Saratoga Research & Investment Management Reduces Stock Position in Unilever PLC (NYSE:UL)

Saratoga Research & Investment Management lowered its position in shares of Unilever PLC (NYSE:UL - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,607,574 shares of the company's stock after selling 159,633 shares during the period. Unilever comprises approximately 7.4% of Saratoga Research & Investment Management's holdings, making the stock its 2nd largest holding. Saratoga Research & Investment Management owned about 0.11% of Unilever worth $169,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in UL. Wealth Enhancement Advisory Services LLC lifted its holdings in Unilever by 16.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 110,528 shares of the company's stock worth $7,180,000 after buying an additional 15,941 shares during the period. Verition Fund Management LLC bought a new position in shares of Unilever in the 3rd quarter worth $11,694,000. Bank of Montreal Can lifted its stake in shares of Unilever by 249.5% during the 2nd quarter. Bank of Montreal Can now owns 1,748,329 shares of the company's stock worth $98,204,000 after purchasing an additional 1,248,136 shares during the last quarter. WCM Investment Management LLC boosted its position in Unilever by 236.2% during the third quarter. WCM Investment Management LLC now owns 30,520 shares of the company's stock valued at $1,997,000 after purchasing an additional 21,441 shares in the last quarter. Finally, Radnor Capital Management LLC purchased a new position in Unilever in the third quarter valued at about $1,388,000. 9.67% of the stock is currently owned by institutional investors.

Unilever Stock Up 0.1 %

NYSE UL opened at $58.79 on Thursday. Unilever PLC has a 12-month low of $46.46 and a 12-month high of $65.87. The company has a fifty day simple moving average of $60.42 and a two-hundred day simple moving average of $60.08.

Unilever Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a $0.4755 dividend. This is a positive change from Unilever's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.90 dividend on an annualized basis and a yield of 3.24%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UL shares. Bank of America upgraded shares of Unilever from an "underperform" rating to a "buy" rating and raised their price target for the company from $47.00 to $72.00 in a report on Thursday, August 22nd. StockNews.com lowered shares of Unilever from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Erste Group Bank reiterated a "hold" rating on shares of Unilever in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $61.75.

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.

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