Unilever (NYSE:UL) Shares Gap Up – Here’s Why

Unilever PLC (NYSE:UL) shares gapped up before the market opened on Thursday . The stock had previously closed at $59.86, but opened at $62.35. Unilever shares last traded at $62.47, with a volume of 1,200,873 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. DZ Bank upgraded shares of Unilever from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Sanford C. Bernstein raised Unilever from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 9th. Royal Bank of Canada lowered Unilever from a “sector perform” rating to an “underperform” rating in a report on Monday, January 6th. Finally, StockNews.com raised Unilever from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Unilever currently has an average rating of “Moderate Buy” and an average target price of $66.33.

Unilever Stock Up 4.9 %

The stock has a 50-day simple moving average of $57.82 and a 200 day simple moving average of $59.14. The company has a market cap of $155.57 billion, a PE ratio of 17.99, a P/E/G ratio of 1.60 and a beta of 0.42.

Unilever Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were issued a $0.4674 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.87 annualized dividend and a yield of 2.98%. Unilever’s dividend payout ratio (DPR) is presently 53.01%.

Institutional Trading of Unilever

Several hedge funds have recently made changes to their positions in UL. Golden State Wealth Management LLC acquired a new stake in Unilever during the 4th quarter worth approximately $26,000. Financial Life Planners acquired a new stake in shares of Unilever in the fourth quarter valued at $28,000. VSM Wealth Advisory LLC purchased a new stake in Unilever during the 4th quarter worth about $28,000. Roxbury Financial LLC acquired a new stake in Unilever in the 4th quarter valued at about $30,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Unilever in the 4th quarter valued at about $30,000. Institutional investors and hedge funds 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.