Unilever (NYSE:UL) Upgraded at Zacks Research

Zacks Research upgraded shares of Unilever (NYSE:UL) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

UL has been the subject of several other research reports. Jefferies Financial Group restated an “underperform” rating on shares of Unilever in a report on Sunday, August 3rd. BNP Paribas upgraded Unilever to a “strong-buy” rating in a report on Thursday, May 29th. BNP Paribas Exane assumed coverage on Unilever in a report on Thursday, May 29th. They set an “outperform” rating and a $73.00 price target for the company. Finally, CICC Research assumed coverage on Unilever in a report on Thursday, August 21st. They issued an “outperform” rating for the company. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Unilever Price Performance

NYSE UL opened at $61.26 on Wednesday. The stock has a market capitalization of $150.31 billion, a PE ratio of 17.55, a P/E/G ratio of 3.70 and a beta of 0.40. The business has a 50 day simple moving average of $61.63 and a two-hundred day simple moving average of $61.56. Unilever has a 1-year low of $54.32 and a 1-year high of $65.87.

Unilever Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 15th were given a dividend of $0.5175 per share. This is a boost from Unilever’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.07 dividend on an annualized basis and a yield of 3.4%. Unilever’s dividend payout ratio is presently 59.31%.

Institutional Investors Weigh In On Unilever

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Unilever by 13.9% in the 1st quarter. Wellington Management Group LLP now owns 28,100,442 shares of the company’s stock worth $1,673,381,000 after acquiring an additional 3,421,054 shares in the last quarter. Norges Bank bought a new position in shares of Unilever in the 2nd quarter worth $144,979,000. Fisher Asset Management LLC raised its position in shares of Unilever by 10.2% in the 2nd quarter. Fisher Asset Management LLC now owns 21,578,648 shares of the company’s stock worth $1,319,966,000 after acquiring an additional 1,989,631 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Unilever by 78.8% in the 2nd quarter. Corient Private Wealth LLC now owns 1,933,422 shares of the company’s stock worth $118,261,000 after acquiring an additional 852,099 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Unilever by 7,286.5% in the 1st quarter. GAMMA Investing LLC now owns 781,713 shares of the company’s stock worth $46,551,000 after acquiring an additional 771,130 shares in the last quarter. 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.