Federated Hermes Inc. Reduces Stock Holdings in Unilever PLC (NYSE:UL)

Key Points

• Federated Hermes Inc. reduced its ownership in Unilever PLC by 13.0%, leaving it with 107,023 shares valued at approximately $6.37 million.
• Unilever has seen a shift in analyst ratings, with Wall Street Zen downgrading it to a "hold" while BNP Paribas has upgraded it to a "strong buy" with a price target of $73.00.
• The company announced an increase in its quarterly dividend to $0.5175, reflecting a yield of 3.4% with a payout ratio of 59.03%.

Federated Hermes Inc. decreased its stake in shares of Unilever PLC (NYSE:UL - Free Report) by 13.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 107,023 shares of the company's stock after selling 16,061 shares during the period. Federated Hermes Inc.'s holdings in Unilever were worth $6,373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in UL. Bank of America Corp DE lifted its position in Unilever by 3.4% during the fourth quarter. Bank of America Corp DE now owns 7,906,824 shares of the company's stock valued at $448,317,000 after buying an additional 257,538 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Unilever by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,103,075 shares of the company's stock worth $289,345,000 after purchasing an additional 250,053 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Unilever by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,925,891 shares of the company's stock valued at $233,787,000 after acquiring an additional 95,359 shares in the last quarter. Royal Bank of Canada grew its stake in Unilever by 0.5% in the 4th quarter. Royal Bank of Canada now owns 2,926,892 shares of the company's stock valued at $165,955,000 after acquiring an additional 14,083 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of 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 buying an additional 742,260 shares during the period. 9.67% of the stock is currently owned by institutional investors and hedge funds.

Unilever Stock Performance

Shares of UL traded up $0.45 during trading hours on Thursday, hitting $61.26. 2,317,713 shares of the company were exchanged, compared to its average volume of 2,547,279. The company has a market cap of $150.30 billion, a PE ratio of 17.54, a PEG ratio of 3.82 and a beta of 0.38. The firm's 50 day moving average is $61.38 and its 200-day moving average is $60.32. 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 declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be issued a $0.5175 dividend. This represents a $2.07 annualized dividend and a dividend yield of 3.4%. 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 is currently 59.31%.

Wall Street Analyst Weigh In

Several analysts have commented on UL shares. Wall Street Zen downgraded shares of Unilever from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. BNP Paribas Exane began coverage on shares of Unilever in a research report on Thursday, May 29th. They issued an "outperform" rating and a $73.00 price target 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 raised shares of Unilever to a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Jefferies Financial Group reissued an "underperform" rating on shares of Unilever in a research report on Sunday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Unilever has a consensus rating of "Moderate Buy" and an average price target 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.