Progressive Investment Management Corp Grows Holdings in Unilever plc (UL)
Progressive Investment Management Corp raised its position in shares of Unilever plc (NYSE:UL) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,463 shares of the company’s stock after purchasing an additional 1,261 shares during the period. Unilever makes up approximately 2.0% of Progressive Investment Management Corp’s holdings, making the stock its 29th largest holding. Progressive Investment Management Corp’s holdings in Unilever were worth $3,014,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new position in shares of Unilever in the third quarter worth about $122,000. Fieldpoint Private Securities LLC purchased a new position in shares of Unilever in the third quarter worth about $135,000. YorkBridge Wealth Partners LLC increased its holdings in shares of Unilever by 22.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 3,383 shares of the company’s stock worth $182,000 after buying an additional 613 shares during the period. Segment Wealth Management LLC purchased a new position in shares of Unilever in the third quarter worth about $201,000. Finally, Cable Hill Partners LLC increased its holdings in shares of Unilever by 6,866.0% in the third quarter. Cable Hill Partners LLC now owns 3,483 shares of the company’s stock worth $202,000 after buying an additional 3,433 shares during the period. Institutional investors and hedge funds own 7.09% of the company’s stock.
Several research analysts have recently commented on UL shares. Zacks Investment Research upgraded Unilever from a “sell” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Wednesday, December 13th. Argus assumed coverage on Unilever in a report on Friday, November 17th. They set a “hold” rating on the stock. Morgan Stanley restated a “neutral” rating on shares of Unilever in a report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Unilever in a report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.50.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Friday, November 3rd were issued a dividend of $0.4217 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, November 2nd. This is an increase from Unilever’s previous quarterly dividend of $0.41. Unilever’s payout ratio is currently 68.44%.
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Unilever PLC is a fast-moving consumer goods (FMCG) company. The Company’s segments include Personal Care, which primarily includes sales of skin care and hair care products, deodorants and oral care products; Foods, which primarily includes sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads; Home Care, which primarily includes sales of home care products, such as powders, liquids and capsules, soap bars and a range of cleaning products, and Refreshment, which primarily includes sales of ice cream and tea-based beverages.
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