Unilever (NYSE:UL) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Unilever (NYSE:UL) from a hold rating to a buy rating in a research report report published on Friday.

A number of other analysts also recently weighed in on the company. TD Cowen assumed coverage on Unilever in a research report on Tuesday, July 23rd. They issued a buy rating and a $67.00 target price for the company. Redburn Atlantic raised Unilever from a neutral rating to a buy rating in a research note on Friday, June 7th. UBS Group raised Unilever to a strong sell rating in a research note on Tuesday, July 30th. Finally, Bank of America raised Unilever from an underperform rating to a buy rating and lifted their price target for the stock from $47.00 to $72.00 in a research note on Thursday, August 22nd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Unilever presently has an average rating of Hold and a consensus price target of $61.75.

Unilever Stock Performance

NYSE:UL opened at $62.84 on Friday. The business has a 50 day moving average of $63.39 and a 200 day moving average of $56.87. Unilever has a 1-year low of $46.16 and a 1-year high of $65.87.

Unilever Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 9th were paid a dividend of $0.4773 per share. The ex-dividend date was Friday, August 9th. This is a boost from Unilever’s previous quarterly dividend of $0.46. This represents a $1.91 annualized dividend and a dividend yield of 3.04%.

Hedge Funds Weigh In On Unilever

Several hedge funds have recently made changes to their positions in UL. Fiera Capital Corp increased its stake in shares of Unilever by 1,866.0% during the second quarter. Fiera Capital Corp now owns 2,135,859 shares of the company’s stock valued at $117,451,000 after buying an additional 2,027,221 shares during the period. Equity Investment Corp grew its stake in Unilever by 107.1% in the first quarter. Equity Investment Corp now owns 2,910,751 shares of the company’s stock worth $146,091,000 after purchasing an additional 1,505,233 shares during the period. Bank of Montreal Can grew its stake in Unilever by 249.5% in the second quarter. Bank of Montreal Can now owns 1,748,329 shares of the company’s stock worth $98,204,000 after purchasing an additional 1,248,136 shares during the period. Clearbridge Investments LLC grew its stake in Unilever by 598.7% in the second quarter. Clearbridge Investments LLC now owns 1,301,239 shares of the company’s stock worth $71,555,000 after purchasing an additional 1,114,992 shares during the period. Finally, Wellington Management Group LLP grew its stake in Unilever by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 34,494,131 shares of the company’s stock worth $1,672,275,000 after purchasing an additional 1,114,417 shares during the period. 9.67% of the stock is owned by hedge funds and other institutional investors.

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.