Griffin Asset Management Inc. Cuts Stake in Unilever PLC (NYSE:UL)

Griffin Asset Management Inc. reduced its position in Unilever PLC (NYSE:UL) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,930 shares of the company’s stock after selling 385 shares during the quarter. Griffin Asset Management Inc.’s holdings in Unilever were worth $1,101,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in Unilever by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 53,913 shares of the company’s stock valued at $2,663,000 after acquiring an additional 1,580 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Unilever during the third quarter valued at approximately $1,156,000. O Shaughnessy Asset Management LLC grew its holdings in Unilever by 24.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 60,193 shares of the company’s stock worth $2,974,000 after purchasing an additional 11,704 shares during the last quarter. Synovus Financial Corp increased its position in shares of Unilever by 4.3% during the third quarter. Synovus Financial Corp now owns 22,023 shares of the company’s stock worth $1,088,000 after purchasing an additional 900 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Unilever by 111.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 552 shares of the company’s stock worth $27,000 after purchasing an additional 291 shares in the last quarter. 9.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Argus boosted 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. JPMorgan Chase & Co. upgraded Unilever from an “underweight” rating to an “overweight” rating in a research note on Thursday, May 23rd. StockNews.com cut shares of Unilever from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Redburn Atlantic raised shares of Unilever from a “neutral” rating to a “buy” rating in a report on Friday, June 7th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.00.

Unilever Stock Performance

UL opened at $54.99 on Friday. Unilever PLC has a twelve month low of $46.16 and a twelve month high of $56.47. The company has a 50-day moving average price of $54.04 and a 200 day moving average price of $50.67.

Unilever Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a dividend of $0.4556 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.82 annualized dividend and a yield of 3.31%.

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.