Independence Bank of Kentucky Lowers Stake in Unilever PLC (NYSE:UL)

Independence Bank of Kentucky cut its position in shares of Unilever PLC (NYSE:UL) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,985 shares of the company’s stock after selling 300 shares during the quarter. Independence Bank of Kentucky’s holdings in Unilever were worth $150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Marino Stram & Associates LLC lifted its position in Unilever by 2.2% during the fourth quarter. Marino Stram & Associates LLC now owns 9,963 shares of the company’s stock valued at $483,000 after buying an additional 215 shares in the last quarter. Pine Haven Investment Counsel Inc lifted its position in Unilever by 3.7% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 6,133 shares of the company’s stock valued at $297,000 after buying an additional 216 shares in the last quarter. Avidian Wealth Solutions LLC lifted its position in Unilever by 1.0% during the fourth quarter. Avidian Wealth Solutions LLC now owns 21,616 shares of the company’s stock valued at $1,048,000 after buying an additional 216 shares in the last quarter. Baystate Wealth Management LLC lifted its position in Unilever by 29.9% during the fourth quarter. Baystate Wealth Management LLC now owns 948 shares of the company’s stock valued at $46,000 after buying an additional 218 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in Unilever by 3.0% during the third quarter. Lido Advisors LLC now owns 7,890 shares of the company’s stock valued at $390,000 after buying an additional 229 shares in the last quarter. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

Unilever Stock Down 0.7 %

Unilever stock traded down $0.36 during trading hours on Friday, reaching $54.99. 2,487,618 shares of the company were exchanged, compared to its average volume of 2,202,291. The stock has a 50-day moving average of $54.04 and a 200 day moving average of $50.65. Unilever PLC has a 12 month low of $46.16 and a 12 month high of $56.47.

Unilever Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were paid a $0.4556 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.82 annualized dividend and a dividend yield of 3.31%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Argus lifted their price target on shares of Unilever from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Redburn Atlantic upgraded shares of Unilever from a “neutral” rating to a “buy” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. upgraded shares of Unilever from an “underweight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Finally, StockNews.com lowered shares of Unilever from a “buy” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.00.

Unilever 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.