NYSE:KMB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports. The firm presently has a $141.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 5.81% from the stock’s current price.
According to Zacks, “Shares of Kimberly-Clark have outperformed the industry in the past three months. The company is taking robust steps to lower costs. Management raised its savings target from the 2018 Global Restructuring and Focus on Reducing Costs Everywhere programs. Additionally, Kimberly-Clark is on track with its K-C Strategy 2022. That said, the company has been seeing rising input costs and other manufacturing expenses for a while now. The trend lingered in the second quarter of 2021, wherein the top and bottom lines missed the Zacks Consensus Estimate and the latter fell year over year. Results reflect considerably high input costs, along with a reversal of consumer tissue volumes, which hurt organic sales in North America. Consumer tissue volumes are declining as retailers and consumers in North America are curtailing inventory and at-home stocking.”
Several other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on Kimberly-Clark from $137.00 to $139.00 and gave the stock a “hold” rating in a research note on Friday, July 9th. HSBC began coverage on Kimberly-Clark in a research report on Thursday, September 9th. They set a “hold” rating and a $131.00 price objective for the company. Royal Bank of Canada cut their price objective on Kimberly-Clark from $137.00 to $135.00 and set a “sector perform” rating for the company in a research report on Monday, July 26th. Jefferies Financial Group boosted their price objective on Kimberly-Clark from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, July 19th. Finally, UBS Group began coverage on Kimberly-Clark in a research report on Wednesday, June 23rd. They set a “neutral” rating and a $135.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $141.67.
Kimberly-Clark (NYSE:KMB) last issued its earnings results on Thursday, July 22nd. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.24). The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Kimberly-Clark had a net margin of 10.53% and a return on equity of 308.07%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. On average, analysts anticipate that Kimberly-Clark will post 6.73 earnings per share for the current fiscal year.
In other news, insider Kimberly K. Underhill sold 19,018 shares of the company’s stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $135.84, for a total value of $2,583,405.12. Following the sale, the insider now directly owns 62,042 shares in the company, valued at approximately $8,427,785.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Aaron Powell sold 29,534 shares of the stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $139.51, for a total value of $4,120,288.34. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KMB. Bogart Wealth LLC bought a new stake in Kimberly-Clark during the 2nd quarter worth approximately $27,000. Certified Advisory Corp bought a new position in Kimberly-Clark in the 1st quarter valued at $29,000. Krane Funds Advisors LLC bought a new position in Kimberly-Clark in the 2nd quarter valued at $32,000. Eubel Brady & Suttman Asset Management Inc. bought a new position in Kimberly-Clark in the 2nd quarter valued at $35,000. Finally, SRS Capital Advisors Inc. bought a new position in Kimberly-Clark in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 71.37% of the company’s stock.
Kimberly-Clark Company Profile
Kimberly-Clark Corp. engages in the manufacture and marketing of products made from natural or synthetic fibers. It operates through the following segments: Personal Care, Consumer Tissue, and K-C Professional (KCP). The Personal Care segment offers disposable diapers, training and youth pants, swim pants, baby wipes, feminine and incontinence care products, and other related products.
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