Wellington Management Group LLP Buys 2,935,227 Shares of Unilever PLC $UL

Key Points

• Wellington Management increased its Unilever stake by 9.3%, adding 2,935,227 shares to hold 34,665,544 shares (about 1.41% of the company) worth roughly $2.055 billion at quarter-end.
• Unilever posted a sharp quarterly miss—EPS $0.75 vs. $1.75 expected and revenue $11.87 billion vs. $31.39 billion expected—indicating weaker-than-anticipated results.
• The company declared a quarterly dividend of $0.5547 (annualized $2.22, ~3.5% yield), while analysts are mixed overall, with an average rating of "Hold" and a $65.55 average price target.

Wellington Management Group LLP raised its position in shares of Unilever PLC (NYSE:UL - Free Report) by 9.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 34,665,544 shares of the company's stock after purchasing an additional 2,935,227 shares during the quarter. Wellington Management Group LLP owned approximately 1.41% of Unilever worth $2,054,973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UL. GPS Wealth Strategies Group LLC boosted its stake in shares of Unilever by 141.3% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 514 shares of the company's stock valued at $30,000 after purchasing an additional 301 shares during the last quarter. Financial Life Planners bought a new position in Unilever during the third quarter worth $30,000. 1620 Investment Advisors Inc. bought a new position in Unilever during the third quarter worth $32,000. True Wealth Design LLC lifted its holdings in Unilever by 548.5% in the third quarter. True Wealth Design LLC now owns 668 shares of the company's stock valued at $40,000 after buying an additional 565 shares during the period. Finally, Oakworth Capital Inc. lifted its holdings in Unilever by 46.3% in the third quarter. Oakworth Capital Inc. now owns 692 shares of the company's stock valued at $41,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 9.67% of the company's stock.

Unilever Stock Performance

NYSE:UL opened at $64.01 on Friday. Unilever PLC has a 12 month low of $61.78 and a 12 month high of $74.97. The firm has a fifty day simple moving average of $68.56 and a two-hundred day simple moving average of $68.11.

Unilever (NYSE:UL - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.00). The firm had revenue of $11.87 billion for the quarter, compared to analysts' expectations of $31.39 billion. Equities research analysts anticipate that Unilever PLC will post 3.27 earnings per share for the current year.

Unilever Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, February 27th will be paid a dividend of $0.5547 per share. This represents a $2.22 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, February 27th.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. DZ Bank downgraded Unilever from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. UBS Group reissued a "sell" rating on shares of Unilever in a research note on Wednesday, December 10th. Morgan Stanley set a $60.10 target price on Unilever and gave the company an "overweight" rating in a research report on Monday, December 15th. Jefferies Financial Group reiterated an "underperform" rating on shares of Unilever in a report on Monday, February 23rd. Finally, BNP Paribas Exane set a $71.00 price target on Unilever and gave the company a "neutral" rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Unilever presently has an average rating of "Hold" and an average price target of $65.55.

Unilever Profile

Unilever PLC is a global consumer goods company with roots dating back to the early 20th century, formed from the merger of the British firm Lever Brothers and the Dutch company Margarine Unie. The company develops, manufactures and markets a broad portfolio of branded products in personal care, home care and foods and refreshments. Unilever's corporate structure and listings reflect its long history in both the United Kingdom and the Netherlands, and it operates at scale across diverse consumer markets worldwide.

Unilever's business is organized around major product categories—Beauty & Personal Care, Home Care and Foods & Refreshment—and includes numerous well-known consumer brands across those categories.

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