Drexel Morgan & Co. Reduces Stake in Unilever PLC (NYSE:UL)

Drexel Morgan & Co. decreased its stake in Unilever PLC (NYSE:UL) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,372 shares of the company’s stock after selling 350 shares during the quarter. Drexel Morgan & Co.’s holdings in Unilever were worth $1,725,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Red Tortoise LLC acquired a new stake in shares of Unilever in the 1st quarter worth $26,000. Rise Advisors LLC purchased a new stake in shares of Unilever during the first quarter worth approximately $28,000. Quent Capital LLC acquired a new stake in shares of Unilever in the 1st quarter valued at $28,000. ST Germain D J Co. Inc. lifted its holdings in Unilever by 423.8% during the 2nd quarter. ST Germain D J Co. Inc. now owns 529 shares of the company’s stock worth $29,000 after buying an additional 428 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in Unilever in the first quarter valued at approximately $30,000. 9.67% of the stock is owned by hedge funds and other institutional investors.

Unilever Price Performance

NYSE:UL opened at $64.33 on Friday. Unilever PLC has a 12-month low of $46.16 and a 12-month high of $65.86. The business has a 50 day simple moving average of $61.96 and a 200 day simple moving average of $55.60. The firm has a market capitalization of $160.33 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.98 and a beta of 0.48.

Unilever Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 9th were issued a dividend of $0.4773 per share. This is a boost from Unilever’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.91 annualized dividend and a yield of 2.97%. Unilever’s payout ratio is presently 55.10%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Redburn Atlantic raised Unilever from a “neutral” rating to a “buy” rating in a research report on Friday, June 7th. TD Cowen initiated coverage on shares of Unilever in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Unilever from an “underweight” rating to an “overweight” rating in a research report on Thursday, May 23rd. StockNews.com upgraded Unilever from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Finally, UBS Group upgraded shares of Unilever to a “strong sell” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Unilever has an average rating of “Hold” and an average price target of $61.75.

Unilever 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.