Kimberly-Clark Corporation (NYSE:KMB), a leading global manufacturer of personal care products, has reached a new 52-week high, with its stock price soaring to $145.68. This milestone reflects a significant uptrend in the company's market performance, marking a robust 13.49% increase in value over the past year. Investors have shown increased confidence in Kimberly-Clark's strategic initiatives and its ability to maintain a strong position in the competitive consumer goods sector, contributing to the stock's impressive climb to this new height. The 52-week high serves as a testament to the company's resilience and the positive reception of its products in the market amidst challenging economic conditions.
In other recent news, Kimberly-Clark Corporation continues its 90-year tradition of regular quarterly dividends, announcing a dividend of $1.22 per share, marking a consistent increase for 52 consecutive years. The company also reported robust earnings per share (EPS) in the second quarter of 2024, with volumes meeting expectations for the second consecutive quarter. Further, RBC Capital maintained its Outperform rating for Kimberly Clark , citing the company's effective strategy execution, and held a price target of $165.
Kimberly Clark's second quarter of 2024 showed improvements in market share and financial performance, particularly in North America, and the company plans to increase investments in the latter half of the year. Despite the divestiture of the personal protective equipment segment and anticipated cost inflation, the company remains focused on innovation, pricing discipline, and strategic investments.
RBC Capital raised its earnings estimate for Kimberly Clark for the full year 2024, based on the company's recent performance and increased EPS guidance. The company's adjusted effective tax rate is projected to be 23-24% for the full year. These are some of the recent developments in the company.
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