Dearborn Partners LLC Grows Stake in Unilever PLC (NYSE:UL)

Dearborn Partners LLC increased its holdings in Unilever PLC (NYSE:UL) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,377 shares of the company’s stock after purchasing an additional 541 shares during the period. Dearborn Partners LLC’s holdings in Unilever were worth $671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Unilever during the fourth quarter valued at approximately $151,263,000. Equity Investment Corp grew its holdings in shares of Unilever by 107.1% in the first quarter. Equity Investment Corp now owns 2,910,751 shares of the company’s stock valued at $146,091,000 after purchasing an additional 1,505,233 shares in the last quarter. Wellington Management Group LLP raised its stake in Unilever by 3.3% during the fourth quarter. Wellington Management Group LLP now owns 34,494,131 shares of the company’s stock valued at $1,672,275,000 after purchasing an additional 1,114,417 shares in the last quarter. Fisher Asset Management LLC lifted its position in Unilever by 9.8% during the fourth quarter. Fisher Asset Management LLC now owns 10,843,977 shares of the company’s stock valued at $525,716,000 after purchasing an additional 965,173 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Unilever by 121.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,352,472 shares of the company’s stock worth $65,568,000 after buying an additional 741,363 shares during the last quarter. 9.67% of the stock is currently owned by institutional investors.

Unilever Price Performance

Unilever stock traded up $0.12 during trading hours on Thursday, hitting $58.32. The company had a trading volume of 1,071,966 shares, compared to its average volume of 2,711,927. The company has a 50-day moving average price of $55.37 and a two-hundred day moving average price of $51.41. Unilever PLC has a 1 year low of $46.16 and a 1 year high of $58.62.

Unilever Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were given a dividend of $0.4556 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, May 16th.

Analyst Ratings Changes

Several research firms have recently weighed in on UL. Argus boosted their target price on Unilever from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. raised shares of Unilever from an “underweight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Redburn Atlantic raised shares of Unilever from a “neutral” rating to a “buy” rating in a research report on Friday, June 7th. Finally, StockNews.com lowered Unilever from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Unilever currently has an average rating of “Hold” and a consensus price target of $54.00.

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.