Confluence Investment Management LLC Cuts Stock Position in Unilever PLC (NYSE:UL)

Confluence Investment Management LLC trimmed its holdings in shares of Unilever PLC (NYSE:UL) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,639 shares of the company’s stock after selling 490 shares during the period. Confluence Investment Management LLC’s holdings in Unilever were worth $717,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its stake in shares of Unilever by 393.5% during the second quarter. Abich Financial Wealth Management LLC now owns 533 shares of the company’s stock valued at $29,000 after purchasing an additional 425 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Unilever in the third quarter valued at $35,000. Jamison Private Wealth Management Inc. grew its holdings in Unilever by 202.5% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 605 shares of the company’s stock valued at $39,000 after purchasing an additional 405 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Unilever during the 3rd quarter worth $40,000. Finally, Coastline Trust Co acquired a new position in Unilever in the 3rd quarter worth $48,000. 9.67% of the stock is currently owned by institutional investors and hedge funds.

Unilever Stock Performance

Shares of UL stock opened at $56.52 on Friday. The stock has a market capitalization of $140.05 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.80 and a beta of 0.48. The company’s 50-day simple moving average is $58.83 and its 200-day simple moving average is $60.30. Unilever PLC has a one year low of $46.46 and a one year high of $65.87.

Unilever Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a $0.4755 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, November 8th. This is an increase from Unilever’s previous quarterly dividend of $0.35. Unilever’s payout ratio is currently 56.63%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UL. Erste Group Bank restated a “hold” rating on shares of Unilever in a research note on Tuesday, November 19th. StockNews.com downgraded Unilever from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.75.

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.