Oppenheimer Asset Management Inc. Has $36.30 Million Stake in Unilever PLC $UL

Key Points

• Oppenheimer Asset Management trimmed its stake in Unilever by 12.9% in Q4, selling 82,211 shares and leaving it with 555,108 shares worth $36.30 million.
• Unilever posted a large quarterly earnings miss — EPS $0.75 vs. $1.75 expected and revenue $11.87 billion vs. $31.39 billion consensus — and has a MarketBeat consensus rating of "Hold" with an average price target of $65.55.
• The company recently paid a quarterly dividend of $0.5547 (annualized $2.22, a 3.8% yield), and the article notes that Unilever has cut its dividend.

Oppenheimer Asset Management Inc. trimmed its holdings in Unilever PLC (NYSE:UL - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 555,108 shares of the company's stock after selling 82,211 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Unilever were worth $36,304,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Palisade Asset Management LLC acquired a new stake in Unilever during the 3rd quarter worth approximately $25,000. Global Wealth Strategies & Associates acquired a new stake in Unilever during the 4th quarter worth approximately $29,000. Asset Dedication LLC lifted its holdings in Unilever by 108.8% during the 3rd quarter. Asset Dedication LLC now owns 476 shares of the company's stock worth $28,000 after purchasing an additional 248 shares during the last quarter. Financial Life Planners acquired a new stake in Unilever during the 3rd quarter worth approximately $30,000. Finally, FNY Investment Advisers LLC acquired a new stake in Unilever during the 3rd quarter worth approximately $29,000. 9.67% of the stock is owned by institutional investors and hedge funds.

Unilever Trading Up 3.8%

Shares of UL opened at $59.03 on Friday. Unilever PLC has a 52-week low of $54.95 and a 52-week high of $74.97. The business's fifty day moving average is $62.20 and its 200-day moving average is $65.69.

Unilever (NYSE:UL - Get Free Report) last issued its quarterly 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 firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $31.39 billion. Research analysts forecast that Unilever PLC will post 3.68 earnings per share for the current year.

Unilever Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, February 27th were issued a dividend of $0.5547 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.22 annualized dividend and a dividend yield of 3.8%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Weiss Ratings lowered Unilever from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, March 31st. Kepler Capital Markets lowered Unilever from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. BNP Paribas Exane set a $71.00 price target on Unilever and gave the company a "neutral" rating in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lowered Unilever from a "buy" rating to a "hold" rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada upgraded Unilever from an "underperform" rating to a "sector perform" rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $65.55.

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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