Unilever NV (UN) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Unilever NV (NYSE:UN) from a buy rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “Unilever is one of the world’s largest consumer products companies. They produce and market a wide range of foods, home and personal care products. Their leading brands include Dove, Lipton, Magnum, Omo and Rama. They are the number one producer of frozen foods in Europe, They are also a leader in the branded olive oil category the most important brand being Bertolli. They are the largest seller of packet tea in the world through our Lipton and Brooke Bond brands. “
Several other equities analysts have also recently weighed in on the company. BidaskClub upgraded Unilever NV from a hold rating to a buy rating in a research report on Thursday, July 13th. J P Morgan Chase & Co reiterated a neutral rating on shares of Unilever NV in a research report on Thursday, September 7th. UBS AG reiterated a neutral rating on shares of Unilever NV in a research report on Monday, July 17th. Finally, Royal Bank Of Canada cut Unilever NV from a sector perform rating to an underperform rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $65.00.
Shares of Unilever NV (NYSE:UN) opened at 59.04 on Wednesday. The company has a market capitalization of $166.05 billion, a P/E ratio of 24.21 and a beta of 0.90. The stock’s 50 day moving average price is $59.20 and its 200-day moving average price is $55.04. Unilever NV has a 52-week low of $38.41 and a 52-week high of $60.90.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Friday, August 4th were given a $0.352 dividend. This represents a $1.41 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Wednesday, August 2nd.
Several hedge funds and other institutional investors have recently made changes to their positions in UN. BlackRock Inc. grew its position in shares of Unilever NV by 416,585.0% in the first quarter. BlackRock Inc. now owns 9,167,071 shares of the company’s stock valued at $455,420,000 after purchasing an additional 9,164,871 shares in the last quarter. FMR LLC boosted its stake in Unilever NV by 297.2% during the first quarter. FMR LLC now owns 11,804,556 shares of the company’s stock valued at $586,450,000 after buying an additional 8,832,563 shares during the period. Wellington Management Group LLP boosted its stake in Unilever NV by 22.6% during the first quarter. Wellington Management Group LLP now owns 21,933,059 shares of the company’s stock valued at $1,089,635,000 after buying an additional 4,042,634 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in Unilever NV by 9,088.7% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 1,411,193 shares of the company’s stock valued at $70,208,000 after buying an additional 1,395,835 shares during the period. Finally, United States Steel & Carnegie Pension Fund bought a new stake in Unilever NV during the first quarter valued at $42,782,000. Institutional investors own 8.97% of the company’s stock.
About Unilever NV
Unilever N.V. 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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