Parsons Capital Management Inc. RI Trims Stock Holdings in Unilever PLC (NYSE:UL)

Parsons Capital Management Inc. RI trimmed its position in Unilever PLC (NYSE:UL) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,369 shares of the company’s stock after selling 1,005 shares during the period. Parsons Capital Management Inc. RI’s holdings in Unilever were worth $420,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Barrett & Company Inc. increased its holdings in shares of Unilever by 51.5% during the third quarter. Barrett & Company Inc. now owns 606 shares of the company’s stock valued at $30,000 after acquiring an additional 206 shares in the last quarter. Sage Rhino Capital LLC increased its holdings in shares of Unilever by 2.4% during the third quarter. Sage Rhino Capital LLC now owns 9,066 shares of the company’s stock valued at $448,000 after acquiring an additional 215 shares in the last quarter. Marino Stram & Associates LLC increased its holdings in shares of Unilever by 2.2% during the fourth quarter. Marino Stram & Associates LLC now owns 9,963 shares of the company’s stock valued at $483,000 after acquiring an additional 215 shares in the last quarter. Pine Haven Investment Counsel Inc increased its holdings in shares of Unilever by 3.7% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 6,133 shares of the company’s stock valued at $297,000 after acquiring an additional 216 shares in the last quarter. Finally, Avidian Wealth Solutions LLC increased its holdings in shares of Unilever by 1.0% during the fourth quarter. Avidian Wealth Solutions LLC now owns 21,616 shares of the company’s stock valued at $1,048,000 after acquiring an additional 216 shares in the last quarter. 9.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on UL. Morgan Stanley downgraded Unilever from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $52.00 to $48.00 in a report on Tuesday, February 27th. StockNews.com downgraded Unilever from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.00.

Unilever Price Performance

NYSE UL traded up $0.32 during trading hours on Friday, hitting $51.24. The company’s stock had a trading volume of 4,278,463 shares, compared to its average volume of 3,049,528. Unilever PLC has a 12 month low of $46.16 and a 12 month high of $55.99. The company’s 50 day simple moving average is $49.11 and its two-hundred day simple moving average is $48.56.

Unilever Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.4556 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.82 annualized dividend and a yield of 3.56%.

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.