ProVise Management Group LLC Increases Position in Unilever PLC $UL

ProVise Management Group LLC grew its holdings in shares of Unilever PLC (NYSE:UL) by 5.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 205,028 shares of the company’s stock after buying an additional 9,962 shares during the quarter. ProVise Management Group LLC’s holdings in Unilever were worth $12,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UL. Evelyn Partners Asset Management Ltd bought a new position in Unilever in the 2nd quarter valued at $5,403,000. Hsbc Holdings PLC lifted its position in shares of Unilever by 66.1% during the second quarter. Hsbc Holdings PLC now owns 158,788 shares of the company’s stock worth $9,709,000 after purchasing an additional 63,197 shares during the last quarter. Creative Planning lifted its position in shares of Unilever by 12.2% during the second quarter. Creative Planning now owns 463,154 shares of the company’s stock worth $28,331,000 after purchasing an additional 50,224 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Unilever by 59.5% during the second quarter. Coldstream Capital Management Inc. now owns 19,201 shares of the company’s stock valued at $1,174,000 after purchasing an additional 7,159 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Unilever by 10.8% during the second quarter. Russell Investments Group Ltd. now owns 257,052 shares of the company’s stock valued at $15,724,000 after purchasing an additional 24,956 shares during the period. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

Unilever Stock Performance

Unilever stock opened at $66.81 on Monday. The business has a fifty day moving average of $68.57 and a two-hundred day moving average of $68.27. Unilever PLC has a twelve month low of $61.78 and a twelve month high of $74.97.

Unilever (NYSE:UL) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.00). The firm had revenue of $11.87 billion during the quarter, compared to analyst estimates of $31.39 billion. On average, equities analysts forecast that Unilever PLC will post 3.27 EPS for the current fiscal year.

Unilever Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, February 27th will be given a dividend of $0.5547 per share. This represents a $2.22 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, February 27th.

Analysts Set New Price Targets

UL has been the topic of several recent analyst reports. BNP Paribas Exane set a $71.00 price target on shares of Unilever and gave the stock a “neutral” rating in a research note on Thursday, January 8th. UBS Group reissued a “sell” rating on shares of Unilever in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft lowered shares of Unilever from a “buy” rating to a “hold” rating in a research report on Monday, February 9th. Morgan Stanley set a $60.10 price target on Unilever and gave the company an “overweight” rating in a report on Monday, December 15th. Finally, Argus upgraded Unilever to a “strong-buy” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.55.

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.