Unilever (NYSE:UL) Shares Gap Up to $48.07

Unilever PLC (NYSE:UL) shares gapped up before the market opened on Thursday . The stock had previously closed at $48.07, but opened at $50.57. Unilever shares last traded at $50.57, with a volume of 1,999,683 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Unilever from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley cut shares of Unilever from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $52.00 to $48.00 in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.00.

Unilever Price Performance

The company’s 50-day moving average price is $49.11 and its 200 day moving average price is $48.56.

Unilever Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.4556 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.82 annualized dividend and a dividend yield of 3.56%.

Institutional Investors Weigh In On Unilever

Several institutional investors and hedge funds have recently modified their holdings of UL. Boston Trust Walden Corp lifted its position in shares of Unilever by 5.6% in the 3rd quarter. Boston Trust Walden Corp now owns 9,505 shares of the company’s stock worth $470,000 after purchasing an additional 500 shares during the period. Simplicity Solutions LLC lifted its position in shares of Unilever by 1.6% in the 3rd quarter. Simplicity Solutions LLC now owns 40,956 shares of the company’s stock worth $2,023,000 after purchasing an additional 631 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in Unilever by 28.1% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 8,076 shares of the company’s stock valued at $399,000 after acquiring an additional 1,774 shares during the period. Ballentine Partners LLC lifted its position in Unilever by 7.8% during the 3rd quarter. Ballentine Partners LLC now owns 13,477 shares of the company’s stock valued at $666,000 after acquiring an additional 975 shares during the period. Finally, First Personal Financial Services lifted its position in Unilever by 3.6% during the 3rd quarter. First Personal Financial Services now owns 195,308 shares of the company’s stock valued at $9,648,000 after acquiring an additional 6,768 shares during the period. 9.67% of the stock is 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.