Gabelli Funds LLC Lowers Position in Unilever PLC (NYSE:UL)

Gabelli Funds LLC trimmed its holdings in shares of Unilever PLC (NYSE:UL) by 12.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,669 shares of the company’s stock after selling 21,226 shares during the period. Gabelli Funds LLC’s holdings in Unilever were worth $7,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in UL. Red Tortoise LLC bought a new position in shares of Unilever during the first quarter valued at approximately $26,000. ST Germain D J Co. Inc. lifted its holdings in Unilever by 423.8% during the second 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 period. 1620 Investment Advisors Inc. bought a new stake in Unilever during the 2nd quarter valued at $30,000. Quent Capital LLC purchased a new position in shares of Unilever in the 1st quarter valued at $28,000. Finally, Rise Advisors LLC bought a new position in shares of Unilever in the 1st quarter worth $28,000. Hedge funds and other institutional investors own 9.67% of the company’s stock.

Wall Street Analysts Forecast Growth

UL has been the topic of a number of recent research reports. TD Cowen started coverage on Unilever in a research report on Tuesday, July 23rd. They set a “buy” rating and a $67.00 price objective on the stock. StockNews.com upgraded shares of Unilever from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. UBS Group upgraded shares of Unilever to a “strong sell” rating in a research note on Tuesday, July 30th. Redburn Atlantic upgraded shares of Unilever from a “neutral” rating to a “buy” rating in a research note on Friday, June 7th. Finally, Bank of America raised Unilever from an “underperform” rating to a “buy” rating and upped their price target for the stock from $47.00 to $72.00 in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Unilever currently has an average rating of “Hold” and a consensus price target of $61.75.

Unilever Trading Up 0.8 %

NYSE:UL opened at $64.91 on Tuesday. Unilever PLC has a twelve month low of $46.16 and a twelve month high of $65.86. The company has a market cap of $162.47 billion, a PE ratio of 18.92, a P/E/G ratio of 1.98 and a beta of 0.48. The company’s 50 day moving average is $62.25 and its two-hundred day moving average is $55.91.

Unilever Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 9th were issued a dividend of $0.4773 per share. The ex-dividend date was Friday, August 9th. This is a positive change from Unilever’s previous quarterly dividend of $0.46. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.94%. Unilever’s payout ratio is 54.81%.

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.