Atria Investments Inc Reduces Stake in Unilever PLC (NYSE:UL)

Atria Investments Inc decreased its position in Unilever PLC (NYSE:UL) by 20.5% during the third quarter, Holdings Channel reports. The fund owned 50,632 shares of the company’s stock after selling 13,027 shares during the period. Atria Investments Inc’s holdings in Unilever were worth $3,289,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ST Germain D J Co. Inc. raised its holdings in 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 purchasing an additional 428 shares during the period. Abich Financial Wealth Management LLC raised its stake 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 buying an additional 425 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Unilever during the 2nd quarter valued at about $30,000. Webster Bank N. A. grew its stake in shares of Unilever by 54.3% during the 2nd quarter. Webster Bank N. A. now owns 617 shares of the company’s stock valued at $34,000 after acquiring an additional 217 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Unilever in the 3rd quarter worth approximately $35,000. 9.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Bank of America raised shares of Unilever from an “underperform” rating to a “buy” rating and lifted their price target for the company from $47.00 to $72.00 in a report on Thursday, August 22nd. StockNews.com cut shares of Unilever from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group upgraded Unilever to a “strong sell” rating in a research note on Tuesday, July 30th. Finally, TD Cowen assumed coverage on Unilever in a report on Tuesday, July 23rd. They set a “buy” rating and a $67.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Unilever has a consensus rating of “Hold” and an average price target of $61.75.

Unilever Stock Performance

UL stock opened at $57.39 on Thursday. The company has a market capitalization of $142.87 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.74 and a beta of 0.49. The company’s fifty day moving average price is $63.06 and its 200-day moving average price is $59.33. Unilever PLC has a one year low of $46.46 and a one year high of $65.87.

Unilever Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $0.4755 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.90 annualized dividend and a yield of 3.31%. This is a boost from Unilever’s previous quarterly dividend of $0.35. Unilever’s payout ratio is presently 55.62%.

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.