Advisors Capital Management LLC Sells 106,334 Shares of Unilever PLC $UL

Key Points

• Advisors Capital Management LLC decreased its stake in Unilever PLC by 14.8%, selling 106,334 shares, and now holds 610,138 shares valued at approximately $36.3 million.
• Wall Street analysts have mixed ratings on Unilever, with a consensus rating of Moderate Buy and a target price of $73.00.
• Unilever announced an increase in its quarterly dividend to $0.5175 per share, with a current dividend yield of 3.3%.

Advisors Capital Management LLC trimmed its stake in Unilever PLC (NYSE:UL - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 610,138 shares of the company's stock after selling 106,334 shares during the period. Advisors Capital Management LLC's holdings in Unilever were worth $36,334,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vermillion Wealth Management Inc. bought a new position in shares of Unilever in the 4th quarter worth $30,000. N.E.W. Advisory Services LLC acquired a new position in Unilever during the 1st quarter valued at about $30,000. Brentview Investment Management LLC acquired a new position in Unilever during the 1st quarter valued at about $33,000. Richardson Financial Services Inc. increased its position in Unilever by 209.0% during the 1st quarter. Richardson Financial Services Inc. now owns 618 shares of the company's stock valued at $37,000 after buying an additional 418 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in Unilever during the 1st quarter valued at about $63,000. 9.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. CICC Research assumed coverage on Unilever in a report on Thursday, August 21st. They issued an "outperform" rating on the stock. BNP Paribas Exane began coverage on Unilever in a report on Thursday, May 29th. They issued an "outperform" rating and a $73.00 price objective on the stock. BNP Paribas upgraded Unilever to a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research note on Sunday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Unilever Trading Down 0.4%

Shares of UL stock opened at $62.81 on Thursday. The company has a market capitalization of $154.10 billion, a P/E ratio of 18.00, a P/E/G ratio of 3.90 and a beta of 0.40. The business's 50 day moving average is $61.49 and its two-hundred day moving average is $61.29. Unilever PLC has a 12-month low of $54.32 and a 12-month high of $65.87.

Unilever Increases Dividend

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

Unilever 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.

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