Ritholtz Wealth Management Increases Position in Unilever PLC (NYSE:UL)

Ritholtz Wealth Management raised its position in shares of Unilever PLC (NYSE:UL) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,330 shares of the company’s stock after purchasing an additional 2,698 shares during the period. Ritholtz Wealth Management’s holdings in Unilever were worth $1,325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Unilever in the fourth quarter worth $181,854,000. Alliancebernstein L.P. bought a new stake in shares of Unilever during the 4th quarter valued at $169,744,000. Lazard Asset Management LLC grew its position in shares of Unilever by 48.9% in the 2nd quarter. Lazard Asset Management LLC now owns 5,855,011 shares of the company’s stock worth $305,221,000 after buying an additional 1,922,771 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Unilever by 1,869.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,519,198 shares of the company’s stock worth $69,625,000 after acquiring an additional 1,442,059 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Unilever by 35.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,748,095 shares of the company’s stock valued at $234,556,000 after acquiring an additional 1,238,734 shares during the period. Institutional investors own 9.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UL shares. Sanford C. Bernstein raised Unilever from an “underperform” rating to a “market perform” rating in a research report on Monday, December 11th. Jefferies Financial Group cut shares of Unilever from a “buy” rating to an “underperform” rating in a report on Monday, December 11th. Morgan Stanley cut Unilever from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $52.00 to $48.00 in a research report on Tuesday, February 27th. Finally, StockNews.com upgraded shares of Unilever from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.00.

Unilever Price Performance

Shares of NYSE:UL opened at $50.19 on Friday. The stock’s 50-day simple moving average is $49.37 and its two-hundred day simple moving average is $48.75. Unilever PLC has a 52-week low of $46.16 and a 52-week high of $55.99.

Unilever Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were given a $0.4582 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.83 annualized dividend and a yield of 3.65%.

Unilever Company Profile

Unilever PLC operates as a fast-moving consumer goods company. It operates through Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream segments. 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, which includes the vitamins, minerals, and supplements.