Bell Bank Sells 23,321 Shares of Unilever PLC $UL

Key Points

• Bell Bank has decreased its stake in Unilever PLC by 19.5%, selling 23,321 shares during the second quarter, bringing its total holdings to 96,432 shares valued at approximately $5.9 million.
• Unilever recently paid a quarterly dividend of $0.5175 per share, representing an annualized dividend of $2.07 and a yield of 3.4%, an increase from the previous dividend amount.
• Analysts have mixed ratings on Unilever, with a consensus target price of $73.00, indicating a balance of optimism and caution regarding the company's future performance.

Bell Bank lowered its stake in shares of Unilever PLC (NYSE:UL - Free Report) by 19.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,432 shares of the company's stock after selling 23,321 shares during the quarter. Bell Bank's holdings in Unilever were worth $5,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vermillion Wealth Management Inc. bought a new position in Unilever during the fourth quarter worth $30,000. N.E.W. Advisory Services LLC bought a new position in Unilever during the first quarter worth $30,000. Brentview Investment Management LLC bought a new position in Unilever during the first quarter worth $33,000. Richardson Financial Services Inc. increased its position in Unilever by 209.0% during the first 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 period. Finally, Opal Wealth Advisors LLC bought a new position in Unilever during the first quarter worth $63,000. Institutional investors own 9.67% of the company's stock.

Analyst Ratings Changes

UL has been the topic of a number of research reports. CICC Research initiated coverage on shares of Unilever in a research report on Thursday, August 21st. They set an "outperform" rating on the stock. Jefferies Financial Group reiterated an "underperform" rating on shares of Unilever in a research note on Sunday, August 3rd. BNP Paribas upgraded shares of Unilever to a "strong-buy" rating in a research note on Thursday, May 29th. BNP Paribas Exane began coverage on shares of Unilever in a research note on Thursday, May 29th. They set an "outperform" rating and a $73.00 price target on the stock. Finally, Zacks Research upgraded shares of Unilever from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Unilever presently has an average rating of "Moderate Buy" and an average target price of $73.00.

Unilever Trading Down 0.3%

Shares of Unilever stock traded down $0.20 during trading on Friday, reaching $61.26. The company's stock had a trading volume of 2,471,206 shares, compared to its average volume of 2,116,739. The stock has a 50-day moving average price of $61.63 and a two-hundred day moving average price of $61.58. Unilever PLC has a one year low of $54.32 and a one year high of $65.87. The stock has a market capitalization of $150.31 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 3.68 and a beta of 0.40.

Unilever Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 15th were issued a dividend of $0.5175 per share. The ex-dividend date of this dividend was 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 (DPR) is presently 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.