Unilever PLC (NYSE:UL) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its holdings in Unilever PLC (NYSE:UL - Free Report) by 12.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,669 shares of the company's stock after selling 21,226 shares during the period. Gabelli Funds LLC's holdings in Unilever were worth $7,900,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Red Tortoise LLC purchased a new stake in shares of Unilever during the 1st quarter worth $26,000. Rise Advisors LLC acquired a new position in shares of Unilever during the 1st quarter worth about $28,000. Quent Capital LLC purchased a new position in shares of Unilever in the 1st quarter valued at about $28,000. ST Germain D J Co. Inc. raised its position in shares of Unilever by 423.8% during the 2nd quarter. ST Germain D J Co. Inc. now owns 529 shares of the company's stock worth $29,000 after acquiring an additional 428 shares in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new stake in Unilever during the first quarter worth approximately $30,000. 9.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UL shares. Redburn Atlantic upgraded shares of Unilever from a "neutral" rating to a "buy" rating in a research note on Friday, June 7th. Bank of America raised Unilever from an "underperform" rating to a "buy" rating and boosted their target price for the company from $47.00 to $72.00 in a report on Thursday, August 22nd. StockNews.com upgraded Unilever from a "hold" rating to a "buy" rating in a research note on Saturday, August 3rd. TD Cowen started coverage on Unilever in a research note on Tuesday, July 23rd. They issued a "buy" rating and a $67.00 price objective for the company. Finally, UBS Group upgraded shares of Unilever to a "strong sell" rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $61.75.

Unilever Stock Performance

UL stock opened at $64.91 on Tuesday. The stock has a market capitalization of $162.47 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.98 and a beta of 0.48. The company has a fifty day moving average of $62.25 and a 200-day moving average of $55.91. Unilever PLC has a one year low of $46.16 and a one year high of $65.86.

Unilever Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 9th were given a $0.4773 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.91 dividend on an annualized basis and a yield of 2.94%. This is an increase from Unilever's previous quarterly dividend of $0.46. Unilever's dividend payout ratio (DPR) is presently 54.81%.

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.