Parsons Capital Management Inc. RI Lowers Stock Holdings in Unilever PLC $UL

Parsons Capital Management Inc. RI reduced its position in Unilever PLC (NYSE:UL) by 76.6% in the second quarter, Holdings Channel.com reports. The firm owned 7,671 shares of the company’s stock after selling 25,092 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Unilever were worth $469,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new stake in Unilever in the first quarter worth approximately $30,000. Brentview Investment Management LLC bought a new stake in shares of Unilever in the 1st quarter worth approximately $33,000. Richardson Financial Services Inc. boosted its stake in shares of Unilever by 209.0% in the 1st quarter. Richardson Financial Services Inc. now owns 618 shares of the company’s stock valued at $37,000 after purchasing an additional 418 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in shares of Unilever in the 2nd quarter valued at $55,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Unilever during the 1st quarter valued at $63,000. 9.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on UL. CICC Research assumed coverage on shares of Unilever in a research note on Thursday, August 21st. They issued an “outperform” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of Unilever in a report on Saturday, September 27th. Zacks Research upgraded Unilever from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Unilever in a research note on Sunday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Unilever Stock Up 0.2%

Shares of UL stock opened at $59.04 on Friday. The firm has a market capitalization of $144.85 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 3.55 and a beta of 0.40. The stock has a fifty day moving average of $61.46 and a 200 day moving average of $61.59. Unilever PLC has a 52 week low of $54.32 and a 52 week high of $65.66.

Unilever Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 15th were paid a dividend of $0.5175 per share. This represents a $2.07 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Unilever’s previous quarterly dividend of $0.52. Unilever’s payout ratio is presently 59.31%.

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.