Unilever (NYSE:UL) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Unilever (NYSE:UL) from a buy rating to a hold rating in a report released on Tuesday.

UL has been the topic of several other research reports. Bank of America raised shares of Unilever from an “underperform” rating to a “buy” rating and increased their target price for the company from $47.00 to $72.00 in a report on Thursday, August 22nd. UBS Group raised Unilever to a “strong sell” rating in a research note on Tuesday, July 30th. Finally, TD Cowen assumed coverage on Unilever in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.75.

Unilever Trading Down 1.2 %

Shares of NYSE UL opened at $57.56 on Tuesday. Unilever has a one year low of $46.46 and a one year high of $65.87. The firm’s 50 day simple moving average is $63.21 and its two-hundred day simple moving average is $59.29.

Unilever Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.4755 per share. This is a positive change from Unilever’s previous quarterly dividend of $0.35. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, November 8th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Empowered Funds LLC bought a new position in Unilever in the 1st quarter worth $684,000. Avantax Advisory Services Inc. raised its stake in Unilever by 1.9% in the first quarter. Avantax Advisory Services Inc. now owns 78,584 shares of the company’s stock worth $3,944,000 after buying an additional 1,495 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Unilever by 8.3% in the first quarter. Bleakley Financial Group LLC now owns 43,963 shares of the company’s stock worth $2,207,000 after buying an additional 3,381 shares during the period. Dearborn Partners LLC boosted its position in Unilever by 4.2% during the 1st quarter. Dearborn Partners LLC now owns 13,377 shares of the company’s stock valued at $671,000 after acquiring an additional 541 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Unilever by 11.8% during the 1st quarter. First Eagle Investment Management LLC now owns 475,174 shares of the company’s stock worth $23,849,000 after acquiring an additional 50,052 shares during the period. Hedge funds and other institutional investors own 9.67% of the company’s stock.

About Unilever

Unilever PLC operates as a fast-moving consumer goods company in the Asia Pacific, Africa, the Americas, and Europe. It operates through five segments: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. The Beauty & Wellbeing segment engages in the sale of hair care products, such as shampoo, conditioner, and styling; skin care products including face, hand, and body moisturizer; and prestige beauty and health & wellbeing products consist of the vitamins, minerals, and supplements.