Unilever (NYSE:UL) Shares Gap Down - What's Next?

Unilever PLC (NYSE:UL - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $59.14, but opened at $55.33. Unilever shares last traded at $55.60, with a volume of 3,189,160 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on UL shares. Sanford C. Bernstein raised shares of Unilever from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 9th. Royal Bank of Canada cut Unilever from a "sector perform" rating to an "underperform" rating in a research note on Monday, January 6th. Erste Group Bank reiterated a "hold" rating on shares of Unilever in a research report on Tuesday, November 19th. Finally, StockNews.com downgraded Unilever from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $61.75.

Unilever Stock Down 1.9 %

The company has a 50 day moving average of $57.13 and a 200-day moving average of $60.29.

Unilever Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4674 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, February 28th.

Institutional Investors Weigh In On Unilever

Several hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC raised its stake in Unilever by 7.3% during the fourth quarter. Fisher Asset Management LLC now owns 17,940,963 shares of the company's stock valued at $1,017,253,000 after buying an additional 1,214,563 shares during the last quarter. Bank of America Corp DE boosted its holdings in Unilever by 3.4% in the fourth quarter. Bank of America Corp DE now owns 7,906,824 shares of the company's stock worth $448,317,000 after purchasing an additional 257,538 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Unilever by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,103,075 shares of the company's stock worth $289,345,000 after purchasing an additional 250,053 shares during the period. Envestnet Asset Management Inc. raised its stake in Unilever by 9.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,830,532 shares of the company's stock valued at $217,191,000 after buying an additional 327,329 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Unilever by 140.1% during the 4th quarter. Clearbridge Investments LLC now owns 3,719,284 shares of the company's stock valued at $210,883,000 after buying an additional 2,170,242 shares during the last quarter. Institutional investors own 9.67% of the company's stock.

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.