Connor Clark & Lunn Investment Management Ltd. Sells 199,702 Shares of Unilever PLC $UL

Key Points

• Connor Clark & Lunn Investment Management Ltd. drastically reduced its stake in Unilever PLC by 97.9%, selling 199,702 shares and leaving it with only 4,201 shares valued at approximately $250,000.
• Unilever recently announced an increase in its quarterly dividend to $0.5175, translating to an annual yield of 3.3%, with the ex-dividend date set for August 15th.
• Research firms have varied ratings on Unilever, with BNP Paribas upgrading it to a "strong-buy" and others maintaining a consensus rating of "Moderate Buy" with a price target of $72.50.

Connor Clark & Lunn Investment Management Ltd. lowered its position in Unilever PLC (NYSE:UL - Free Report) by 97.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,201 shares of the company's stock after selling 199,702 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Unilever were worth $250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. lifted its holdings in Unilever by 592.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,070,818 shares of the company's stock worth $60,715,000 after buying an additional 916,246 shares during the period. GAMMA Investing LLC lifted its holdings in Unilever by 7,286.5% during the first quarter. GAMMA Investing LLC now owns 781,713 shares of the company's stock worth $46,551,000 after buying an additional 771,130 shares during the period. Northern Trust Corp lifted its holdings in Unilever by 52.1% during the fourth quarter. Northern Trust Corp now owns 2,166,456 shares of the company's stock worth $122,838,000 after buying an additional 742,260 shares during the period. Factory Mutual Insurance Co. purchased a new stake in Unilever during the first quarter worth $34,533,000. Finally, Cerity Partners LLC lifted its holdings in Unilever by 220.9% during the first quarter. Cerity Partners LLC now owns 626,102 shares of the company's stock worth $37,284,000 after buying an additional 431,005 shares during the period. Institutional investors own 9.67% of the company's stock.

Unilever Trading Up 2.4%

Shares of UL stock opened at $63.4850 on Thursday. The business's fifty day simple moving average is $61.07 and its 200-day simple moving average is $60.63. The company has a market cap of $155.77 billion, a PE ratio of 18.19, a PEG ratio of 3.83 and a beta of 0.38. 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. Investors of record on Friday, August 15th will be given a $0.5175 dividend. This represents a $2.07 annualized dividend and a dividend yield of 3.3%. 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. Unilever's payout ratio is currently 59.31%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UL. UBS Group upgraded Unilever from a "strong sell" rating to a "hold" rating in a report on Friday, May 2nd. BNP Paribas upgraded Unilever to a "strong-buy" rating in a report on Thursday, May 29th. Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a report on Sunday, August 3rd. Wall Street Zen lowered Unilever from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, BNP Paribas Exane initiated coverage on Unilever in a research report on Thursday, May 29th. They set an "outperform" rating and a $73.00 price target on the stock. Two research 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 assigned a Sell rating to the stock. According to MarketBeat, Unilever currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.

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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