Unilever (NYSE:UL) Downgraded to Underperform Rating by Royal Bank of Canada

Royal Bank of Canada lowered shares of Unilever (NYSE:UL) from a sector perform rating to an underperform rating in a research note published on Monday morning, Marketbeat Ratings reports.

Several other research analysts have also recently commented on the stock. Erste Group Bank reiterated a “hold” rating on shares of Unilever in a report on Tuesday, November 19th. StockNews.com cut Unilever from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Unilever has an average rating of “Hold” and an average target price of $61.75.

Unilever Price Performance

UL stock opened at $55.47 on Monday. Unilever has a 1 year low of $46.46 and a 1 year high of $65.87. The firm has a market capitalization of $137.45 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.80 and a beta of 0.49. The business’s 50-day moving average is $58.59 and its two-hundred day moving average is $60.36.

Unilever Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $0.4755 dividend. This represents a $1.90 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, November 8th. This is an increase from Unilever’s previous quarterly dividend of $0.35. Unilever’s dividend payout ratio is currently 56.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UL. Fisher Asset Management LLC grew its position in Unilever by 7.1% during the 3rd quarter. Fisher Asset Management LLC now owns 16,726,400 shares of the company’s stock worth $1,086,547,000 after purchasing an additional 1,114,177 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Unilever by 26.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,384,944 shares of the company’s stock worth $241,145,000 after buying an additional 911,443 shares during the period. Saratoga Research & Investment Management grew its holdings in shares of Unilever by 0.8% during the second quarter. Saratoga Research & Investment Management now owns 2,767,207 shares of the company’s stock worth $152,169,000 after buying an additional 22,325 shares during the last quarter. Hamlin Capital Management LLC raised its stake in Unilever by 7.9% during the 3rd quarter. Hamlin Capital Management LLC now owns 2,667,380 shares of the company’s stock valued at $173,273,000 after acquiring an additional 194,165 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Unilever by 981.6% during the 3rd quarter. Jennison Associates LLC now owns 2,076,169 shares of the company’s stock valued at $134,868,000 after acquiring an additional 1,884,216 shares during the last quarter. Hedge funds and other 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.