Bank of Nova Scotia Trust Co. Sells 7,050 Shares of Unilever PLC (NYSE:UL)

Key Points

• Bank of Nova Scotia Trust Co. has reduced its stake in Unilever PLC by 33.8%, selling 7,050 shares and now holding 13,825 shares valued at approximately $823,000.
• Unilever has announced a quarterly dividend of $0.5175 per share, which represents a slight increase from the previous dividend and results in an annualized yield of 3.4%.
• Research analysts have provided various ratings for Unilever, with BNP Paribas upgrading the stock to a "strong-buy" and setting a price target of $73.00.

Bank of Nova Scotia Trust Co. reduced its position in Unilever PLC (NYSE:UL - Free Report) by 33.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,825 shares of the company's stock after selling 7,050 shares during the quarter. Bank of Nova Scotia Trust Co.'s holdings in Unilever were worth $823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of Unilever by 3.4% during the fourth quarter. Bank of America Corp DE now owns 7,906,824 shares of the company's stock worth $448,317,000 after buying an additional 257,538 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Unilever by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,103,075 shares of the company's stock valued at $289,345,000 after buying an additional 250,053 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings 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 buying an additional 95,359 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Unilever by 0.5% in the fourth quarter. Royal Bank of Canada now owns 2,926,892 shares of the company's stock valued at $165,955,000 after buying an additional 14,083 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Unilever by 52.1% in the fourth quarter. Northern Trust Corp now owns 2,166,456 shares of the company's stock valued at $122,838,000 after buying an additional 742,260 shares in the last quarter. 9.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UL has been the topic of several research reports. Wall Street Zen cut Unilever from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. BNP Paribas Exane initiated coverage on Unilever in a report on Thursday, May 29th. They issued an "outperform" rating and a $73.00 price target on the stock. UBS Group raised shares of Unilever from a "strong sell" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, BNP Paribas raised shares of Unilever to a "strong-buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.

Unilever Stock Down 0.1%

Shares of Unilever stock traded down $0.08 on Tuesday, hitting $60.09. 601,853 shares of the company traded hands, compared to its average volume of 2,533,263. The company has a 50-day moving average price of $61.50 and a 200 day moving average price of $60.32. Unilever PLC has a 12-month low of $54.32 and a 12-month high of $65.87. The company has a market cap of $147.43 billion, a PE ratio of 17.21, a PEG ratio of 3.84 and a beta of 0.38.

Unilever Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 15th will be issued a $0.5175 dividend. This is a boost from Unilever's previous quarterly dividend of $0.52. This represents a $2.07 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, August 15th. Unilever's dividend payout ratio is currently 59.03%.

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.