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 position in Unilever PLC (NYSE:UL - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,676 shares of the company's stock after selling 4,268 shares during the quarter. Eastern Bank's holdings in Unilever were worth $2,184,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Unilever in the 4th quarter worth $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Unilever in the 1st quarter worth $30,000. Richardson Financial Services Inc. increased its stake in shares of Unilever by 209.0% in the 1st quarter. Richardson Financial Services Inc. now owns 618 shares of the company's stock worth $37,000 after acquiring an additional 418 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in shares of Unilever during the 4th quarter worth $43,000. Finally, Greenline Partners LLC purchased a new position in shares of Unilever during the 4th quarter worth $58,000. 9.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Unilever Stock Up 3.5%

NYSE UL traded up $2.03 during trading on Friday, hitting $60.46. The stock had a trading volume of 2,718,551 shares, compared to its average volume of 2,110,575. The company has a market capitalization of $148.35 billion, a PE ratio of 17.32, a PEG ratio of 3.71 and a beta of 0.38. The firm has a 50 day moving average price of $61.57 and a 200 day moving average price of $60.21. Unilever PLC has a twelve month low of $54.32 and a twelve month high of $65.87.

Unilever Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.07 annualized dividend and a yield of 3.4%. This is an increase from Unilever's previous quarterly dividend of $0.52. Unilever's dividend payout ratio is presently 59.03%.

Unilever 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.