Envestnet Asset Management Inc. Lowers Holdings in Unilever PLC (NYSE:UL)

Envestnet Asset Management Inc. lowered its position in shares of Unilever PLC (NYSE:UL) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,870,207 shares of the company’s stock after selling 348,970 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Unilever worth $212,823,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Red Tortoise LLC acquired a new position in shares of Unilever during the first quarter valued at approximately $26,000. ST Germain D J Co. Inc. increased its holdings in shares of Unilever by 423.8% in the second quarter. ST Germain D J Co. Inc. now owns 529 shares of the company’s stock valued at $29,000 after purchasing an additional 428 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Unilever in the second quarter valued at approximately $30,000. Quent Capital LLC acquired a new stake in shares of Unilever in the first quarter valued at approximately $28,000. Finally, Rise Advisors LLC acquired a new stake in shares of Unilever in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 9.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com raised Unilever from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. TD Cowen assumed coverage on Unilever in a report on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 price target for the company. UBS Group raised Unilever to a “strong sell” rating in a report on Tuesday, July 30th. Bank of America raised Unilever from an “underperform” rating to a “buy” rating and raised their target price for the stock from $47.00 to $72.00 in a research note on Thursday, August 22nd. Finally, Redburn Atlantic raised Unilever from a “neutral” rating to a “buy” rating in a research note on Friday, June 7th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Unilever currently has a consensus rating of “Hold” and an average price target of $61.75.

Unilever Price Performance

UL stock opened at $65.06 on Monday. Unilever PLC has a 52-week low of $46.16 and a 52-week high of $65.86. The business has a fifty day moving average of $61.26 and a two-hundred day moving average of $55.25.

Unilever Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 9th were given a dividend of $0.4773 per share. This is a positive change from Unilever’s previous quarterly dividend of $0.46. This represents a $1.91 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Friday, August 9th.

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.