Unilever (NYSE:UL) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research has upgraded Unilever from a "hold" rating to a "strong-buy" rating, reflecting a positive outlook on the stock.
• The stock currently trades at $61.47, with a 12-month high of $65.87 and an average price target of $73.00.
• Institutional investors hold 9.67% of Unilever's stock, with several new positions established in recent quarters.

Zacks Research upgraded shares of Unilever (NYSE:UL - Free Report) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

UL has been the topic of several other research reports. Jefferies Financial Group reissued an "underperform" rating on shares of Unilever in a research note on Sunday, August 3rd. BNP Paribas Exane started coverage on shares of Unilever in a report on Thursday, May 29th. They issued an "outperform" rating and a $73.00 price target for the company. CICC Research started coverage on shares of Unilever in a research report on Thursday, August 21st. They set an "outperform" rating on the stock. Finally, BNP Paribas raised shares of Unilever to a "strong-buy" rating in a research report on Thursday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.00.

Unilever Price Performance

NYSE:UL traded down $0.28 during mid-day trading on Wednesday, hitting $60.22. 654,429 shares of the company's stock were exchanged, compared to its average volume of 2,485,958. The company has a market cap of $147.75 billion, a PE ratio of 17.26, a P/E/G ratio of 3.68 and a beta of 0.40. Unilever has a one year low of $54.32 and a one year high of $65.87. The business has a fifty day moving average price of $61.62 and a 200 day moving average price of $61.61.

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 given a dividend of $0.5175 per share. This represents a $2.07 dividend on an annualized basis and a yield of 3.4%. This is a boost from Unilever's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 15th. Unilever's dividend payout ratio (DPR) is presently 59.31%.

Institutional Investors Weigh In On Unilever

A number of large investors have recently modified their holdings of the business. Mission Wealth Management LP raised its position in Unilever by 1.4% during the 1st quarter. Mission Wealth Management LP now owns 11,497 shares of the company's stock worth $685,000 after purchasing an additional 159 shares during the last quarter. Gallacher Capital Management LLC lifted its position in shares of Unilever by 1.9% during the 2nd quarter. Gallacher Capital Management LLC now owns 8,700 shares of the company's stock worth $532,000 after buying an additional 165 shares in the last quarter. Essex Financial Services Inc. raised its holdings in shares of Unilever by 1.0% in the 1st quarter. Essex Financial Services Inc. now owns 16,246 shares of the company's stock worth $967,000 after purchasing an additional 168 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Unilever by 0.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 21,492 shares of the company's stock worth $1,280,000 after purchasing an additional 172 shares during the period. Finally, Cardinal Capital Management raised its holdings in Unilever by 0.4% during the 1st quarter. Cardinal Capital Management now owns 39,953 shares of the company's stock valued at $2,379,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 9.67% of the company's stock.

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.