Eastern Bank Raises Stock Position in Unilever PLC $UL

Key Points

• Eastern Bank increased its stake in Unilever PLC by 113.0% during the second quarter, now holding 78,110 shares valued at $4.78 million.
• Unilever recently raised its quarterly dividend to $0.5175, resulting in a 3.4% yield and an annualized payout of $2.07.
• Wall Street analysts show a mixed outlook, with Unilever receiving a consensus rating of "Moderate Buy" and an average price target of $73.00.

Eastern Bank lifted its stake in shares of Unilever PLC (NYSE:UL - Free Report) by 113.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,110 shares of the company's stock after buying an additional 41,434 shares during the quarter. Eastern Bank's holdings in Unilever were worth $4,778,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Unilever by 13.9% during the 1st quarter. Wellington Management Group LLP now owns 28,100,442 shares of the company's stock worth $1,673,381,000 after buying an additional 3,421,054 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Unilever by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,925,891 shares of the company's stock worth $233,787,000 after buying an additional 95,359 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Unilever by 7.1% during the 1st quarter. Raymond James Financial Inc. now owns 3,340,231 shares of the company's stock worth $198,911,000 after buying an additional 221,958 shares during the last quarter. Hamlin Capital Management LLC lifted its position in shares of Unilever by 6.8% during the 1st quarter. Hamlin Capital Management LLC now owns 3,070,860 shares of the company's stock worth $182,870,000 after buying an additional 195,931 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Unilever by 4.3% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 9.67% of the company's stock.

Unilever Stock Performance

Shares of UL opened at $60.47 on Friday. The stock has a market capitalization of $148.36 billion, a P/E ratio of 17.33, a P/E/G ratio of 4.42 and a beta of 0.40. The company's fifty day moving average is $61.44 and its two-hundred day moving average is $61.60. Unilever PLC has a 1 year low of $54.32 and a 1 year high of $65.66.

Unilever Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 15th were paid a $0.5175 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.07 annualized dividend and a yield of 3.4%. This is an increase from Unilever's previous quarterly dividend of $0.52. Unilever's dividend payout ratio is presently 59.31%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UL. Jefferies Financial Group reiterated an "underperform" rating on shares of Unilever in a research report on Sunday, August 3rd. CICC Research began coverage on shares of Unilever in a research report on Thursday, August 21st. They issued an "outperform" rating for the company. Zacks Research upgraded shares of Unilever from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 17th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Unilever in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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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