Clark Capital Management Group Inc. Takes $45.41 Million Position in Unilever PLC $UL

Key Points

• Clark Capital Management Group Inc. has invested approximately $45.41 million in Unilever PLC, acquiring 762,610 shares during the first quarter.
• Unilever has seen a positive trend in analyst ratings, with a consensus target price of $73.00 and a mix of "strong buy," "buy," and "hold" ratings from various firms.
• The company has declared a quarterly dividend of $0.5175 per share, slightly higher than the previous amount, resulting in a 3.2% yield for investors.

Clark Capital Management Group Inc. purchased a new position in Unilever PLC (NYSE:UL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 762,610 shares of the company's stock, valued at approximately $45,413,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of UL. Bank of New York Mellon Corp boosted its stake in shares of Unilever by 33.2% in the 1st quarter. Bank of New York Mellon Corp now owns 934,804 shares of the company's stock valued at $55,668,000 after purchasing an additional 232,945 shares in the last quarter. Stonegate Investment Group LLC raised its holdings in Unilever by 69.7% in the 1st quarter. Stonegate Investment Group LLC now owns 14,282 shares of the company's stock worth $850,000 after purchasing an additional 5,867 shares in the last quarter. Wellington Management Group LLP raised its holdings in Unilever by 13.9% in the 1st quarter. Wellington Management Group LLP now owns 28,100,442 shares of the company's stock worth $1,673,381,000 after purchasing an additional 3,421,054 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Unilever by 65.1% in the 1st quarter. Russell Investments Group Ltd. now owns 232,096 shares of the company's stock worth $13,821,000 after purchasing an additional 91,511 shares in the last quarter. Finally, Banco Santander S.A. increased its stake in shares of Unilever by 70.6% in the 1st quarter. Banco Santander S.A. now owns 15,030 shares of the company's stock worth $895,000 after acquiring an additional 6,220 shares in the last quarter. Hedge funds and other institutional investors own 9.67% of the company's stock.

Unilever Stock Performance

NYSE UL traded down $0.27 on Monday, hitting $64.04. 1,785,732 shares of the stock were exchanged, compared to its average volume of 2,510,586. The stock has a fifty day moving average price of $61.37 and a two-hundred day moving average price of $61.21. The firm has a market capitalization of $157.13 billion, a P/E ratio of 18.35, a P/E/G ratio of 3.98 and a beta of 0.40. Unilever PLC has a 52-week low of $54.32 and a 52-week high of $65.87.

Unilever Increases Dividend

The company also recently disclosed 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 3.2%. Unilever's payout ratio is presently 59.31%.

Analysts Set New Price Targets

UL has been the subject of several analyst reports. BNP Paribas raised shares of Unilever to a "strong-buy" rating in a research report on Thursday, May 29th. CICC Research started coverage on shares of Unilever in a report on Thursday, August 21st. They issued an "outperform" rating on the stock. Jefferies Financial Group reissued an "underperform" rating on shares of Unilever in a report on Sunday, August 3rd. Finally, BNP Paribas Exane initiated coverage on shares of Unilever in a research note on Thursday, May 29th. They set an "outperform" rating and a $73.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Unilever presently has a consensus rating of "Moderate Buy" and an average target price 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.