M&T Bank Corp Has $35.70 Million Stock Position in Unilever PLC $UL

Key Points

• M&T Bank Corp reduced its stake in Unilever by 7.3% to 545,813 shares, a holding valued at about $35.70 million per its latest 13F filing.
• Unilever missed quarterly expectations, reporting $0.75 EPS versus $1.75 expected and revenue of $11.87 billion versus $31.39 billion estimated, a substantial shortfall.
• The company declared a quarterly dividend of $0.5449 per share (annualized $2.18, ~3.7% yield); shares opened at $58.68 (down 1.8%) and analysts’ consensus rating is “Hold” with a $65.55 target.

M&T Bank Corp cut its stake in shares of Unilever PLC (NYSE:UL - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 545,813 shares of the company's stock after selling 42,844 shares during the period. M&T Bank Corp's holdings in Unilever were worth $35,696,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Natixis Advisors LLC lifted its position in Unilever by 3.1% during the third quarter. Natixis Advisors LLC now owns 1,247,467 shares of the company's stock valued at $73,950,000 after buying an additional 37,630 shares during the period. Evergreen Capital Management LLC grew its position in shares of Unilever by 160.8% in the 4th quarter. Evergreen Capital Management LLC now owns 82,192 shares of the company's stock worth $5,375,000 after buying an additional 50,682 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Unilever by 37.3% in the 4th quarter. DAVENPORT & Co LLC now owns 78,400 shares of the company's stock worth $5,127,000 after acquiring an additional 21,313 shares in the last quarter. Cullen Investment Group LTD. bought a new position in shares of Unilever in the 4th quarter worth about $5,003,000. Finally, HF Advisory Group LLC lifted its position in Unilever by 1,135.3% during the 4th quarter. HF Advisory Group LLC now owns 388,355 shares of the company's stock valued at $25,398,000 after acquiring an additional 356,918 shares during the period. 9.67% of the stock is currently owned by institutional investors.

Unilever Stock Down 1.8%

Shares of UL opened at $58.68 on Tuesday. Unilever PLC has a one year low of $54.95 and a one year high of $74.97. The business has a fifty day moving average of $62.20 and a 200 day moving average of $65.65.

Unilever (NYSE:UL - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.00). The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $31.39 billion. On average, research analysts predict that Unilever PLC will post 3.69 EPS for the current year.

Unilever Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be given a dividend of $0.5449 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.7%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UL. BNP Paribas Exane set a $71.00 price objective on shares of Unilever and gave the stock a "neutral" rating in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lowered shares of Unilever from a "buy" rating to a "hold" rating in a report on Monday, February 9th. Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research note on Monday, February 23rd. DZ Bank raised Unilever from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 8th. Finally, Kepler Capital Markets cut Unilever from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.55.

About Unilever

Unilever PLC is a global consumer goods company with roots dating back to the early 20th century, formed from the merger of the British firm Lever Brothers and the Dutch company Margarine Unie. The company develops, manufactures and markets a broad portfolio of branded products in personal care, home care and foods and refreshments. Unilever's corporate structure and listings reflect its long history in both the United Kingdom and the Netherlands, and it operates at scale across diverse consumer markets worldwide.

Unilever's business is organized around major product categories—Beauty & Personal Care, Home Care and Foods & Refreshment—and includes numerous well-known consumer brands across those categories.

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