Spinnaker Trust Sells 250 Shares of Unilever PLC (NYSE:UL)

Spinnaker Trust decreased its stake in shares of Unilever PLC (NYSE:UL) by 2.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,485 shares of the company’s stock after selling 250 shares during the period. Spinnaker Trust’s holdings in Unilever were worth $551,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. ST Germain D J Co. Inc. grew its position in shares of Unilever by 423.8% in the second quarter. ST Germain D J Co. Inc. now owns 529 shares of the company’s stock valued at $29,000 after purchasing an additional 428 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Unilever by 393.5% during the 2nd 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. 1620 Investment Advisors Inc. acquired a new stake in Unilever in the 2nd quarter valued at approximately $30,000. Webster Bank N. A. increased its position in Unilever by 54.3% in the 2nd quarter. Webster Bank N. A. now owns 617 shares of the company’s stock worth $34,000 after buying an additional 217 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Unilever during the third quarter worth approximately $35,000. 9.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UL. Bank of America upgraded shares of Unilever from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $47.00 to $72.00 in a research note on Thursday, August 22nd. UBS Group upgraded shares of Unilever to a “strong sell” rating in a research report on Tuesday, July 30th. StockNews.com raised shares of Unilever from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Finally, TD Cowen started coverage on shares of Unilever in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Unilever currently has an average rating of “Hold” and an average target price of $61.75.

Unilever Price Performance

Shares of NYSE UL opened at $59.27 on Thursday. The business has a fifty day moving average of $63.56 and a two-hundred day moving average of $59.00. Unilever PLC has a 52-week low of $46.46 and a 52-week high of $65.87.

Unilever Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $0.4755 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from Unilever’s previous quarterly dividend of $0.35. This represents a $1.90 dividend on an annualized basis and a yield of 3.21%.

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.