M&T Bank Corp Trims Holdings in Unilever PLC $UL

Key Points

• M&T Bank Corp trimmed its stake in Unilever by 7.2% in Q3, selling 45,609 shares and leaving 588,657 shares valued at about $34.9 million.
• Analyst sentiment has cooled to an average rating of “Hold” with a consensus price target of $65.55, and several firms recently downgraded the stock.
• Unilever missed quarterly expectations (reported $0.75 EPS vs. $1.75 expected and revenue $11.87B vs. $31.39B expected) and declared a quarterly dividend of $0.5547 ($2.22 annualized, ~3.5% yield).

M&T Bank Corp trimmed its holdings in Unilever PLC (NYSE:UL - Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,657 shares of the company's stock after selling 45,609 shares during the quarter. M&T Bank Corp's holdings in Unilever were worth $34,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its stake in shares of Unilever by 141.3% during the third quarter. GPS Wealth Strategies Group LLC now owns 514 shares of the company's stock valued at $30,000 after purchasing an additional 301 shares in the last quarter. Financial Life Planners purchased a new position in shares of Unilever during the third quarter valued at approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Unilever in the 3rd quarter worth approximately $32,000. True Wealth Design LLC grew its stake in shares of Unilever by 548.5% in the 3rd quarter. True Wealth Design LLC now owns 668 shares of the company's stock worth $40,000 after buying an additional 565 shares during the last quarter. Finally, Oakworth Capital Inc. grew its stake in shares of Unilever by 46.3% in the 3rd quarter. Oakworth Capital Inc. now owns 692 shares of the company's stock worth $41,000 after buying an additional 219 shares during the last quarter. Institutional investors own 9.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UL shares. DZ Bank cut Unilever from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. UBS Group reissued a "sell" rating on shares of Unilever in a research note on Wednesday, December 10th. Kepler Capital Markets downgraded Unilever from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. BNP Paribas Exane set a $71.00 price target on Unilever and gave the stock a "neutral" rating in a research report on Thursday, January 8th. Finally, Weiss Ratings cut shares of Unilever from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $65.55.

Unilever Stock Down 0.6%

UL stock opened at $64.01 on Friday. The stock's 50 day simple moving average is $68.56 and its 200 day simple moving average is $68.11. Unilever PLC has a 12-month low of $61.78 and a 12-month high of $74.97.

Unilever (NYSE:UL - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $0.75 EPS for the quarter, missing analysts' consensus estimates 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. As a group, equities research analysts anticipate that Unilever PLC will post 3.27 earnings per share for the current year.

Unilever Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.5547 per share. The ex-dividend date is Friday, February 27th. This represents a $2.22 annualized dividend and a yield of 3.5%.

Unilever Profile

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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