Unilever PLC (NYSE:UL) Sees Large Drop in Short Interest

Unilever PLC (NYSE:UL) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,030,000 shares, a decline of 18.8% from the September 30th total of 2,500,000 shares. Based on an average daily volume of 2,430,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Trading of Unilever

Several large investors have recently modified their holdings of the stock. HF Advisory Group LLC grew its holdings in shares of Unilever by 6.0% during the 3rd quarter. HF Advisory Group LLC now owns 16,831 shares of the company’s stock worth $1,093,000 after purchasing an additional 952 shares in the last quarter. United Advisor Group LLC acquired a new stake in Unilever in the third quarter valued at about $468,000. Greenwood Capital Associates LLC boosted its stake in Unilever by 0.7% in the third quarter. Greenwood Capital Associates LLC now owns 33,959 shares of the company’s stock valued at $2,206,000 after buying an additional 245 shares in the last quarter. PDS Planning Inc boosted its stake in Unilever by 7.6% in the third quarter. PDS Planning Inc now owns 9,338 shares of the company’s stock valued at $607,000 after buying an additional 657 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Unilever by 48.5% in the third quarter. QRG Capital Management Inc. now owns 221,086 shares of the company’s stock valued at $14,362,000 after buying an additional 72,200 shares in the last quarter. 9.67% of the stock is owned by institutional investors and hedge funds.

Unilever Stock Down 1.1 %

UL stock traded down $0.68 during trading hours on Wednesday, hitting $61.61. 1,542,474 shares of the stock were exchanged, compared to its average volume of 2,610,553. The company has a 50-day simple moving average of $63.84 and a two-hundred day simple moving average of $58.49. Unilever has a 12 month low of $46.46 and a 12 month high of $65.87.

Unilever Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.4755 per share. 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 3.09%. The ex-dividend date is Friday, November 8th.

Analysts Set New Price Targets

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

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.