ABC Arbitrage SA Has $14.61 Million Stake in Unilever PLC (NYSE:UL)

Key Points

• ABC Arbitrage SA increased its stake in Unilever PLC by 61.7% during the first quarter, now holding 245,415 shares valued at approximately $14.6 million, making it the firm's 9th largest investment.
• Unilever recently declared a quarterly dividend of $0.5175 per share, increasing its annualized yield to 3.4% from the previous $0.52.
• Analysts have mixed ratings on Unilever, with BNP Paribas upgrading to a "strong-buy," while the current consensus rating is "Moderate Buy" with a price target of $72.50.

ABC Arbitrage SA grew its position in shares of Unilever PLC (NYSE:UL - Free Report) by 61.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,415 shares of the company's stock after buying an additional 93,648 shares during the quarter. Unilever accounts for approximately 2.7% of ABC Arbitrage SA's investment portfolio, making the stock its 9th biggest holding. ABC Arbitrage SA's holdings in Unilever were worth $14,614,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of UL. Vermillion Wealth Management Inc. bought a new stake in shares of Unilever in the 4th quarter worth approximately $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Unilever in the 1st quarter worth approximately $30,000. Brentview Investment Management LLC bought a new stake in Unilever during the 1st quarter valued at $33,000. Richardson Financial Services Inc. raised its holdings in 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. Finally, Accredited Wealth Management LLC bought a new stake in Unilever during the 4th quarter valued at $43,000. Institutional investors own 9.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UL. BNP Paribas Exane began coverage on shares of Unilever in a research report on Thursday, May 29th. They set an "outperform" rating and a $73.00 price target for the company. Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research report on Sunday, August 3rd. Wall Street Zen lowered shares of Unilever from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. UBS Group upgraded shares of Unilever from a "strong sell" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, BNP Paribas upgraded shares of Unilever to a "strong-buy" rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Unilever currently has an average rating of "Moderate Buy" and a consensus target price of $72.50.

Unilever Stock Down 0.4%

NYSE:UL traded down $0.27 during midday trading on Friday, hitting $61.05. The company had a trading volume of 2,120,505 shares, compared to its average volume of 2,386,603. Unilever PLC has a 52-week low of $54.32 and a 52-week high of $65.87. The stock's fifty day moving average price is $61.28 and its 200-day moving average price is $60.39. The company has a market capitalization of $149.79 billion, a PE ratio of 17.49, a P/E/G ratio of 3.80 and a beta of 0.38.

Unilever Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 15th will be given a $0.5175 dividend. This represents a $2.07 annualized dividend and a yield of 3.4%. This is a boost from Unilever's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 15th. Unilever's dividend payout ratio (DPR) 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.