Unilever PLC $UL Shares Sold by Hedges Asset Management LLC

Key Points

• Hedges Asset Management LLC reduced its holdings in Unilever PLC by 38.5%, selling 16,300 shares and leaving them with 26,000 shares worth approximately $1.59 million.
• Unilever has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $73.00.
• The company announced an increase in its quarterly dividend to $0.5175 per share, reflecting a 3.3% yield based on an annualized payout of $2.07.

Hedges Asset Management LLC cut its holdings in shares of Unilever PLC (NYSE:UL - Free Report) by 38.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,000 shares of the company's stock after selling 16,300 shares during the quarter. Unilever comprises 1.3% of Hedges Asset Management LLC's investment portfolio, making the stock its 24th biggest position. Hedges Asset Management LLC's holdings in Unilever were worth $1,590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in Unilever by 13.9% during the first quarter. Wellington Management Group LLP now owns 28,100,442 shares of the company's stock worth $1,673,381,000 after acquiring an additional 3,421,054 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Unilever by 2.5% during the first quarter. Envestnet Asset Management Inc. now owns 3,925,891 shares of the company's stock worth $233,787,000 after purchasing an additional 95,359 shares during the period. Raymond James Financial Inc. raised its stake in Unilever by 7.1% during the first quarter. Raymond James Financial Inc. now owns 3,340,231 shares of the company's stock worth $198,911,000 after purchasing an additional 221,958 shares during the period. Hamlin Capital Management LLC raised its stake in Unilever by 6.8% during the first quarter. Hamlin Capital Management LLC now owns 3,070,860 shares of the company's stock worth $182,870,000 after purchasing an additional 195,931 shares during the period. Finally, Royal Bank of Canada raised its stake in Unilever by 0.5% during the fourth quarter. Royal Bank of Canada now owns 2,926,892 shares of the company's stock worth $165,955,000 after purchasing an additional 14,083 shares during the period. 9.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UL has been the topic of a number of analyst reports. CICC Research initiated coverage on shares of Unilever in a research note on Thursday, August 21st. They set an "outperform" rating on the stock. BNP Paribas raised shares of Unilever to a "strong-buy" rating in a research note on Thursday, May 29th. Jefferies Financial Group reissued an "underperform" rating on shares of Unilever in a research note on Sunday, August 3rd. Finally, BNP Paribas Exane began coverage on shares of Unilever in a research note on Thursday, May 29th. They issued an "outperform" rating and a $73.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Unilever Stock Down 0.9%

Shares of UL opened at $62.90 on Friday. Unilever PLC has a fifty-two week low of $54.32 and a fifty-two week high of $65.87. The firm's 50 day moving average price is $61.55 and its 200 day moving average price is $61.42. The company has a market cap of $154.32 billion, a P/E ratio of 18.02, a PEG ratio of 3.82 and a beta of 0.40.

Unilever Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 15th were paid a dividend of $0.5175 per share. This represents a $2.07 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Unilever's previous quarterly dividend of $0.52. Unilever's payout ratio is currently 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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