Hamlin Capital Management LLC Sells 655,159 Shares of Unilever PLC $UL

Hamlin Capital Management LLC lessened its stake in shares of Unilever PLC (NYSE:UL) by 21.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,430,412 shares of the company’s stock after selling 655,159 shares during the quarter. Unilever comprises about 3.3% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Hamlin Capital Management LLC’s holdings in Unilever were worth $144,075,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of UL. Wellington Management Group LLP raised its holdings in Unilever by 9.3% in the 3rd quarter. Wellington Management Group LLP now owns 34,665,544 shares of the company’s stock valued at $2,054,973,000 after acquiring an additional 2,935,227 shares during the period. Fisher Asset Management LLC grew its position in shares of Unilever by 4.4% in the third quarter. Fisher Asset Management LLC now owns 22,537,917 shares of the company’s stock valued at $1,336,048,000 after purchasing an additional 959,269 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Unilever by 1.6% during the third quarter. Bank of America Corp DE now owns 5,773,638 shares of the company’s stock worth $342,261,000 after purchasing an additional 91,049 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Unilever by 3.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,001,060 shares of the company’s stock worth $237,183,000 after purchasing an additional 133,776 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Unilever by 0.5% in the 3rd quarter. Raymond James Financial Inc. now owns 3,293,210 shares of the company’s stock valued at $195,221,000 after purchasing an additional 17,763 shares during the period. Institutional investors and hedge funds own 9.67% of the company’s stock.

Analyst Upgrades and Downgrades

UL has been the topic of several recent research reports. Jefferies Financial Group reiterated an “underperform” rating on shares of Unilever in a research report on Monday, February 23rd. Argus raised shares of Unilever to a “strong-buy” rating in a research report on Monday, March 2nd. DZ Bank cut shares of Unilever from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Weiss Ratings lowered shares of Unilever from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Finally, UBS Group reaffirmed a “sell” rating on shares of Unilever in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $65.55.

Unilever Stock Down 0.6%

UL stock opened at $64.01 on Monday. Unilever PLC has a 52 week low of $61.78 and a 52 week high of $74.97. The business has a 50-day simple moving average of $68.56 and a 200 day simple moving average of $68.08.

Unilever (NYSE:UL) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.00). The business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $31.39 billion. As a group, research analysts forecast that Unilever PLC will post 3.27 EPS for the current fiscal year.

Unilever Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, February 27th will be given a dividend of $0.5547 per share. The ex-dividend date is Friday, February 27th. This represents a $2.22 annualized dividend and a dividend yield of 3.5%.

About Unilever

Unilever PLC is a global consumer goods company with roots dating back to the early 20th century, formed from the merger of the British firm Lever Brothers and the Dutch company Margarine Unie. The company develops, manufactures and markets a broad portfolio of branded products in personal care, home care and foods and refreshments. Unilever’s corporate structure and listings reflect its long history in both the United Kingdom and the Netherlands, and it operates at scale across diverse consumer markets worldwide.

Unilever’s business is organized around major product categories—Beauty & Personal Care, Home Care and Foods & Refreshment—and includes numerous well-known consumer brands across those categories.