Synovus Financial Corp Acquires 18,004 Shares of Unilever PLC $UL

Key Points

• Synovus Financial Corp increased its stake in Unilever PLC by 88.1%, acquiring an additional 18,004 shares, bringing its total holdings to 38,444 shares valued at approximately $2.29 million.
• A number of analysts have differing ratings on Unilever, with BNP Paribas upgrading the stock to a "strong-buy" and setting a price target of $73.00, while Jefferies maintains an "underperform" rating.
• Unilever has announced a quarterly dividend of $0.5175, an increase from the previous $0.52, yielding about 3.3% with an ex-dividend date on August 15th.

Synovus Financial Corp lifted its stake in Unilever PLC (NYSE:UL - Free Report) by 88.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,444 shares of the company's stock after buying an additional 18,004 shares during the period. Synovus Financial Corp's holdings in Unilever were worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Unilever by 13.9% in 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 in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Unilever by 592.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,070,818 shares of the company's stock worth $60,715,000 after purchasing an additional 916,246 shares during the period. GAMMA Investing LLC increased its position in shares of Unilever by 7,286.5% in the first quarter. GAMMA Investing LLC now owns 781,713 shares of the company's stock worth $46,551,000 after purchasing an additional 771,130 shares during the period. Northern Trust Corp raised its stake in Unilever by 52.1% in the fourth quarter. Northern Trust Corp now owns 2,166,456 shares of the company's stock valued at $122,838,000 after purchasing an additional 742,260 shares in the last quarter. Finally, Factory Mutual Insurance Co. acquired a new position in Unilever in the first quarter valued at about $34,533,000. Institutional investors and hedge funds own 9.67% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reiterated an "underperform" rating on shares of Unilever in a research note on Sunday, August 3rd. CICC Research began coverage on shares of Unilever in a report on Thursday, August 21st. They set an "outperform" rating for the company. BNP Paribas upgraded shares of Unilever to a "strong-buy" rating in a research report on Thursday, May 29th. UBS Group raised shares of Unilever from a "strong sell" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, BNP Paribas Exane started coverage on shares of Unilever in a research report on Thursday, May 29th. They set an "outperform" rating and a $73.00 price objective for the company. Two equities 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Unilever has an average rating of "Moderate Buy" and an average target price of $73.00.

Unilever Trading Down 1.5%

UL opened at $62.09 on Tuesday. The company has a market cap of $152.35 billion, a P/E ratio of 17.79, a PEG ratio of 3.90 and a beta of 0.38. The company's 50 day moving average is $61.06 and its 200-day moving average is $60.77. Unilever PLC has a 1-year low of $54.32 and a 1-year high of $65.87.

Unilever Increases Dividend

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

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.

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