Parsons Capital Management Inc. RI Lowers Stock Holdings in Unilever PLC (NYSE:UL)

Parsons Capital Management Inc. RI lowered its holdings in shares of Unilever PLC (NYSE:UL) by 10.7% during the first quarter, HoldingsChannel.com reports. The firm owned 8,369 shares of the company’s stock after selling 1,005 shares during the period. Parsons Capital Management Inc. RI’s holdings in Unilever were worth $420,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Barrett & Company Inc. boosted its position in Unilever by 51.5% during the third quarter. Barrett & Company Inc. now owns 606 shares of the company’s stock worth $30,000 after purchasing an additional 206 shares in the last quarter. Sage Rhino Capital LLC boosted its position in Unilever by 2.4% during the third quarter. Sage Rhino Capital LLC now owns 9,066 shares of the company’s stock worth $448,000 after purchasing an additional 215 shares in the last quarter. Marino Stram & Associates LLC boosted its position in Unilever by 2.2% during the fourth quarter. Marino Stram & Associates LLC now owns 9,963 shares of the company’s stock worth $483,000 after purchasing an additional 215 shares in the last quarter. Pine Haven Investment Counsel Inc boosted its position in Unilever by 3.7% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 6,133 shares of the company’s stock worth $297,000 after purchasing an additional 216 shares in the last quarter. Finally, Avidian Wealth Solutions LLC lifted its position in shares of Unilever by 1.0% in the fourth quarter. Avidian Wealth Solutions LLC now owns 21,616 shares of the company’s stock valued at $1,048,000 after acquiring an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 9.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on UL shares. StockNews.com downgraded Unilever from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Morgan Stanley downgraded Unilever from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $52.00 to $48.00 in a research report on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Unilever has a consensus rating of “Hold” and an average price target of $48.00.

Unilever Stock Performance

Shares of NYSE UL traded up $0.32 during midday trading on Friday, hitting $51.24. The stock had a trading volume of 4,278,463 shares, compared to its average volume of 3,049,528. The stock has a 50 day simple moving average of $49.11 and a 200-day simple moving average of $48.56. Unilever PLC has a 1 year low of $46.16 and a 1 year high of $55.99.

Unilever Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.4556 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.82 dividend on an annualized basis and a yield of 3.56%.

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.