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

Unilever PLC (NYSE:UL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $59.14, but opened at $55.33. Unilever shares last traded at $55.60, with a volume of 3,189,160 shares changing hands.

Analyst Upgrades and Downgrades

UL has been the topic of several research analyst reports. StockNews.com cut shares of Unilever from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada cut shares of Unilever from a “sector perform” rating to an “underperform” rating in a research report on Monday, January 6th. Erste Group Bank reaffirmed a “hold” rating on shares of Unilever in a research report on Tuesday, November 19th. Finally, Sanford C. Bernstein raised shares of Unilever from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.75.

Unilever Stock Down 1.9 %

The stock’s fifty day simple moving average is $57.21 and its 200-day simple moving average is $60.35.

Unilever Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.4674 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.87 dividend on an annualized basis and a yield of 3.41%.

Institutional Investors Weigh In On Unilever

A number of hedge funds have recently made changes to their positions in the business. Parvin Asset Management LLC bought a new stake in shares of Unilever during the fourth quarter valued at approximately $192,000. Guardian Capital LP raised its holdings in shares of Unilever by 1.1% during the fourth quarter. Guardian Capital LP now owns 151,115 shares of the company’s stock valued at $8,568,000 after buying an additional 1,653 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Unilever by 3.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 7,664 shares of the company’s stock valued at $434,000 after buying an additional 262 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Unilever by 75.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 96,600 shares of the company’s stock valued at $5,477,000 after buying an additional 41,500 shares during the last quarter. Finally, Capstone Financial Advisors Inc. raised its holdings in shares of Unilever by 0.8% during the fourth quarter. Capstone Financial Advisors Inc. now owns 25,882 shares of the company’s stock valued at $1,467,000 after buying an additional 209 shares during the last quarter. Institutional investors 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.