Kornitzer Capital Management Inc. KS Increases Stake in Unilever PLC (NYSE:UL)

Kornitzer Capital Management Inc. KS grew its position in Unilever PLC (NYSE:UL) by 48.8% during the 4th quarter, Holdings Channel reports. The fund owned 242,399 shares of the company’s stock after buying an additional 79,451 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Unilever were worth $13,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in UL. Jennison Associates LLC lifted its position in Unilever by 981.6% in the third quarter. Jennison Associates LLC now owns 2,076,169 shares of the company’s stock valued at $134,868,000 after purchasing an additional 1,884,216 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Unilever by 7.1% in the 3rd quarter. Fisher Asset Management LLC now owns 16,726,400 shares of the company’s stock valued at $1,086,547,000 after buying an additional 1,114,177 shares during the period. Citigroup Inc. boosted its stake in shares of Unilever by 493.4% in the third quarter. Citigroup Inc. now owns 1,105,064 shares of the company’s stock valued at $71,785,000 after buying an additional 918,841 shares in the last quarter. Icon Wealth Advisors LLC grew its holdings in Unilever by 7,466.0% during the third quarter. Icon Wealth Advisors LLC now owns 629,569 shares of the company’s stock worth $40,897,000 after acquiring an additional 621,248 shares during the period. Finally, Canoe Financial LP purchased a new position in Unilever in the third quarter worth $23,488,000. Hedge funds and other institutional investors own 9.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Erste Group Bank restated a “hold” rating on shares of Unilever in a research report on Tuesday, November 19th. Royal Bank of Canada lowered shares of Unilever from a “sector perform” rating to an “underperform” rating in a research report on Monday, January 6th. Sanford C. Bernstein raised shares of Unilever from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 9th. Finally, StockNews.com lowered Unilever from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.75.

Unilever Stock Down 1.9 %

Shares of NYSE UL opened at $54.89 on Tuesday. The firm’s 50-day moving average is $57.13 and its two-hundred day moving average is $60.29. Unilever PLC has a 12-month low of $46.46 and a 12-month high of $65.87.

Unilever Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.4674 per share. This represents a $1.87 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Friday, February 28th.

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.