Summit Global Investments Acquires 22,340 Shares of Unilever PLC (NYSE:UL)

Summit Global Investments increased its holdings in shares of Unilever PLC (NYSE:UL - Free Report) by 58.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,779 shares of the company's stock after purchasing an additional 22,340 shares during the period. Summit Global Investments' holdings in Unilever were worth $3,446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of UL. Golden State Wealth Management LLC bought a new position in Unilever during the 4th quarter worth about $26,000. Financial Life Planners bought a new position in shares of Unilever during the fourth quarter worth about $28,000. VSM Wealth Advisory LLC acquired a new stake in Unilever in the 4th quarter valued at approximately $28,000. Roxbury Financial LLC bought a new stake in Unilever in the 4th quarter valued at approximately $30,000. Finally, Mainstream Capital Management LLC acquired a new stake in shares of Unilever in the fourth quarter valued at approximately $31,000. 9.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on UL shares. Sanford C. Bernstein raised Unilever from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 9th. DZ Bank raised shares of Unilever from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. StockNews.com raised shares of Unilever from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada downgraded shares of Unilever from a "sector perform" rating to an "underperform" rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Unilever currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.33.

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Unilever Stock Performance

Shares of UL stock traded down $0.04 during midday trading on Tuesday, hitting $58.10. 2,219,045 shares of the company were exchanged, compared to its average volume of 2,502,427. Unilever PLC has a 52 week low of $46.46 and a 52 week high of $65.87. The firm has a market capitalization of $143.93 billion, a P/E ratio of 16.65, a PEG ratio of 1.60 and a beta of 0.47. The firm's 50 day moving average price is $57.41 and its two-hundred day moving average price is $59.35.

Unilever Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.4674 dividend. This represents a $1.87 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Friday, February 28th. Unilever's payout ratio is 53.01%.

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.