JPMorgan Chase & Co. Cuts Holdings in Universal Corporation $UVV

Key Points

• JPMorgan Chase & Co. cut its stake in Universal by 54.8% in Q3, selling 53,762 shares and now holding 44,376 shares worth about $2.48M (roughly 0.18% of the company).
• Universal missed quarterly results, reporting EPS of $1.35 vs. consensus $1.92 and revenue of $861.3M vs. $927.2M, and several analysts have recently downgraded the stock to an average rating of Reduce.
• Universal declared a quarterly dividend of $0.82 per share (annualized $3.28), implying a 6.2% yield but a high payout ratio of 96.76%.

JPMorgan Chase & Co. lowered its position in Universal Corporation (NYSE:UVV - Free Report) by 54.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,376 shares of the company's stock after selling 53,762 shares during the period. JPMorgan Chase & Co. owned about 0.18% of Universal worth $2,479,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. increased its stake in shares of Universal by 5.1% in the 2nd quarter. Baird Financial Group Inc. now owns 4,152 shares of the company's stock valued at $242,000 after purchasing an additional 200 shares in the last quarter. CoreCap Advisors LLC boosted its position in Universal by 1.0% during the third quarter. CoreCap Advisors LLC now owns 22,326 shares of the company's stock worth $1,247,000 after purchasing an additional 217 shares in the last quarter. Amalgamated Bank boosted its position in Universal by 3.3% during the third quarter. Amalgamated Bank now owns 7,268 shares of the company's stock worth $406,000 after purchasing an additional 230 shares in the last quarter. Ballentine Partners LLC grew its holdings in Universal by 5.9% in the third quarter. Ballentine Partners LLC now owns 4,633 shares of the company's stock valued at $259,000 after purchasing an additional 258 shares during the period. Finally, SBI Securities Co. Ltd. grew its holdings in Universal by 14.0% in the third quarter. SBI Securities Co. Ltd. now owns 2,123 shares of the company's stock valued at $119,000 after purchasing an additional 261 shares during the period. 81.00% of the stock is owned by hedge funds and other institutional investors.

Universal Price Performance

Shares of Universal stock opened at $52.60 on Monday. The business has a 50 day simple moving average of $53.62 and a two-hundred day simple moving average of $53.55. Universal Corporation has a 12 month low of $49.96 and a 12 month high of $67.33. The stock has a market capitalization of $1.31 billion, a P/E ratio of 15.52, a PEG ratio of 2.99 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.91 and a quick ratio of 1.30.

Universal (NYSE:UVV - Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.92 by ($0.57). Universal had a return on equity of 6.49% and a net margin of 2.93%.The firm had revenue of $861.29 million during the quarter, compared to analyst estimates of $927.20 million.

Universal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 6.2%. Universal's dividend payout ratio is presently 96.76%.

Analyst Ratings Changes

Several research analysts have recently weighed in on UVV shares. Zacks Research downgraded Universal from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 12th. Weiss Ratings lowered shares of Universal from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, March 23rd. Finally, Wall Street Zen cut shares of Universal from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce".

Universal Profile

Universal Corporation NYSE: UVV is a global agribusiness company primarily engaged in the procurement, processing and sale of leaf tobacco. Headquartered in Richmond, Virginia, the company sources cured leaf tobacco from key growing regions in North and South America, Africa and Asia. Universal serves major multinational tobacco manufacturers by providing a full range of services including inventory management, quality control and logistics support to ensure a consistent and reliable supply of tobacco leaf.

In addition to its core leaf tobacco operations, Universal offers integrated supply-chain services that encompass warehousing, distribution and ingredient sourcing for smokeless and novel tobacco products.

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