Unilever (NYSE:UL) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Unilever (NYSE:UL) from a buy rating to a hold rating in a report published on Thursday.

Several other equities research analysts have also commented on the stock. Redburn Atlantic raised shares of Unilever from a neutral rating to a buy rating in a research note on Friday, June 7th. Argus upped their price target on Unilever from $58.00 to $60.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upgraded Unilever from an underweight rating to an overweight rating in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $54.00.

Unilever Price Performance

Shares of Unilever stock opened at $55.35 on Thursday. Unilever has a 12 month low of $46.16 and a 12 month high of $56.47. The business has a fifty day simple moving average of $53.71 and a two-hundred day simple moving average of $50.56.

Unilever Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were given a $0.4556 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.82 annualized dividend and a yield of 3.29%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Old Port Advisors increased its holdings in Unilever by 1.6% in the 1st quarter. Old Port Advisors now owns 57,200 shares of the company’s stock worth $2,871,000 after buying an additional 896 shares in the last quarter. Keynote Financial Services LLC bought a new stake in shares of Unilever in the first quarter worth approximately $384,000. Pathway Financial Advisers LLC purchased a new position in shares of Unilever during the first quarter valued at approximately $1,806,000. Cetera Advisors LLC raised its holdings in shares of Unilever by 199.4% during the first quarter. Cetera Advisors LLC now owns 80,556 shares of the company’s stock valued at $4,043,000 after purchasing an additional 53,651 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Unilever by 213.6% during the first quarter. Cetera Investment Advisers now owns 277,679 shares of the company’s stock valued at $13,937,000 after purchasing an additional 189,121 shares during the period. Hedge funds and other institutional investors 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.