Unilever (NYSE:UL) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Unilever (NYSE:UL) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Other analysts also recently issued research reports about the stock. TD Cowen initiated coverage on shares of Unilever in a report on Tuesday, July 23rd. They issued a buy rating and a $67.00 price objective for the company. Bank of America upgraded Unilever from an underperform rating to a buy rating and lifted their price objective for the stock from $47.00 to $72.00 in a research report on Thursday, August 22nd. UBS Group upgraded Unilever to a strong sell rating in a report on Tuesday, July 30th. Finally, Redburn Atlantic upgraded Unilever from a neutral rating to a buy rating in a report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $61.75.

Unilever Price Performance

UL stock opened at $62.25 on Friday. Unilever has a 52 week low of $46.16 and a 52 week high of $65.87. The firm has a 50-day simple moving average of $63.39 and a 200-day simple moving average of $56.87.

Unilever Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 9th were issued a $0.4773 dividend. This is an increase from Unilever’s previous quarterly dividend of $0.46. This represents a $1.91 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, August 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of UL. Foresight Capital Management Advisors Inc. boosted its holdings in Unilever by 4.8% in the 3rd quarter. Foresight Capital Management Advisors Inc. now owns 46,434 shares of the company’s stock valued at $3,016,000 after purchasing an additional 2,139 shares in the last quarter. Value Partners Investments Inc. lifted its holdings in shares of Unilever by 4.6% in the 3rd quarter. Value Partners Investments Inc. now owns 8,752 shares of the company’s stock valued at $569,000 after buying an additional 383 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in shares of Unilever by 0.9% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 73,564 shares of the company’s stock valued at $4,779,000 after buying an additional 669 shares during the period. GAMMA Investing LLC boosted its stake in shares of Unilever by 49.1% in the third quarter. GAMMA Investing LLC now owns 10,683 shares of the company’s stock valued at $694,000 after buying an additional 3,517 shares in the last quarter. Finally, Cullen Investment Group LTD. acquired a new position in Unilever during the third quarter worth $204,000. 9.67% of the stock is currently owned by hedge funds and other 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.