Connor Clark & Lunn Investment Management Ltd. Lowers Position in 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. trimmed its holdings in shares of Unilever PLC (NYSE:UL - Free Report) by 97.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,201 shares of the company's stock after selling 199,702 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Unilever were worth $250,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in UL. D. E. Shaw & Co. Inc. boosted its stake in Unilever by 592.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,070,818 shares of the company's stock valued at $60,715,000 after purchasing an additional 916,246 shares during the last quarter. GAMMA Investing LLC boosted its stake in Unilever by 7,286.5% during the 1st quarter. GAMMA Investing LLC now owns 781,713 shares of the company's stock valued at $46,551,000 after purchasing an additional 771,130 shares during the last quarter. Northern Trust Corp boosted its stake in Unilever by 52.1% during the 4th quarter. Northern Trust Corp now owns 2,166,456 shares of the company's stock valued at $122,838,000 after purchasing an additional 742,260 shares during the last quarter. Factory Mutual Insurance Co. purchased a new stake in Unilever during the 1st quarter valued at $34,533,000. Finally, Cerity Partners LLC boosted its stake in Unilever by 220.9% during the 1st quarter. Cerity Partners LLC now owns 626,102 shares of the company's stock valued at $37,284,000 after purchasing an additional 431,005 shares during the last quarter. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. 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 on the stock. UBS Group upgraded Unilever from a "strong sell" rating to a "hold" rating in a research note on Friday, May 2nd. BNP Paribas upgraded Unilever to a "strong-buy" rating in a research note on Thursday, May 29th. Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research note on Sunday, August 3rd. Finally, Wall Street Zen downgraded Unilever from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Unilever Trading Up 0.0%

NYSE UL traded up $0.02 on Tuesday, hitting $62.08. 2,036,352 shares of the company traded hands, compared to its average volume of 2,294,182. The company has a market capitalization of $152.32 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 3.84 and a beta of 0.38. The business's 50 day moving average price is $61.06 and its 200-day moving average price is $60.78. Unilever PLC has a 52-week low of $54.32 and a 52-week high of $65.87.

Unilever Increases Dividend

The business 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 dividend of $0.5175 per share. This represents a $2.07 annualized dividend and a yield of 3.3%. This is a boost from Unilever's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 15th. Unilever's dividend payout ratio (DPR) is presently 59.31%.

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.