Unilever PLC (NYSE:UL) is Wallace Capital Management Inc.’s 10th Largest Position

Wallace Capital Management Inc. increased its stake in shares of Unilever PLC (NYSE:UL) by 6.1% in the 2nd quarter, Holdings Channel reports. The firm owned 303,982 shares of the company’s stock after buying an additional 17,568 shares during the period. Unilever accounts for approximately 2.1% of Wallace Capital Management Inc.’s holdings, making the stock its 10th biggest position. Wallace Capital Management Inc.’s holdings in Unilever were worth $16,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Red Tortoise LLC purchased a new stake in Unilever during the first quarter valued at approximately $26,000. Rise Advisors LLC bought a new position in shares of Unilever in the first quarter worth approximately $28,000. Quent Capital LLC bought a new position in shares of Unilever in the first quarter worth approximately $28,000. ST Germain D J Co. Inc. boosted its position 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 worth $29,000 after purchasing an additional 428 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Unilever by 393.5% in the second quarter. Abich Financial Wealth Management LLC now owns 533 shares of the company’s stock worth $29,000 after purchasing an additional 425 shares during the period. 9.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Unilever Trading Up 0.3 %

Shares of UL opened at $65.44 on Monday. Unilever PLC has a twelve month low of $46.16 and a twelve month high of $65.87. The company has a market cap of $163.81 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.95 and a beta of 0.48. The company’s fifty day simple moving average is $62.83 and its 200-day simple moving average is $56.35.

Unilever Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 9th were paid a $0.4773 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.91 annualized dividend and a dividend yield of 2.92%. This is an increase from Unilever’s previous quarterly dividend of $0.46. Unilever’s dividend payout ratio is currently 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.