Unilever (NYSE:UL) Shares Gap Up - Here's What Happened

Unilever PLC (NYSE:UL - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $59.23, but opened at $60.63. Unilever shares last traded at $60.94, with a volume of 801,331 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on UL shares. Sanford C. Bernstein upgraded Unilever from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 9th. Royal Bank of Canada cut shares of Unilever from a "sector perform" rating to an "underperform" rating in a research note on Monday, January 6th. StockNews.com upgraded shares of Unilever from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Erste Group Bank reissued a "hold" rating on shares of Unilever in a report on Tuesday, November 19th. Finally, DZ Bank raised Unilever from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.33.

Unilever Trading Down 0.4 %

The business's 50 day simple moving average is $56.82 and its 200 day simple moving average is $59.77. The firm has a market capitalization of $146.57 billion, a PE ratio of 16.92, a PEG ratio of 1.60 and a beta of 0.47.

Remove Ads

Unilever Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $0.4674 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.87 annualized dividend and a yield of 3.17%. Unilever's dividend payout ratio is currently 53.01%.

Institutional Investors Weigh In On Unilever

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. raised its holdings in Unilever by 6.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 7,583 shares of the company's stock valued at $493,000 after buying an additional 456 shares during the period. Axxcess Wealth Management LLC raised its stake in shares of Unilever by 14.1% in the third quarter. Axxcess Wealth Management LLC now owns 9,422 shares of the company's stock valued at $612,000 after acquiring an additional 1,163 shares during the period. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Unilever in the third quarter valued at $203,000. WCM Investment Management LLC lifted its holdings in shares of Unilever by 236.2% in the 3rd quarter. WCM Investment Management LLC now owns 30,520 shares of the company's stock worth $1,997,000 after acquiring an additional 21,441 shares during the last quarter. Finally, Keystone Financial Services boosted its stake in shares of Unilever by 7.7% during the 3rd quarter. Keystone Financial Services now owns 11,522 shares of the company's stock worth $748,000 after purchasing an additional 826 shares during the period. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

Unilever Company 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.