Unilever (NYSE:UL) Rating Increased to Strong-Buy at Argus

Argus upgraded shares of Unilever (NYSE:UL) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Several other research firms also recently commented on UL. Jefferies Financial Group restated an “underperform” rating on shares of Unilever in a research note on Monday, February 23rd. Morgan Stanley set a $60.10 target price on Unilever and gave the stock an “overweight” rating in a research note on Monday, December 15th. Deutsche Bank Aktiengesellschaft downgraded Unilever from a “buy” rating to a “hold” rating in a report on Monday, February 9th. BNP Paribas Exane set a $71.00 price target on Unilever and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, UBS Group reissued a “sell” rating on shares of Unilever in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.55.

Unilever Price Performance

Shares of UL opened at $69.10 on Monday. Unilever has a 1 year low of $61.78 and a 1 year high of $74.97. The company’s 50-day simple moving average is $68.46 and its 200-day simple moving average is $68.31.

Unilever (NYSE:UL) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.00). The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $31.39 billion. As a group, sell-side analysts anticipate that Unilever will post 3.27 earnings per share for the current fiscal year.

Unilever Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, February 27th will be issued a $0.5547 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 3.2%.

Institutional Investors Weigh In On Unilever

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Unilever by 9.3% during the third quarter. Wellington Management Group LLP now owns 34,665,544 shares of the company’s stock worth $2,054,973,000 after purchasing an additional 2,935,227 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Unilever by 4.4% in the 3rd quarter. Fisher Asset Management LLC now owns 22,537,917 shares of the company’s stock valued at $1,336,048,000 after buying an additional 959,269 shares during the last quarter. Bank of America Corp DE raised its stake in Unilever by 1.6% during the 3rd quarter. Bank of America Corp DE now owns 5,773,638 shares of the company’s stock worth $342,261,000 after acquiring an additional 91,049 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Unilever during the 4th quarter worth $268,704,000. Finally, Envestnet Asset Management Inc. lifted its position in Unilever by 3.5% in the third quarter. Envestnet Asset Management Inc. now owns 4,001,060 shares of the company’s stock valued at $237,183,000 after acquiring an additional 133,776 shares during the last quarter. Hedge funds and other institutional investors own 9.67% of the company’s stock.

About Unilever

Unilever PLC is a global consumer goods company with roots dating back to the early 20th century, formed from the merger of the British firm Lever Brothers and the Dutch company Margarine Unie. The company develops, manufactures and markets a broad portfolio of branded products in personal care, home care and foods and refreshments. Unilever’s corporate structure and listings reflect its long history in both the United Kingdom and the Netherlands, and it operates at scale across diverse consumer markets worldwide.

Unilever’s business is organized around major product categories—Beauty & Personal Care, Home Care and Foods & Refreshment—and includes numerous well-known consumer brands across those categories.