Unilever PLC $UL Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC significantly reduced its stake in Unilever PLC by 91.1% in the second quarter, now holding only 6,072 shares valued at $371,000 after selling 62,050 shares.
• Unilever recently increased its quarterly dividend to $0.5175, representing an annual yield of 3.4% with a payout ratio of 59.31%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Unilever, with two analysts rating it as a Strong Buy and an average target price of $73.00.

Procyon Advisors LLC cut its holdings in shares of Unilever PLC (NYSE:UL - Free Report) by 91.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,072 shares of the company's stock after selling 62,050 shares during the period. Procyon Advisors LLC's holdings in Unilever were worth $371,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in UL. Vermillion Wealth Management Inc. bought a new stake in Unilever in the fourth quarter worth $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of Unilever in the first quarter worth $30,000. Brentview Investment Management LLC purchased a new stake in Unilever during the first quarter valued at $33,000. Richardson Financial Services Inc. lifted 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 purchasing an additional 418 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in Unilever in the first quarter worth approximately $63,000. 9.67% of the stock is owned by hedge funds and other institutional investors.

Unilever Stock Down 1.0%

Shares of Unilever stock traded down $0.61 on Monday, reaching $60.60. The stock had a trading volume of 1,660,595 shares, compared to its average volume of 2,482,477. The company has a 50 day moving average price of $61.63 and a 200 day moving average price of $61.60. Unilever PLC has a 1 year low of $54.32 and a 1 year high of $65.87. The stock has a market capitalization of $148.68 billion, a P/E ratio of 17.37, a P/E/G ratio of 3.68 and a beta of 0.40.

Unilever Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 15th were issued a $0.5175 dividend. This is a boost from Unilever's previous quarterly dividend of $0.52. This represents a $2.07 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Unilever's dividend payout ratio is 59.31%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UL. Jefferies Financial Group reiterated an "underperform" rating on shares of Unilever in a research report on Sunday, August 3rd. Zacks Research upgraded Unilever from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 17th. 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 for the company. CICC Research began coverage on Unilever in a report on Thursday, August 21st. They issued an "outperform" rating on the stock. Finally, BNP Paribas upgraded shares of Unilever to a "strong-buy" rating in a report on Thursday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.00.

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.