Griffin Asset Management Inc. Reduces Stock Holdings in Unilever PLC (NYSE:UL)

Griffin Asset Management Inc. lessened its holdings in shares of Unilever PLC (NYSE:UL) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its holdings in Unilever by 51.1% in the 3rd quarter. Citigroup Inc. now owns 672,859 shares of the company’s stock valued at $33,239,000 after acquiring an additional 227,681 shares during the last quarter. Allen Wealth Management LLC acquired a new position in Unilever during the fourth quarter valued at approximately $2,415,000. Principal Securities Inc. acquired a new position in Unilever during the 4th quarter worth $1,131,000. Virtu Financial LLC acquired a new position in shares of Unilever during the 4th quarter worth about $867,000. Finally, Levin Capital Strategies L.P. increased its position in Unilever by 35.7% during the fourth quarter. Levin Capital Strategies L.P. now owns 428,269 shares of the company’s stock worth $20,762,000 after acquiring an additional 112,677 shares during the period. 9.67% of the stock is currently owned by institutional investors.

Unilever Trading Down 0.7 %

Shares of Unilever stock opened at $54.99 on Friday. Unilever PLC has a 12-month low of $46.16 and a 12-month high of $56.47. The business’s 50 day moving average is $54.04 and its 200-day moving average is $50.67.

Unilever Cuts Dividend

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

Analyst Ratings Changes

UL has been the subject of several recent research reports. StockNews.com lowered shares of Unilever from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. upgraded Unilever from an “underweight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Redburn Atlantic upgraded Unilever from a “neutral” rating to a “buy” rating in a research report on Friday, June 7th. Finally, Argus increased their target price on shares of Unilever from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.00.

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.