Lake Street Advisors Group LLC Lowers Position in Unilever PLC (NYSE:UL)

Lake Street Advisors Group LLC cut its holdings in Unilever PLC (NYSE:UL) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,575 shares of the company’s stock after selling 241 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Unilever were worth $691,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in UL. Red Tortoise LLC purchased a new stake in Unilever in the first quarter worth about $26,000. Rise Advisors LLC purchased a new stake in Unilever in the first quarter worth about $28,000. Quent Capital LLC purchased a new stake in Unilever in the first quarter worth about $28,000. ST Germain D J Co. Inc. lifted its stake in Unilever by 423.8% in the second quarter. ST Germain D J Co. Inc. now owns 529 shares of the company’s stock worth $29,000 after acquiring an additional 428 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Unilever during the first quarter valued at about $30,000. 9.67% of the stock is owned by hedge funds and other institutional investors.

Unilever Stock Performance

UL opened at $65.25 on Friday. Unilever PLC has a 52-week low of $46.16 and a 52-week high of $65.72. The firm’s 50-day moving average price is $60.25 and its 200-day moving average price is $54.70.

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 represents a $1.91 annualized dividend and a dividend yield of 2.93%. This is an increase from Unilever’s previous quarterly dividend of $0.46.

Analyst Upgrades and Downgrades

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

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.