Clearbridge Investments LLC Raises Stake in Unilever PLC (NYSE:UL)

Clearbridge Investments LLC increased its stake in Unilever PLC (NYSE:UL) by 598.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,301,239 shares of the company’s stock after acquiring an additional 1,114,992 shares during the quarter. Clearbridge Investments LLC’s holdings in Unilever were worth $71,555,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Red Tortoise LLC purchased a new position in shares of Unilever during the first quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in Unilever during the 1st quarter worth $28,000. Quent Capital LLC bought a new stake in Unilever during the 1st quarter valued at $28,000. ST Germain D J Co. Inc. lifted its holdings in shares of Unilever by 423.8% in the 2nd 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. Finally, Abich Financial Wealth Management LLC grew its position in shares of Unilever by 393.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 533 shares of the company’s stock worth $29,000 after buying an additional 425 shares in the last quarter. Institutional investors own 9.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UL. Bank of America upgraded Unilever from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $72.00 in a report on Thursday, August 22nd. Redburn Atlantic upgraded shares of Unilever from a “neutral” rating to a “buy” rating in a research note on Friday, June 7th. TD Cowen began coverage on shares of Unilever in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 price objective for the company. UBS Group raised Unilever to a “strong sell” rating in a research report on Tuesday, July 30th. Finally, StockNews.com lowered Unilever from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.75.

Unilever Trading Down 0.8 %

Shares of UL opened at $64.14 on Thursday. Unilever PLC has a 12 month low of $46.16 and a 12 month high of $65.87. The stock has a fifty day moving average price of $63.27 and a 200-day moving average price of $56.63.

Unilever Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 9th were paid a $0.4773 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Unilever’s previous quarterly dividend of $0.46. This represents a $1.91 dividend on an annualized basis and a yield of 2.98%.

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.