Kimberly-Clark reaches 52-week high amid strong market performance

Kimberly-Clark Corporation, a global leader in personal care product manufacturing, has reached a 52-week high, with its stock price climbing to US$145.68. This reflected a 13.49% increase in value over the past year, demonstrating strong market performance. Investor confidence in the company’s strategic direction and its ability to sustain a competitive edge in the consumer goods sector has contributed to the stock’s notable rise. The 52-week high highlighted the company’s resilience and the market’s positive reception to its products, despite ongoing economic challenges. 

In addition, Kimberly-Clark recently announced a quarterly dividend of US$1.22 per share, continuing a 90-year tradition of regular dividends and marking the 52nd consecutive year of dividend increases. The company also reported solid earnings per share (EPS) for the second quarter of 2024, with volumes meeting expectations for the second quarter in a row. RBC Capital reiterated its Outperform rating for Kimberly-Clark, citing the company’s strong execution of its strategies and maintaining a price target of US$165. 

The second quarter of 2024 saw improvements in Kimberly-Clark’s market share and financial performance, particularly in North America. The company has announced plans to increase investments in the latter half of the year. Despite the divestiture of its personal protective equipment segment and the challenges posed by anticipated cost inflation, Kimberly-Clark remained committed to innovation, pricing discipline, and strategic investments. 

RBC Capital has also raised its earnings estimate for Kimberly-Clark for the full year 2024, following the company’s recent performance and its higher EPS guidance. The adjusted effective tax rate for the company is projected to be between 23% and 24% for the year.