Unilever (NYSE:UL) Reaches New 1-Year High at $61.28

Unilever PLC (NYSE:UL)’s share price reached a new 52-week high on Wednesday . The company traded as high as $61.28 and last traded at $61.07, with a volume of 100299 shares trading hands. The stock had previously closed at $61.06.

Analysts Set New Price Targets

A number of equities research analysts have commented on UL shares. Argus increased their target price on Unilever from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upgraded Unilever from an “underweight” rating to an “overweight” rating in a report on Thursday, May 23rd. Redburn Atlantic upgraded shares of Unilever from a “neutral” rating to a “buy” rating in a research report on Friday, June 7th. TD Cowen started coverage on Unilever in a research note on Tuesday, July 23rd. They set a “buy” rating and a $67.00 price target for the company. Finally, StockNews.com raised shares of Unilever from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.33.

Unilever Price Performance

The company’s 50 day moving average is $56.23 and its 200 day moving average is $52.07.

Unilever Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be paid a dividend of $0.4773 per share. This represents a $1.91 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Friday, August 9th. This is an increase from Unilever’s previous quarterly dividend of $0.46.

Institutional Investors Weigh In On Unilever

Several hedge funds and other institutional investors have recently made changes to their positions in UL. Wellington Management Group LLP increased its position in Unilever by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 34,494,131 shares of the company’s stock worth $1,672,275,000 after buying an additional 1,114,417 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Unilever by 9.8% during the fourth quarter. Fisher Asset Management LLC now owns 10,843,977 shares of the company’s stock worth $525,716,000 after acquiring an additional 965,173 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Unilever by 5.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,548,241 shares of the company’s stock valued at $317,459,000 after buying an additional 329,705 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Unilever by 19.3% in the first quarter. Lazard Asset Management LLC now owns 4,132,640 shares of the company’s stock worth $207,416,000 after purchasing an additional 668,913 shares during the last quarter. Finally, Norges Bank purchased a new stake in Unilever in the 4th quarter worth approximately $151,263,000. 9.67% of the stock is owned by institutional investors.

Unilever Company 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.