Unilever (NYSE:UL) Shares Gap Up to $48.07

Unilever PLC (NYSE:UL) gapped up prior to trading on Thursday . The stock had previously closed at $48.07, but opened at $50.57. Unilever shares last traded at $50.57, with a volume of 1,999,683 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on UL shares. Morgan Stanley lowered shares of Unilever from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $52.00 to $48.00 in a research note on Tuesday, February 27th. StockNews.com lowered shares of Unilever from a “buy” rating to a “hold” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.00.

Unilever Stock Performance

The business has a 50 day moving average price of $49.08 and a 200-day moving average price of $48.52.

Unilever Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were paid a $0.4582 dividend. This represents a $1.83 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Thursday, February 22nd.

Institutional Investors Weigh In On Unilever

A number of large investors have recently added to or reduced their stakes in UL. Wellington Management Group LLP grew its holdings in Unilever by 3.3% in the 4th quarter. Wellington Management Group LLP now owns 34,494,131 shares of the company’s stock valued at $1,672,275,000 after buying an additional 1,114,417 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Unilever by 9.8% during the 4th quarter. Fisher Asset Management LLC now owns 10,843,977 shares of the company’s stock worth $525,716,000 after purchasing an additional 965,173 shares in the last quarter. FMR LLC grew its holdings in shares of Unilever by 6.4% during the 3rd quarter. FMR LLC now owns 8,548,447 shares of the company’s stock worth $422,293,000 after purchasing an additional 515,088 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Unilever by 5.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,548,241 shares of the company’s stock worth $317,459,000 after purchasing an additional 329,705 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Unilever by 35.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,748,095 shares of the company’s stock worth $234,556,000 after buying an additional 1,238,734 shares during the last quarter. Institutional investors 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.