Unilever PLC (NYSE:UL) Shares Sold by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC reduced its stake in Unilever PLC by 3.8% during the first quarter, selling 6,292 shares to hold 157,217 shares valued at approximately $9.36 million.
• Unilever recently increased its quarterly dividend to $0.5175, a slight rise from the previous $0.52, reflecting a 3.4% dividend yield.
• Analysts' ratings for Unilever vary, with a consensus of “Moderate Buy” and a target price of $72.50, indicating mixed sentiment in the market.

Cary Street Partners Financial LLC reduced its stake in Unilever PLC (NYSE:UL - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,217 shares of the company's stock after selling 6,292 shares during the period. Cary Street Partners Financial LLC's holdings in Unilever were worth $9,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC acquired a new stake in Unilever during the 1st quarter worth $30,000. Vermillion Wealth Management Inc. purchased a new position in shares of Unilever during the fourth quarter worth about $30,000. Brentview Investment Management LLC acquired a new position in Unilever in the 1st quarter valued at about $33,000. Richardson Financial Services Inc. raised its stake 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 acquiring an additional 418 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in Unilever during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 9.67% of the company's stock.

Unilever Price Performance

Shares of UL stock traded up $0.69 during midday trading on Wednesday, reaching $60.82. 2,928,192 shares of the company traded hands, compared to its average volume of 2,271,867. The firm's 50 day simple moving average is $61.43 and its two-hundred day simple moving average is $60.32. The firm has a market cap of $149.24 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 3.82 and a beta of 0.38. Unilever PLC has a 1-year low of $54.32 and a 1-year high of $65.87.

Unilever Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 15th will be issued a $0.5175 dividend. This represents a $2.07 annualized dividend and a dividend yield of 3.4%. This is a boost from Unilever's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 15th. Unilever's payout ratio is currently 59.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on UL shares. Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research note on Sunday. UBS Group upgraded shares of Unilever from a "strong sell" rating to a "hold" rating in a research note on Friday, May 2nd. BNP Paribas upgraded shares of Unilever to a "strong-buy" rating in a research report on Thursday, May 29th. Wall Street Zen lowered Unilever from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, BNP Paribas Exane assumed coverage on Unilever in a research note on Thursday, May 29th. They set an "outperform" rating and a $73.00 target price for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $72.50.

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.