Unilever (NYSE:UL) Reaches New 1-Year High at $56.52

Unilever PLC (NYSE:UL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $56.52 and last traded at $56.47, with a volume of 1108279 shares changing hands. The stock had previously closed at $55.55.

Analyst Upgrades and Downgrades

UL has been the subject of several research reports. JPMorgan Chase & Co. raised Unilever from an “underweight” rating to an “overweight” rating in a report on Thursday, May 23rd. StockNews.com downgraded Unilever from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Redburn Atlantic raised Unilever from a “neutral” rating to a “buy” rating in a research note on Friday, June 7th. Finally, Argus upped their price objective on Unilever from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.00.

Unilever Stock Performance

The company has a 50-day simple moving average of $54.77 and a 200-day simple moving average of $51.06.

Unilever Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were given a dividend of $0.4556 per share. This represents a $1.82 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, May 16th.

Hedge Funds Weigh In On Unilever

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Red Tortoise LLC acquired a new position in Unilever in the first quarter valued at $26,000. ST Germain D J Co. Inc. boosted its holdings in Unilever by 423.8% in the second quarter. ST Germain D J Co. Inc. now owns 529 shares of the company’s stock valued at $29,000 after acquiring an additional 428 shares during the last quarter. Life Planning Partners Inc acquired a new position in Unilever in the fourth quarter valued at $27,000. Quent Capital LLC purchased a new position in Unilever in the first quarter valued at about $28,000. Finally, Rise Advisors LLC purchased a new stake in shares of Unilever during the first quarter worth about $28,000. Institutional investors and hedge funds own 9.67% of the company’s stock.

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.