DAVENPORT & Co LLC Has $3.48 Million Stake in Unilever PLC (NYSE:UL)

DAVENPORT & Co LLC decreased its position in shares of Unilever PLC (NYSE:UL - Free Report) by 24.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 71,838 shares of the company's stock after selling 23,171 shares during the period. DAVENPORT & Co LLC's holdings in Unilever were worth $3,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Unilever in the 4th quarter worth approximately $181,854,000. Alliancebernstein L.P. purchased a new stake in shares of Unilever in the 4th quarter worth approximately $169,744,000. Lazard Asset Management LLC grew its stake in shares of Unilever by 48.9% in the 2nd quarter. Lazard Asset Management LLC now owns 5,855,011 shares of the company's stock worth $305,221,000 after buying an additional 1,922,771 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Unilever by 1,869.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,519,198 shares of the company's stock valued at $69,625,000 after purchasing an additional 1,442,059 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Unilever by 35.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,748,095 shares of the company's stock valued at $234,556,000 after purchasing an additional 1,238,734 shares during the last quarter. Hedge funds and other institutional investors own 9.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Morgan Stanley downgraded Unilever from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $52.00 to $48.00 in a research note on Tuesday, February 27th. Sanford C. Bernstein upgraded Unilever from an "underperform" rating to a "market perform" rating in a research note on Monday, December 11th. StockNews.com upgraded Unilever from a "hold" rating to a "buy" rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group downgraded Unilever from a "buy" rating to an "underperform" rating in a research note on Monday, December 11th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Unilever presently has a consensus rating of "Hold" and an average target price of $48.00.

Unilever Price Performance

Shares of NYSE UL traded down $0.28 during midday trading on Friday, hitting $48.44. 2,242,530 shares of the stock traded hands, compared to its average volume of 2,712,258. The firm has a 50-day moving average of $49.64 and a two-hundred day moving average of $48.72. Unilever PLC has a one year low of $46.16 and a one year high of $55.99.

Unilever Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, February 23rd were issued a dividend of $0.4582 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.83 annualized dividend and a dividend yield of 3.78%.

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.