Pinnacle Associates Ltd. Has $2.06 Million Holdings in Unilever PLC (NYSE:UL)

Pinnacle Associates Ltd. lessened its holdings in shares of Unilever PLC (NYSE:ULFree Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,512 shares of the company’s stock after selling 1,462 shares during the period. Pinnacle Associates Ltd.’s holdings in Unilever were worth $2,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UL. Allianz Asset Management GmbH grew its position in shares of Unilever by 43.5% during the 1st quarter. Allianz Asset Management GmbH now owns 26,032 shares of the company’s stock worth $1,186,000 after purchasing an additional 7,895 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Unilever by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 48,220 shares of the company’s stock worth $2,197,000 after purchasing an additional 1,963 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of Unilever by 40.5% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,294 shares of the company’s stock worth $1,881,000 after purchasing an additional 11,905 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Unilever by 10.7% during the 1st quarter. Baird Financial Group Inc. now owns 127,034 shares of the company’s stock worth $5,788,000 after acquiring an additional 12,302 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Unilever by 204.6% during the 1st quarter. Covestor Ltd now owns 667 shares of the company’s stock worth $30,000 after acquiring an additional 448 shares during the period. Institutional investors and hedge funds own 9.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on UL shares. StockNews.com raised shares of Unilever from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Sanford C. Bernstein raised shares of Unilever from an “underperform” rating to a “market perform” rating in a report on Monday, December 11th. Jefferies Financial Group downgraded shares of Unilever from a “buy” rating to an “underperform” rating in a report on Monday, December 11th. Finally, Morgan Stanley downgraded shares of Unilever from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $52.00 to $48.00 in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Unilever has an average rating of “Hold” and an average target price of $48.00.

Check Out Our Latest Report on Unilever

Unilever Price Performance

Shares of NYSE:UL opened at $49.86 on Tuesday. The firm has a 50 day simple moving average of $49.49 and a 200 day simple moving average of $48.73. Unilever PLC has a one year low of $46.16 and a one year high of $55.99.

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 paid a $0.4582 dividend. This represents a $1.83 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, February 22nd.

About Unilever

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Unilever (NYSE:UL)

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