1832 Asset Management L.P. Sells 6,639 Shares of Unilever PLC $UL

Key Points

• 1832 Asset Management L.P. reduced its holdings in Unilever PLC by 20.7%, selling 6,639 shares and retaining a total of 25,362 shares valued at $1.51 million.
• Unilever recently announced a quarterly dividend of $0.5175 per share, a slight increase from its previous dividend, representing an annual yield of 3.3%.
• Analysts have varying ratings on Unilever, with two analysts issuing a Strong Buy rating, while the overall consensus maintains a "Moderate Buy" with a target price of $73.00.

1832 Asset Management L.P. lessened its holdings in Unilever PLC (NYSE:UL - Free Report) by 20.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,362 shares of the company's stock after selling 6,639 shares during the quarter. 1832 Asset Management L.P.'s holdings in Unilever were worth $1,510,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of Unilever by 13.9% in the first quarter. Wellington Management Group LLP now owns 28,100,442 shares of the company's stock valued at $1,673,381,000 after acquiring an additional 3,421,054 shares during the period. Bank of America Corp DE boosted its position in shares of Unilever by 3.4% in the fourth quarter. Bank of America Corp DE now owns 7,906,824 shares of the company's stock valued at $448,317,000 after acquiring an additional 257,538 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Unilever by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,925,891 shares of the company's stock valued at $233,787,000 after acquiring an additional 95,359 shares during the period. Raymond James Financial Inc. boosted its position in shares of Unilever by 7.1% in the first quarter. Raymond James Financial Inc. now owns 3,340,231 shares of the company's stock valued at $198,911,000 after acquiring an additional 221,958 shares during the period. Finally, Hamlin Capital Management LLC boosted its position in shares of Unilever by 6.8% in the first quarter. Hamlin Capital Management LLC now owns 3,070,860 shares of the company's stock valued at $182,870,000 after acquiring an additional 195,931 shares during the period. Institutional investors own 9.67% of the company's stock.

Unilever Trading Down 1.5%

Shares of NYSE UL opened at $62.09 on Tuesday. The company has a market cap of $152.35 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 3.90 and a beta of 0.38. Unilever PLC has a 12 month low of $54.32 and a 12 month high of $65.87. The stock has a 50-day moving average price of $61.06 and a two-hundred day moving average price of $60.77.

Unilever Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.5175 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Unilever's previous quarterly dividend of $0.52. This represents a $2.07 annualized dividend and a yield of 3.3%. Unilever's payout ratio is presently 59.31%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on UL shares. BNP Paribas Exane started coverage on shares of Unilever in a research report on Thursday, May 29th. They issued an "outperform" rating and a $73.00 target price for the company. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Unilever in a research note on Sunday, August 3rd. UBS Group raised Unilever from a "strong sell" rating to a "hold" rating in a research note on Friday, May 2nd. BNP Paribas raised Unilever to a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Wall Street Zen downgraded Unilever from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

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.

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