Unilever PLC (NYSE:UL) Shares Sold by Eastern Bank

Key Points

• Eastern Bank has reduced its holdings in Unilever PLC by 10.4%, owning 36,676 shares after selling 4,268 shares in the first quarter.
• Several hedge funds have recently modified their positions in Unilever, with notable increases from entities like Richardson Financial Services Inc. and new stakes from Vermillion Wealth Management and others.
• Analysts are divided on Unilever's stock, with ratings ranging from a sell to a strong buy, and a consensus rating of "Moderate Buy" with an average price target of $72.50.

Eastern Bank reduced its stake in shares of Unilever PLC (NYSE:UL - Free Report) by 10.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 36,676 shares of the company's stock after selling 4,268 shares during the period. Eastern Bank's holdings in Unilever were worth $2,184,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of UL. N.E.W. Advisory Services LLC purchased a new stake in Unilever during the first quarter worth $30,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Unilever during the 4th quarter worth about $30,000. Richardson Financial Services Inc. grew its position 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 during the period. Accredited Wealth Management LLC acquired a new position in Unilever in the 4th quarter worth about $43,000. Finally, Greenline Partners LLC acquired a new stake in Unilever in the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 9.67% of the company's stock.

Unilever Price Performance

Shares of UL stock traded down $0.51 during trading on Monday, hitting $59.97. 1,052,051 shares of the stock traded hands, compared to its average volume of 2,540,992. Unilever PLC has a 52-week low of $54.32 and a 52-week high of $65.87. The firm has a market capitalization of $147.13 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.84 and a beta of 0.38. The firm's fifty day moving average price is $61.57 and its 200-day moving average price is $60.29.

Unilever Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be paid a $0.5175 dividend. This is a boost from Unilever's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.07 annualized dividend and a dividend yield of 3.5%. Unilever's dividend payout ratio is currently 59.03%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. BNP Paribas Exane started coverage on Unilever in a research report on Thursday, May 29th. They set an "outperform" rating and a $73.00 target price on the stock. BNP Paribas upgraded shares of Unilever to a "strong-buy" rating in a research report on Thursday, May 29th. UBS Group upgraded shares of Unilever from a "strong sell" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen cut Unilever from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $72.50.

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.