Unilever (NYSE:UL) Given New $60.00 Price Target at Argus

Unilever (NYSE:UL) had its target price raised by Argus from $58.00 to $60.00 in a report published on Wednesday morning, Benzinga reports. Argus currently has a buy rating on the stock.

A number of other research firms also recently issued reports on UL. Morgan Stanley downgraded shares of Unilever from an equal weight rating to an underweight rating and dropped their price objective for the stock from $52.00 to $48.00 in a report on Tuesday, February 27th. StockNews.com raised shares of Unilever from a hold rating to a buy rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $54.00.

Unilever Stock Performance

Shares of NYSE UL traded up $0.73 during mid-day trading on Wednesday, reaching $53.42. 4,055,211 shares of the company were exchanged, compared to its average volume of 2,930,902. Unilever has a 52 week low of $46.16 and a 52 week high of $54.38. The company’s 50 day moving average price is $49.37 and its 200 day moving average price is $48.78.

Unilever Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $0.4556 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Thursday, May 16th.

Hedge Funds Weigh In On Unilever

A number of large investors have recently added to or reduced their stakes in UL. ProVise Management Group LLC increased its position in shares of Unilever by 7.5% during the first quarter. ProVise Management Group LLC now owns 155,441 shares of the company’s stock valued at $7,802,000 after buying an additional 10,902 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Unilever by 12.6% during the first quarter. Orion Portfolio Solutions LLC now owns 153,137 shares of the company’s stock valued at $7,686,000 after buying an additional 17,094 shares during the period. First Eagle Investment Management LLC increased its position in shares of Unilever by 11.8% during the first quarter. First Eagle Investment Management LLC now owns 475,174 shares of the company’s stock valued at $23,849,000 after buying an additional 50,052 shares during the period. Portland Global Advisors LLC increased its position in shares of Unilever by 0.3% during the first quarter. Portland Global Advisors LLC now owns 104,485 shares of the company’s stock valued at $5,244,000 after buying an additional 330 shares during the period. Finally, Eagle Bay Advisors LLC increased its position in shares of Unilever by 126.6% during the first quarter. Eagle Bay Advisors LLC now owns 5,730 shares of the company’s stock valued at $288,000 after buying an additional 3,201 shares during the period. Hedge funds and other institutional investors own 9.67% of the company’s stock.

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.