JPMorgan Chase & Co. Upgrades Unilever (NYSE:UL) to Overweight

JPMorgan Chase & Co. upgraded shares of Unilever (NYSE:UL - Free Report) from an underweight rating to an overweight rating in a research report released on Thursday, Marketbeat Ratings reports.

A number of other equities analysts have also recently commented on the company. StockNews.com upgraded Unilever from a hold rating to a buy rating in a report on Wednesday, May 1st. Morgan Stanley cut Unilever from an equal weight rating to an underweight rating and dropped their price target for the company from $52.00 to $48.00 in a research note on Tuesday, February 27th. Finally, Argus lifted their price objective on shares of Unilever from $58.00 to $60.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $54.00.

Unilever Price Performance

Shares of NYSE UL traded up $0.16 during mid-day trading on Thursday, hitting $54.37. The company had a trading volume of 2,296,950 shares, compared to its average volume of 2,867,155. The firm has a 50-day simple moving average of $50.45 and a two-hundred day simple moving average of $49.27. Unilever has a one year low of $46.16 and a one year high of $54.98.

Unilever Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.4556 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Thursday, May 16th.

Hedge Funds Weigh In On Unilever

A number of institutional investors and hedge funds have recently modified their holdings of the business. Red Tortoise LLC acquired a new position in shares of Unilever during the first quarter worth approximately $26,000. Jones Financial Companies Lllp raised its holdings in Unilever by 111.5% during the third quarter. Jones Financial Companies Lllp now owns 552 shares of the company's stock worth $27,000 after buying an additional 291 shares during the last quarter. Life Planning Partners Inc acquired a new position in Unilever during the fourth quarter worth $27,000. Rise Advisors LLC bought a new position in shares of Unilever in the first quarter valued at $28,000. Finally, Quent Capital LLC acquired a new position in shares of Unilever during the first quarter valued at about $28,000. 9.67% of the stock is currently owned by institutional investors.

Unilever Company 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.