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

Shares of Unilever PLC (NYSE:UL) gapped up prior to trading on Thursday . The stock had previously closed at $59.86, but opened at $62.35. Unilever shares last traded at $62.47, with a volume of 1,200,873 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on UL shares. DZ Bank upgraded shares of Unilever from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. StockNews.com raised Unilever from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Sanford C. Bernstein raised Unilever from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 9th. Finally, Royal Bank of Canada downgraded Unilever from a “sector perform” rating to an “underperform” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

Unilever Trading Down 3.8 %

The stock has a fifty day moving average of $58.01 and a two-hundred day moving average of $59.12. The stock has a market capitalization of $149.04 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.60 and a beta of 0.42.

Unilever Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were issued a $0.4674 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 3.11%. Unilever’s dividend payout ratio is 53.01%.

Institutional Investors Weigh In On Unilever

Hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in shares of Unilever in the fourth quarter worth about $26,000. Financial Life Planners bought a new stake in shares of Unilever in the fourth quarter worth $28,000. VSM Wealth Advisory LLC bought a new stake in Unilever during the 4th quarter worth about $28,000. Roxbury Financial LLC bought a new stake in Unilever during the fourth quarter worth about $30,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Unilever in the 4th quarter valued at approximately $30,000. Institutional investors own 9.67% of the company’s stock.

About Unilever

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.