Unilever (NYSE:UL) Cut to Hold at DZ Bank

DZ Bank cut shares of Unilever (NYSE:UL) from a buy rating to a hold rating in a report published on Wednesday, Marketbeat Ratings reports.

A number of other brokerages also recently commented on UL. Kepler Capital Markets downgraded shares of Unilever from a “buy” rating to a “hold” rating in a research note on Tuesday. BNP Paribas Exane set a $71.00 price objective on Unilever and gave the company a “neutral” rating in a research report on Thursday, January 8th. Morgan Stanley set a $60.10 price objective on Unilever and gave the stock an “overweight” rating in a research note on Monday, December 15th. UBS Group reaffirmed a “sell” rating on shares of Unilever in a research report on Wednesday, December 10th. Finally, Jefferies Financial Group reiterated an “underperform” rating on shares of Unilever in a report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Unilever has a consensus rating of “Hold” and a consensus price target of $65.55.

Unilever Stock Up 1.7%

NYSE UL opened at $73.25 on Wednesday. Unilever has a 1-year low of $61.78 and a 1-year high of $74.97. The business’s 50-day simple moving average is $67.39 and its 200-day simple moving average is $68.13.

Unilever (NYSE:UL) last posted its quarterly 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 company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $31.39 billion. On average, equities research analysts predict that Unilever will post 3.27 EPS for the current year.

Unilever Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, February 27th will be paid a $0.5547 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.22 annualized dividend and a dividend yield of 3.0%.

Institutional Investors Weigh In On Unilever

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Unilever by 9.3% during the 3rd quarter. Wellington Management Group LLP now owns 34,665,544 shares of the company’s stock valued at $2,054,973,000 after buying an additional 2,935,227 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Unilever by 4.4% in the third quarter. Fisher Asset Management LLC now owns 22,537,917 shares of the company’s stock valued at $1,336,048,000 after acquiring an additional 959,269 shares in the last quarter. Bank of America Corp DE boosted its stake in Unilever by 1.6% during the 3rd quarter. Bank of America Corp DE now owns 5,773,638 shares of the company’s stock valued at $342,261,000 after acquiring an additional 91,049 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Unilever during the 4th quarter worth $268,704,000. Finally, Envestnet Asset Management Inc. grew its holdings in Unilever by 3.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,001,060 shares of the company’s stock worth $237,183,000 after acquiring an additional 133,776 shares in the last quarter. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

Unilever Company 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.