M&T Bank Corp Sells 568,029 Shares of Unilever PLC $UL

M&T Bank Corp decreased its position in shares of Unilever PLC (NYSE:UL) by 96.5% in the 4th quarter, Holdings Channel reports. The fund owned 20,628 shares of the company’s stock after selling 568,029 shares during the quarter. M&T Bank Corp’s holdings in Unilever were worth $1,349,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Evergreen Capital Management LLC grew its stake in shares of Unilever by 160.8% during the 4th quarter. Evergreen Capital Management LLC now owns 82,192 shares of the company’s stock worth $5,375,000 after acquiring an additional 50,682 shares during the period. Tred Avon Family Wealth LLC grew its stake in shares of Unilever by 4.1% during the 4th quarter. Tred Avon Family Wealth LLC now owns 13,584 shares of the company’s stock worth $888,000 after acquiring an additional 533 shares during the period. Revisor Wealth Management LLC grew its stake in shares of Unilever by 73.8% during the 4th quarter. Revisor Wealth Management LLC now owns 7,639 shares of the company’s stock worth $500,000 after acquiring an additional 3,244 shares during the period. First Horizon Corp grew its stake in shares of Unilever by 38.9% during the 4th quarter. First Horizon Corp now owns 4,945 shares of the company’s stock worth $323,000 after acquiring an additional 1,385 shares during the period. Finally, Moran Wealth Management LLC grew its stake in shares of Unilever by 15.2% during the 4th quarter. Moran Wealth Management LLC now owns 94,776 shares of the company’s stock worth $6,198,000 after acquiring an additional 12,488 shares during the period. Institutional investors own 9.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UL. Argus upgraded Unilever to a “strong-buy” rating in a research note on Monday, March 2nd. DZ Bank upgraded Unilever from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 8th. Jefferies Financial Group restated an “underperform” rating on shares of Unilever in a research note on Monday, February 23rd. Weiss Ratings downgraded Unilever from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 31st. Finally, Royal Bank Of Canada upgraded Unilever from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.55.

Unilever Stock Performance

Shares of NYSE UL opened at $56.92 on Thursday. Unilever PLC has a 52 week low of $54.95 and a 52 week high of $74.97. The business has a 50-day simple moving average of $62.46 and a two-hundred day simple moving average of $65.73.

Unilever (NYSE:UL) last issued its earnings results on Thursday, February 12th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.00). The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $31.39 billion. On average, equities research analysts expect that Unilever PLC will post 3.68 EPS for the current fiscal year.

Unilever Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, February 27th were paid a $0.5547 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.22 annualized dividend and a yield of 3.9%.

Unilever Profile

Unilever PLC is a global consumer goods company with roots dating back to the early 20th century, formed from the merger of the British firm Lever Brothers and the Dutch company Margarine Unie. The company develops, manufactures and markets a broad portfolio of branded products in personal care, home care and foods and refreshments. Unilever’s corporate structure and listings reflect its long history in both the United Kingdom and the Netherlands, and it operates at scale across diverse consumer markets worldwide.

Unilever’s business is organized around major product categories—Beauty & Personal Care, Home Care and Foods & Refreshment—and includes numerous well-known consumer brands across those categories.