Unilever PLC (NYSE:UL) Stake Reduced by GSB Wealth Management LLC

GSB Wealth Management LLC trimmed its stake in Unilever PLC (NYSE:UL) by 1.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 56,011 shares of the company’s stock after selling 817 shares during the quarter. Unilever makes up about 0.9% of GSB Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. GSB Wealth Management LLC’s holdings in Unilever were worth $3,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of UL. Fiera Capital Corp raised its stake in Unilever by 1,866.0% during the 2nd quarter. Fiera Capital Corp now owns 2,135,859 shares of the company’s stock valued at $117,451,000 after acquiring an additional 2,027,221 shares in the last quarter. Equity Investment Corp lifted its stake in shares of Unilever by 107.1% in the 1st quarter. Equity Investment Corp now owns 2,910,751 shares of the company’s stock worth $146,091,000 after acquiring an additional 1,505,233 shares during the period. Bank of Montreal Can boosted its holdings in shares of Unilever by 249.5% in the second quarter. Bank of Montreal Can now owns 1,748,329 shares of the company’s stock valued at $98,204,000 after acquiring an additional 1,248,136 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Unilever by 598.7% during the second quarter. Clearbridge Investments LLC now owns 1,301,239 shares of the company’s stock worth $71,555,000 after purchasing an additional 1,114,992 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Unilever by 26.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,384,944 shares of the company’s stock worth $241,145,000 after purchasing an additional 911,443 shares during the period. Institutional investors and hedge funds own 9.67% of the company’s stock.

Unilever Stock Down 1.2 %

NYSE:UL opened at $61.53 on Wednesday. The stock’s 50-day moving average is $63.84 and its two-hundred day moving average is $58.49. Unilever PLC has a fifty-two week low of $46.46 and a fifty-two week high of $65.87.

Unilever Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $0.4755 per share. This is a boost from Unilever’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, November 8th. This represents a $1.90 dividend on an annualized basis and a yield of 3.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on UL. TD Cowen assumed coverage on 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 increased their price target for the company from $47.00 to $72.00 in a research report on Thursday, August 22nd. StockNews.com upgraded Unilever from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Finally, UBS Group raised shares of Unilever to a “strong sell” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.75.

Unilever 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.