Unilever (UN) Upgraded at Zacks Investment Research
Unilever (NYSE:UN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $51.00 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.71% from the stock’s previous close.
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. “
A number of other brokerages have also commented on UN. Sanford C. Bernstein reissued an “outperform” rating on shares of Unilever in a report on Monday, August 22nd. RBC Capital Markets lowered shares of Unilever from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 22nd. Royal Bank Of Canada lowered shares of Unilever from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 22nd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Unilever in a research note on Thursday, September 1st. Finally, Citigroup Inc. raised shares of Unilever from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $41.00.
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Shares of Unilever (NYSE:UN) traded down 0.29% on Tuesday, reaching $45.25. 1,281,186 shares of the company were exchanged. Unilever has a 12 month low of $37.92 and a 12 month high of $48.00. The stock has a 50 day moving average price of $46.14 and a 200-day moving average price of $45.26. The stock has a market capitalization of $128.46 billion, a P/E ratio of 23.31 and a beta of 0.76.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Friday, August 5th were given a $0.3531 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 3.12%. This is an increase from Unilever’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, August 3rd.
Hedge funds have recently made changes to their positions in the stock. BlackRock Japan Co. Ltd purchased a new stake in shares of Unilever during the second quarter worth $104,000. Capital International Inc. CA bought a new stake in shares of Unilever during the second quarter valued at approximately $122,000. Ledyard National Bank increased its stake in shares of Unilever by 88.5% in the second quarter. Ledyard National Bank now owns 3,547 shares of the company’s stock valued at $166,000 after buying an additional 1,665 shares during the period. First Interstate Bank increased its stake in shares of Unilever by 26.1% in the second quarter. First Interstate Bank now owns 3,625 shares of the company’s stock valued at $170,000 after buying an additional 750 shares during the period. Finally, Physicians Financial Services Inc. increased its stake in shares of Unilever by 13.4% in the second quarter. Physicians Financial Services Inc. now owns 3,729 shares of the company’s stock valued at $175,000 after buying an additional 440 shares during the period.
Unilever Company Profile
Unilever N.V. is a fast moving consumer goods company. The Company operates through four segments: Personal Care, Foods, Home Care and Refreshment. Its Personal Care segment includes sales of skin care and hair care products, deodorants and oral care products. Its Foods segment includes sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads.
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