Rockland Trust Co. Lowers Stock Holdings in Unilever PLC $UL

Key Points

• Rockland Trust Co. has reduced its stake in Unilever PLC by 3.8%, selling 6,371 shares which brings its total holdings to 162,229 shares valued at approximately $9.92 million.
• Unilever has announced an increase in its quarterly dividend to $0.5175 per share, representing a 3.4% dividend yield based on an annualized rate of $2.07.
• Wall Street analysts have mostly favorable views on Unilever, with a consensus rating of "Moderate Buy"* and a target price set at $73.00.

Rockland Trust Co. reduced its position in Unilever PLC (NYSE:UL - Free Report) by 3.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 162,229 shares of the company's stock after selling 6,371 shares during the period. Rockland Trust Co.'s holdings in Unilever were worth $9,924,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new position in shares of Unilever in the 1st quarter valued at $30,000. Vermillion Wealth Management Inc. acquired a new position in shares of Unilever in the 4th quarter valued at $30,000. Brentview Investment Management LLC acquired a new position in shares of Unilever during the 1st quarter valued at $33,000. Richardson Financial Services Inc. lifted its holdings in shares of Unilever by 209.0% during the 1st quarter. Richardson Financial Services Inc. now owns 618 shares of the company's stock valued at $37,000 after acquiring an additional 418 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Unilever during the 1st quarter valued at $63,000. Institutional investors and hedge funds own 9.67% of the company's stock.

Unilever Trading Down 1.5%

NYSE UL opened at $61.47 on Friday. Unilever PLC has a 52 week low of $54.32 and a 52 week high of $65.87. The stock has a market cap of $150.81 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 3.75 and a beta of 0.40. The company has a 50-day moving average price of $61.62 and a two-hundred day moving average price of $61.53.

Unilever Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 15th were given a $0.5175 dividend. This is a positive change from Unilever's previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 15th. This represents a $2.07 annualized dividend and a yield of 3.4%. Unilever's payout ratio is currently 59.31%.

Wall Street Analysts Forecast Growth

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

Unilever Company 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.

Want to see what other hedge funds are holding UL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unilever PLC (NYSE:UL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.