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Cramer Bets Big on Kimberly-Clark Despite Stock Slump
6 Oct
Summary
- Jim Cramer recommends buying Kimberly-Clark stock, calling it 'unstoppable'.
- Kimberly-Clark's stock has fallen nearly 20% in the past year.
- The company is involved in a major acquisition deal with Kenvue.
Jim Cramer, host of 'Mad Money,' advised viewers to consider buying Kimberly-Clark (KMB) stock, even as it has experienced a significant drop of around 20% over the past year. This decline has been attributed to factors including investor uncertainty surrounding the company's substantial $48.7 billion acquisition deal with Kenvue.
Despite market headwinds, Cramer expressed strong conviction in Kimberly-Clark's future, particularly highlighting the Kenvue consolidation as "unstoppable." He indicated a willingness to purchase more shares, stating his belief that the stock is a sound investment in the $90 price range and that he would not regret buying it in the coming years.
Kimberly-Clark, a major producer of household staples such as Kleenex and Huggies, recently increased its quarterly dividend to $1.28 per share, yielding approximately 5.4%. The stock's recent struggles were compounded by a major fire at a distribution center and a mid-September profit warning linked to product launch delays.
