Unilever (NYSE:UL) Shares Gap Up – Here’s Why

Unilever PLC (NYSE:UL)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $57.71, but opened at $58.89. Unilever shares last traded at $58.93, with a volume of 602,560 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on UL shares. Sanford C. Bernstein upgraded shares of Unilever from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 9th. Royal Bank of Canada cut shares of Unilever from a “sector perform” rating to an “underperform” rating in a research note on Monday, January 6th. DZ Bank upgraded shares of Unilever from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. StockNews.com lowered shares of Unilever from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Unilever in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Unilever currently has an average rating of “Moderate Buy” and an average target price of $66.33.

Unilever Price Performance

The firm has a market capitalization of $145.07 billion, a PE ratio of 16.74, a P/E/G ratio of 1.60 and a beta of 0.47. The company has a 50-day moving average price of $56.60 and a 200-day moving average price of $59.90.

Unilever Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4674 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 3.20%. Unilever’s dividend payout ratio (DPR) is presently 53.01%.

Institutional Investors Weigh In On Unilever

Hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new position in Unilever in the fourth quarter valued at $26,000. Financial Life Planners acquired a new position in shares of Unilever in the 4th quarter valued at about $28,000. VSM Wealth Advisory LLC acquired a new position in shares of Unilever in the 4th quarter valued at about $28,000. Roxbury Financial LLC purchased a new stake in shares of Unilever during the 4th quarter worth about $30,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Unilever during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 9.67% of the company’s stock.

Unilever Company Profile

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.