Unilever (NYSE:UL) Shares Gap Up to $48.07

Shares of Unilever PLC (NYSE:UL) gapped up before the market opened on Thursday . The stock had previously closed at $48.07, but opened at $50.57. Unilever shares last traded at $50.57, with a volume of 1,999,683 shares trading hands.

Wall Street Analyst Weigh In

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

Unilever Stock Performance

The business’s 50 day moving average is $49.11 and its two-hundred day moving average is $48.56.

Unilever Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $0.4556 dividend. This represents a $1.82 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, May 16th.

Institutional Investors Weigh In On Unilever

Several hedge funds and other institutional investors have recently bought and sold shares of UL. Boston Trust Walden Corp grew its holdings in shares of Unilever by 5.6% during the third quarter. Boston Trust Walden Corp now owns 9,505 shares of the company’s stock valued at $470,000 after buying an additional 500 shares during the last quarter. Simplicity Solutions LLC grew its holdings in shares of Unilever by 1.6% during the third quarter. Simplicity Solutions LLC now owns 40,956 shares of the company’s stock valued at $2,023,000 after buying an additional 631 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Unilever by 28.1% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 8,076 shares of the company’s stock valued at $399,000 after buying an additional 1,774 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Unilever by 7.8% during the third quarter. Ballentine Partners LLC now owns 13,477 shares of the company’s stock valued at $666,000 after buying an additional 975 shares during the last quarter. Finally, First Personal Financial Services grew its holdings in shares of Unilever by 3.6% during the third quarter. First Personal Financial Services now owns 195,308 shares of the company’s stock valued at $9,648,000 after buying an additional 6,768 shares during the last quarter. 9.67% of the stock is owned by institutional investors.

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.