New England Asset Management Inc. Purchases 22,440 Shares of Unilever PLC $UL

Key Points

• New England Asset Management Inc. increased its stake in Unilever PLC by 25.3%, owning a total of 111,180 shares valued at $6.6 million.
• Unilever recently announced a quarterly dividend of $0.5175 per share, slightly up from the previous $0.52, representing a 3.2% dividend yield.
• The stock has a current consensus rating of "Moderate Buy" with a price target of $73.00 among investment analysts.

New England Asset Management Inc. boosted its position in shares of Unilever PLC (NYSE:UL - Free Report) by 25.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 111,180 shares of the company's stock after purchasing an additional 22,440 shares during the quarter. Unilever comprises about 1.1% of New England Asset Management Inc.'s holdings, making the stock its 28th biggest holding. New England Asset Management Inc.'s holdings in Unilever were worth $6,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Unilever by 33.2% in the 1st 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 last quarter. Stonegate Investment Group LLC increased its holdings in Unilever by 69.7% in the 1st quarter. Stonegate Investment Group LLC now owns 14,282 shares of the company's stock worth $850,000 after buying an additional 5,867 shares in the last quarter. Wellington Management Group LLP lifted its stake in Unilever by 13.9% during the 1st quarter. Wellington Management Group LLP now owns 28,100,442 shares of the company's stock valued at $1,673,381,000 after acquiring an additional 3,421,054 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Unilever by 65.1% in the first quarter. Russell Investments Group Ltd. now owns 232,096 shares of the company's stock worth $13,821,000 after acquiring an additional 91,511 shares during the period. Finally, Banco Santander S.A. raised its holdings 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 valued at $895,000 after purchasing an additional 6,220 shares during the last quarter. Institutional investors own 9.67% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on UL shares. BNP Paribas Exane began coverage on Unilever in a report on Thursday, May 29th. They set an "outperform" rating and a $73.00 price target on the stock. CICC Research started coverage on Unilever in a report on Thursday, August 21st. They issued an "outperform" rating on the stock. Jefferies Financial Group reissued an "underperform" rating on shares of Unilever in a research report on Sunday, August 3rd. Finally, BNP Paribas upgraded shares of Unilever to a "strong-buy" rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Unilever Price Performance

Shares of Unilever stock traded down $0.88 during trading on Tuesday, hitting $63.12. The stock had a trading volume of 2,131,184 shares, compared to its average volume of 2,137,120. The firm's fifty day simple moving average is $61.42 and its 200-day simple moving average is $61.27. Unilever PLC has a 12 month low of $54.32 and a 12 month high of $65.87. The stock has a market cap of $154.87 billion, a PE ratio of 18.09, a PEG ratio of 3.96 and a beta of 0.40.

Unilever Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.5175 per share. This represents a $2.07 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 15th. This is a positive change from Unilever's previous quarterly dividend of $0.52. Unilever's dividend payout ratio (DPR) is currently 59.31%.

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.