CORDA Investment Management LLC. Sells 13,674 Shares of Unilever PLC $UL

Key Points

• CORDA Investment Management LLC has reduced its stake in Unilever PLC by 1.7%, selling 13,674 shares, leaving it with a total of 803,108 shares valued at approximately $49.1 million.
• Unilever recently increased its quarterly dividend to $0.5175 per share, resulting in an annualized dividend of $2.07 and a yield of 3.3%.
• Analysts have mixed ratings on Unilever, with a consensus rating of "Moderate Buy" and an average target price of $73.00.

CORDA Investment Management LLC. cut its holdings in shares of Unilever PLC (NYSE:UL - Free Report) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 803,108 shares of the company's stock after selling 13,674 shares during the period. Unilever comprises about 3.6% of CORDA Investment Management LLC.'s investment portfolio, making the stock its 6th biggest holding. CORDA Investment Management LLC.'s holdings in Unilever were worth $49,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP boosted its holdings in Unilever by 13.9% in the first quarter. Wellington Management Group LLP now owns 28,100,442 shares of the company's stock valued at $1,673,381,000 after purchasing an additional 3,421,054 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Unilever by 2.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,925,891 shares of the company's stock valued at $233,787,000 after purchasing an additional 95,359 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Unilever by 7.1% in the 1st quarter. Raymond James Financial Inc. now owns 3,340,231 shares of the company's stock valued at $198,911,000 after purchasing an additional 221,958 shares in the last quarter. Hamlin Capital Management LLC boosted its stake in shares of Unilever by 0.5% during the 2nd quarter. Hamlin Capital Management LLC now owns 3,085,571 shares of the company's stock valued at $188,744,000 after buying an additional 14,711 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Unilever by 4.3% during the first quarter. Northern Trust Corp now owns 2,260,133 shares of the company's stock worth $134,591,000 after buying an additional 93,677 shares in the last quarter. 9.67% of the stock is owned by hedge funds and other institutional investors.

Unilever Stock Performance

Shares of NYSE:UL opened at $63.18 on Monday. The company's fifty day moving average is $61.51 and its two-hundred day moving average is $61.69. Unilever PLC has a 1-year low of $54.32 and a 1-year high of $65.66. The stock has a market capitalization of $155.03 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 4.75 and a beta of 0.40.

Unilever Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 15th were issued a dividend of $0.5175 per share. This represents a $2.07 annualized dividend and a dividend yield of 3.3%. This is a boost from Unilever's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 15th. Unilever's dividend payout ratio is currently 59.31%.

Analyst Ratings Changes

Several analysts recently issued reports on UL shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Unilever in a report on Wednesday, October 8th. CICC Research initiated coverage on shares of Unilever in a research note on Thursday, August 21st. They issued an "outperform" rating on the stock. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Unilever in a research report on Sunday, August 3rd. Finally, Zacks Research downgraded Unilever from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Unilever currently 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.

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