Unilever (NYSE:UL) Shares Gap Down – Here’s Why

Unilever PLC (NYSE:UL) gapped down before the market opened on Thursday . The stock had previously closed at $59.14, but opened at $55.33. Unilever shares last traded at $55.60, with a volume of 3,189,160 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on UL shares. Erste Group Bank reiterated a “hold” rating on shares of Unilever in a research note on Tuesday, November 19th. Sanford C. Bernstein upgraded shares of Unilever from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 9th. Royal Bank of Canada lowered shares of Unilever from a “sector perform” rating to an “underperform” rating in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of 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 given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.75.

Unilever Price Performance

The company’s 50-day simple moving average is $57.21 and its 200-day simple moving average is $60.35.

Unilever Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.4674 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.87 annualized dividend and a yield of 3.41%.

Hedge Funds Weigh In On Unilever

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Unilever in the 4th quarter worth approximately $26,000. Financial Life Planners acquired a new position in Unilever in the 4th quarter worth approximately $28,000. VSM Wealth Advisory LLC acquired a new position in Unilever in the 4th quarter worth approximately $28,000. Roxbury Financial LLC acquired a new position in Unilever in the 4th quarter worth approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Unilever in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 9.67% of the company’s stock.

About Unilever

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.