Zions Bancorporation National Association UT Takes Position in Unilever PLC (NYSE:UL)

Key Points

• Zions Bancorporation National Association UT has made a new investment in Unilever PLC, purchasing 66,232 shares worth approximately $3.94 million.
• Unilever recently announced an increase in its quarterly dividend to $0.5175 per share, representing a 3.4% dividend yield.
• Analysts have mixed opinions on Unilever, with one upgrade to "outperform" from BNP Paribas and a consensus target price of $72.50 for the stock.

Zions Bancorporation National Association UT purchased a new position in shares of Unilever PLC (NYSE:UL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 66,232 shares of the company's stock, valued at approximately $3,944,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Unilever by 3.4% during the 4th quarter. Bank of America Corp DE now owns 7,906,824 shares of the company's stock worth $448,317,000 after buying an additional 257,538 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Unilever by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,103,075 shares of the company's stock worth $289,345,000 after acquiring an additional 250,053 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Unilever by 2.5% during the 1st 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. Royal Bank of Canada raised its stake in shares of Unilever by 0.5% during the 4th 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. Finally, Northern Trust Corp raised its stake in shares of Unilever by 52.1% during the 4th quarter. Northern Trust Corp now owns 2,166,456 shares of the company's stock worth $122,838,000 after purchasing an additional 742,260 shares during the period. Institutional investors own 9.67% of the company's stock.

Wall Street Analysts Forecast Growth

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

Unilever Stock Up 0.4%

Unilever stock traded up $0.22 during midday trading on Tuesday, reaching $61.12. The stock had a trading volume of 1,897,131 shares, compared to its average volume of 2,539,178. Unilever PLC has a 12 month low of $54.32 and a 12 month high of $65.87. The firm's 50-day moving average price is $61.23 and its 200 day moving average price is $60.47. The firm has a market capitalization of $149.97 billion, a PE ratio of 17.51, a P/E/G ratio of 3.78 and a beta of 0.38.

Unilever Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 15th will be given a dividend of $0.5175 per share. This is a boost from Unilever's previous quarterly dividend of $0.52. This represents a $2.07 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, August 15th. Unilever's dividend payout ratio (DPR) is currently 59.03%.

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.