Unilever (NYSE:UL) Shares Gap Up to $48.07

Unilever PLC (NYSE:UL)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $48.07, but opened at $50.57. Unilever shares last traded at $50.57, with a volume of 1,999,683 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UL shares. Morgan Stanley downgraded shares of Unilever from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $52.00 to $48.00 in a report on Tuesday, February 27th. StockNews.com downgraded shares of Unilever from a “buy” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Unilever has an average rating of “Hold” and a consensus price target of $48.00.

Unilever Stock Performance

The firm’s 50-day moving average is $49.08 and its 200-day 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 paid a dividend of $0.4582 per share. This represents a $1.83 annualized dividend and a yield of 3.60%. The ex-dividend date was Thursday, February 22nd.

Institutional Investors Weigh In On Unilever

Hedge funds have recently bought and sold shares of the business. Aaron Wealth Advisors LLC lifted its stake in shares of Unilever by 102.8% in the first quarter. Aaron Wealth Advisors LLC now owns 13,115 shares of the company’s stock worth $658,000 after buying an additional 6,648 shares in the last quarter. Long Run Wealth Advisors LLC lifted its stake in shares of Unilever by 3.2% in the first quarter. Long Run Wealth Advisors LLC now owns 21,465 shares of the company’s stock worth $1,077,000 after buying an additional 661 shares in the last quarter. Keene & Associates Inc. lifted its stake in shares of Unilever by 3.2% in the first quarter. Keene & Associates Inc. now owns 65,479 shares of the company’s stock worth $3,286,000 after buying an additional 2,060 shares in the last quarter. 1900 Wealth Management LLC bought a new position in shares of Unilever in the first quarter worth approximately $325,000. Finally, Berkshire Bank lifted its stake in shares of Unilever by 4.9% in the first quarter. Berkshire Bank now owns 62,404 shares of the company’s stock worth $3,132,000 after buying an additional 2,912 shares in the last quarter. Institutional investors own 9.67% of the company’s stock.

About Unilever

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.