Spinnaker Trust Sells 250 Shares of Unilever PLC (NYSE:UL)

Spinnaker Trust cut its stake in Unilever PLC (NYSE:UL) by 2.9% in the third quarter, HoldingsChannel reports. The fund owned 8,485 shares of the company’s stock after selling 250 shares during the period. Spinnaker Trust’s holdings in Unilever were worth $551,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. American Capital Advisory LLC increased its stake in shares of Unilever by 2,122.4% in the 3rd quarter. American Capital Advisory LLC now owns 23,446 shares of the company’s stock valued at $1,523,000 after buying an additional 22,391 shares during the period. Maia Wealth LLC bought a new position in Unilever in the third quarter valued at about $224,000. Radnor Capital Management LLC acquired a new stake in Unilever in the third quarter worth about $1,388,000. Catalina Capital Group LLC bought a new stake in Unilever during the 3rd quarter worth about $200,000. Finally, Marks Group Wealth Management Inc lifted its position in Unilever by 18.1% during the 3rd quarter. Marks Group Wealth Management Inc now owns 17,120 shares of the company’s stock valued at $1,112,000 after purchasing an additional 2,627 shares during the period. 9.67% of the stock is currently owned by institutional investors and hedge funds.

Unilever Stock Performance

UL opened at $59.27 on Thursday. Unilever PLC has a 12 month low of $46.46 and a 12 month high of $65.87. The company has a fifty day simple moving average of $63.56 and a 200 day simple moving average of $59.00.

Unilever Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a $0.4755 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from Unilever’s previous quarterly dividend of $0.35. This represents a $1.90 annualized dividend and a dividend yield of 3.21%.

Wall Street Analyst Weigh In

UL has been the subject of several analyst reports. Bank of America upgraded shares of Unilever from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $72.00 in a research report on Thursday, August 22nd. TD Cowen started coverage on shares of Unilever in a research report on Tuesday, July 23rd. They set a “buy” rating and a $67.00 target price for the company. UBS Group raised Unilever to a “strong sell” rating in a research note on Tuesday, July 30th. Finally, StockNews.com raised Unilever from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.75.

Unilever 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.