UL - Kimberly-Clark: Dividends Are Good But No Upside
2023-03-16 01:38:01 ET
Summary
- Kimberly-Clark Corporation produces and sells personal care and consumer tissue products globally through brands such as Kleenex and Andrex.
- KMB has modernized its operations, setting itself up well for continued success long term.
- Management has delivered a robust performance in FY22, balancing price increases based on the inelasticity of their product's demand.
- The last decade of financial performance can be described as consistent but stagnant. This has been good enough to drive consistent dividend and buyback growth.
- We see no capital appreciation upside, so rate KMB stock a hold but consider it a safe dividend play.
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Kimberly-Clark: Dividends Are Good But No Upside