Drive Wealth Management LLC Sells 246 Unilever PLC (NYSE:UL) Shares

Drive Wealth Management LLC lowered its stake in Unilever PLC (NYSE:UL – Free Report) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,767 shares of the company’s stock after selling 246 shares during the quarter. Drive Wealth Management LLC’s holdings in Unilever were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Red Tortoise LLC bought a new stake in Unilever in the first quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in shares of Unilever in the first quarter valued at $28,000. Quent Capital LLC bought a new stake in shares of Unilever in the first quarter valued at $28,000. ST Germain DJ Co. Inc. boosted its stake in Unilever by 423.8% in the second quarter. ST Germain DJ Co. Inc. now owns 529 shares of the company’s stock valued at $29,000 after purchasing an additional 428 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in Unilever in the first quarter worth $30,000. Institutional investors own 9.67% of the company’s shares.

Unilever price performance

Shares of UL stock opened at $64.79 on Monday. The firm has a fifty day moving average price of $59.31 and a 200 day moving average price of $54.22. Unilever PLC has a fifty-two week low of $46.16 and a fifty-two week high of $65.17.

Unilever raises dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be given a $0.4773 dividend. This is a boost from Unilever’s previous quarterly dividend of $0.46. This represents a dividend of $1.91 on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, August 9.

Analysts on Wall Street are forecasting an increase

A number of research firms recently weighed in on UL. TD Cowen initiated coverage on Unilever in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 price objective for the company. Redburn Atlantic upgraded Unilever from a “neutral” rating to a “buy” rating in a research note on Friday, June 7th. StockNews.com upgraded shares of Unilever from a “hold” rating to a “buy” rating in a research report on Saturday, August 3rd. UBS Group upgraded shares of Unilever to a “strong sell” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upgraded shares of Unilever from an “underweight” rating to an “overweight” rating in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Unilever currently has an average rating of “Hold” and an average target price of $61.75.

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About Unilever

(Free report)

Unilever PLC operates as a fast-moving consumer goods company in Asia Pacific, Africa, the Americas and Europe. It operates through five segments: Beauty & Wellness, 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 and wellness products consist of vitamins, minerals and supplements.

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