Levin Capital Strategies L.P. Lowers Position in Unilever PLC (NYSE:UL)

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. lowered its stake in shares of Unilever PLC (NYSE:UL - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,043 shares of the company's stock after selling 21,040 shares during the period. Unilever comprises 1.5% of Levin Capital Strategies L.P.'s portfolio, making the stock its 24th largest holding. Levin Capital Strategies L.P.'s holdings in Unilever were worth $13,759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UL. Bank of America Corp DE grew its holdings in shares of Unilever by 3.4% in the 4th quarter. Bank of America Corp DE now owns 7,906,824 shares of the company's stock worth $448,317,000 after acquiring an additional 257,538 shares during the period. Dimensional Fund Advisors LP grew its holdings in Unilever by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,103,075 shares of the company's stock valued at $289,345,000 after purchasing an additional 250,053 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings 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 purchasing an additional 95,359 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Unilever by 0.5% during the 4th quarter. Royal Bank of Canada now owns 2,926,892 shares of the company's stock worth $165,955,000 after buying an additional 14,083 shares during the last quarter. Finally, Northern Trust Corp raised 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 worth $122,838,000 after buying an additional 742,260 shares during the last quarter. 9.67% of the stock is currently owned by institutional investors and hedge funds.

Unilever Price Performance

UL traded up $0.53 during trading on Thursday, hitting $61.34. The company's stock had a trading volume of 2,981,975 shares, compared to its average volume of 2,336,063. Unilever PLC has a twelve month low of $54.32 and a twelve month high of $65.87. The stock has a market cap of $150.50 billion, a PE ratio of 17.58, a PEG ratio of 3.87 and a beta of 0.38. The firm's 50 day moving average price is $61.33 and its 200-day moving average price is $60.36.

Unilever Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 15th will be given a dividend of $0.5175 per share. This represents a $2.07 annualized dividend and a 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 (DPR) is currently 59.03%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research report on Sunday. BNP Paribas Exane began coverage on Unilever in a research note 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. Wall Street Zen downgraded Unilever from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, UBS Group raised Unilever from a "strong sell" rating to a "hold" rating in a research note on Friday, May 2nd. Two 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.