Summit Global Investments Sells 46,987 Shares of Unilever PLC (NYSE:UL)

Summit Global Investments lowered its stake in Unilever PLC (NYSE:UL - Free Report) by 77.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,792 shares of the company's stock after selling 46,987 shares during the quarter. Summit Global Investments' holdings in Unilever were worth $821,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new stake in shares of Unilever in the fourth quarter valued at approximately $26,000. Financial Life Planners acquired a new stake in shares of Unilever in the fourth quarter valued at approximately $28,000. VSM Wealth Advisory LLC acquired a new stake in shares of Unilever in the fourth quarter valued at approximately $28,000. Roxbury Financial LLC acquired a new stake in shares of Unilever in the fourth quarter valued at approximately $30,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Unilever in the fourth quarter valued at approximately $30,000. Institutional investors own 9.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on UL shares. BNP Paribas upgraded shares of Unilever to a "strong-buy" rating in a report on Thursday, May 29th. DZ Bank upgraded shares of Unilever from a "hold" rating to a "buy" rating in a report on Friday, February 21st. BNP Paribas Exane assumed coverage on shares of Unilever in a report on Thursday, May 29th. They set an "outperform" rating and a $73.00 target price on the stock. Wall Street Zen downgraded shares of Unilever from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, UBS Group upgraded shares of Unilever from a "strong sell" rating to a "hold" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.67.

Unilever Stock Performance

UL traded up $0.48 during trading on Wednesday, reaching $63.19. 843,655 shares of the stock were exchanged, compared to its average volume of 2,496,183. Unilever PLC has a twelve month low of $54.32 and a twelve month high of $65.87. The stock has a market cap of $155.31 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. The stock's 50 day moving average price is $62.19 and its two-hundred day moving average price is $59.20.

Unilever Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 16th will be given a $0.5151 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from Unilever's previous quarterly dividend of $0.47. Unilever's payout ratio is presently 59.03%.

About Unilever

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.