Ethic Inc. Sells 4,234 Shares of Unilever PLC (NYSE:UL)

Key Points

• Ethic Inc. reduced its Unilever holdings by 3.8%, selling 4,234 shares and leaving it with 107,420 shares valued at $6.4 million.
• Unilever's stock currently holds a consensus rating of "Moderate Buy" with an average price target of $72.50, reflecting mixed analyst sentiments.
• The company recently announced an increase in its quarterly dividend to $0.5175 per share, representing a yield of 3.4%.

Ethic Inc. cut its holdings in shares of Unilever PLC (NYSE:UL - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,420 shares of the company's stock after selling 4,234 shares during the period. Ethic Inc.'s holdings in Unilever were worth $6,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new stake in Unilever in the 1st quarter worth about $30,000. Vermillion Wealth Management Inc. bought a new stake in Unilever in the 4th quarter worth about $30,000. Brentview Investment Management LLC bought a new stake in Unilever in the 1st quarter worth about $33,000. Richardson Financial Services Inc. grew its position in Unilever by 209.0% in the 1st quarter. Richardson Financial Services Inc. now owns 618 shares of the company's stock worth $37,000 after purchasing an additional 418 shares in the last quarter. Finally, Accredited Wealth Management LLC bought a new stake in Unilever in the 4th quarter worth about $43,000. 9.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Unilever from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Unilever in a research report on Sunday, August 3rd. BNP Paribas raised shares of Unilever to a "strong-buy" rating in a research report on Thursday, May 29th. BNP Paribas Exane started coverage on shares of Unilever in a research report on Thursday, May 29th. They issued an "outperform" rating and a $73.00 price objective for the company. Finally, UBS Group raised shares of Unilever from a "strong sell" rating to a "hold" rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.50.

Unilever Stock Down 1.1%

Unilever stock opened at $60.98 on Friday. Unilever PLC has a twelve month low of $54.32 and a twelve month high of $65.87. The firm has a 50 day moving average price of $61.11 and a 200-day moving average price of $60.54. The company has a market capitalization of $149.62 billion, a P/E ratio of 17.47, a P/E/G ratio of 3.81 and a beta of 0.38.

Unilever Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be given a dividend of $0.5175 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.07 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Unilever's previous quarterly dividend of $0.52. Unilever's payout ratio is currently 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.

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