Unilever PLC (NYSE:UL) Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. trimmed its stake in shares of Unilever PLC (NYSE:UL) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 81,540 shares of the company’s stock after selling 325 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Unilever were worth $3,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in UL. FMR LLC grew its position in Unilever by 6.4% in the 3rd quarter. FMR LLC now owns 8,548,447 shares of the company’s stock worth $422,293,000 after purchasing an additional 515,088 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Unilever by 35.3% during the third quarter. Envestnet Asset Management Inc. now owns 4,748,095 shares of the company’s stock valued at $234,556,000 after buying an additional 1,238,734 shares in the last quarter. Royal Bank of Canada raised its position in Unilever by 1.8% in the third quarter. Royal Bank of Canada now owns 3,819,083 shares of the company’s stock worth $188,664,000 after acquiring an additional 67,190 shares in the last quarter. Raymond James & Associates lifted its holdings in Unilever by 2.1% in the 3rd quarter. Raymond James & Associates now owns 3,454,530 shares of the company’s stock valued at $170,654,000 after acquiring an additional 72,277 shares during the last quarter. Finally, Manning & Napier Group LLC grew its stake in shares of Unilever by 1.4% in the 4th quarter. Manning & Napier Group LLC now owns 3,332,954 shares of the company’s stock worth $161,582,000 after purchasing an additional 47,256 shares during the last quarter. Institutional investors own 9.67% of the company’s stock.

Unilever Stock Up 0.1 %

Shares of Unilever stock traded up $0.04 during midday trading on Wednesday, reaching $48.02. 1,686,503 shares of the company’s stock traded hands, compared to its average volume of 2,805,102. Unilever PLC has a 52 week low of $46.16 and a 52 week high of $55.99. The company’s 50 day simple moving average is $49.12 and its 200 day simple moving average is $48.52.

Unilever Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a dividend of $0.4582 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.83 annualized dividend and a dividend yield of 3.82%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on UL. StockNews.com lowered shares of Unilever from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley lowered Unilever from an “equal weight” rating to an “underweight” rating and decreased their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat, Unilever currently has a consensus rating of “Hold” and an average price target of $48.00.

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.