Unilever PLC (NYSE:UL) Stake Lifted by Meritage Portfolio Management

Meritage Portfolio Management increased its position in shares of Unilever PLC (NYSE:UL) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,306 shares of the company’s stock after purchasing an additional 271 shares during the period. Meritage Portfolio Management’s holdings in Unilever were worth $3,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Arkadios Wealth Advisors boosted its holdings in Unilever by 12.1% during the third quarter. Arkadios Wealth Advisors now owns 4,495 shares of the company’s stock worth $222,000 after buying an additional 485 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Unilever by 3.2% during the 3rd quarter. DAVENPORT & Co LLC now owns 95,009 shares of the company’s stock worth $4,693,000 after acquiring an additional 2,965 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Unilever by 5.6% in the 3rd quarter. Boston Trust Walden Corp now owns 9,505 shares of the company’s stock worth $470,000 after acquiring an additional 500 shares during the last quarter. Greenwood Capital Associates LLC acquired a new stake in shares of Unilever during the third quarter worth $949,000. Finally, Birch Hill Investment Advisors LLC lifted its holdings in shares of Unilever by 26.5% during the third quarter. Birch Hill Investment Advisors LLC now owns 6,200 shares of the company’s stock valued at $306,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 9.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UL. Morgan Stanley cut Unilever from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $52.00 to $48.00 in a research note on Tuesday, February 27th. StockNews.com downgraded shares of Unilever from a “buy” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Unilever currently has a consensus rating of “Hold” and a consensus target price of $48.00.

Unilever Stock Up 5.9 %

Unilever stock traded up $2.85 during mid-day trading on Thursday, hitting $50.92. The company’s stock had a trading volume of 6,762,714 shares, compared to its average volume of 2,871,914. Unilever PLC has a 52-week low of $46.16 and a 52-week high of $55.99. The firm’s 50 day moving average is $49.08 and its 200 day moving average is $48.52.

Unilever Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a dividend of $0.4582 per share. This represents a $1.83 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Thursday, February 22nd.

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.