Unilever (NYSE:UL) Shares Gap Up – Here’s What Happened

Unilever PLC (NYSE:UL) 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 changing hands.

Analysts Set New Price Targets

UL has been the subject of several recent analyst reports. Royal Bank of Canada downgraded shares of Unilever from a “sector perform” rating to an “underperform” rating in a research note on Monday, January 6th. Erste Group Bank reissued a “hold” rating on shares of Unilever in a research note on Tuesday, November 19th. DZ Bank raised shares of Unilever from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Sanford C. Bernstein raised shares of Unilever from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 9th. Finally, StockNews.com raised shares of Unilever from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.33.

Unilever Stock Down 1.6 %

The firm’s 50-day moving average price is $56.82 and its 200 day moving average price is $59.77. The company has a market capitalization of $147.21 billion, a P/E ratio of 17.00, a P/E/G ratio of 1.60 and a beta of 0.47.

Unilever Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.4674 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Friday, February 28th. Unilever’s payout ratio is 53.01%.

Institutional Investors Weigh In On Unilever

A number of institutional investors have recently added to or reduced their stakes in UL. Golden State Wealth Management LLC purchased a new stake in shares of Unilever during the 4th quarter valued at approximately $26,000. Financial Life Planners purchased a new position in Unilever in the 4th quarter worth $28,000. VSM Wealth Advisory LLC purchased a new position in shares of Unilever in the fourth quarter valued at about $28,000. Roxbury Financial LLC purchased a new position in shares of Unilever in the fourth quarter valued at about $30,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Unilever during the fourth quarter valued at about $30,000. 9.67% of the stock is owned by 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.