Unilever PLC (NYSE:UL) Shares Sold by Levin Capital Strategies L.P.

Key Points

• Levin Capital Strategies L.P. has reduced its holdings in Unilever PLC by 8.3%, selling 21,040 shares and now owning 231,043 shares, which is valued at approximately $13.76 million.
• Unilever announced a quarterly dividend of $0.5175 per share, up from its previous dividend, with a payout ratio of 59.03% and a yield of 3.4%.
• Several analysts have upgraded their ratings on Unilever, with BNP Paribas setting a price target of $73.00 and the overall consensus rating currently being "Moderate Buy."

Levin Capital Strategies L.P. trimmed its position in shares of Unilever PLC (NYSE:UL - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,043 shares of the company's stock after selling 21,040 shares during the period. Unilever makes up about 1.5% of Levin Capital Strategies L.P.'s holdings, making the stock its 24th largest holding. Levin Capital Strategies L.P.'s holdings in Unilever were worth $13,759,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in UL. Bank of New York Mellon Corp increased its position in shares of Unilever by 33.2% during the first quarter. Bank of New York Mellon Corp now owns 934,804 shares of the company's stock worth $55,668,000 after acquiring an additional 232,945 shares during the period. Stonegate Investment Group LLC increased its position in shares of Unilever by 69.7% during the first quarter. Stonegate Investment Group LLC now owns 14,282 shares of the company's stock worth $850,000 after acquiring an additional 5,867 shares during the period. Banco Santander S.A. increased its position in shares of Unilever by 70.6% during the first quarter. Banco Santander S.A. now owns 15,030 shares of the company's stock worth $895,000 after acquiring an additional 6,220 shares during the period. Argent Trust Co increased its position in shares of Unilever by 34.2% during the fourth quarter. Argent Trust Co now owns 45,387 shares of the company's stock worth $2,573,000 after acquiring an additional 11,555 shares during the period. Finally, Value Partners Investments Inc. increased its position in shares of Unilever by 56.7% during the first quarter. Value Partners Investments Inc. now owns 13,958 shares of the company's stock worth $832,000 after acquiring an additional 5,051 shares during the period. 9.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UL has been the topic of several recent analyst reports. Wall Street Zen lowered Unilever from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. BNP Paribas Exane initiated coverage on Unilever in a report on Thursday, May 29th. They issued an "outperform" rating and a $73.00 target price on the stock. BNP Paribas raised Unilever to a "strong-buy" rating in a report on Thursday, May 29th. UBS Group upgraded shares of Unilever from a "strong sell" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research note on Sunday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $72.50.

Unilever Trading Down 0.4%

Shares of UL traded down $0.27 during mid-day trading on Friday, hitting $61.05. 2,120,505 shares of the company's stock were exchanged, compared to its average volume of 2,386,603. Unilever PLC has a fifty-two week low of $54.32 and a fifty-two week high of $65.87. The firm has a market capitalization of $149.79 billion, a P/E ratio of 17.49, a P/E/G ratio of 3.80 and a beta of 0.38. The business's 50 day moving average is $61.28 and its two-hundred day moving average is $60.39.

Unilever Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.5175 per share. This represents a $2.07 annualized dividend and a dividend yield of 3.4%. This is a positive change from Unilever's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 15th. Unilever's payout ratio is currently 59.03%.

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.