Unilever (UN) Shares Gap Up Following Dividend Announcement
Unilever NV (NYSE:UN) gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $50.70, but opened at $52.70. Unilever shares last traded at $54.61, with a volume of 3182891 shares trading hands.
The newly announced dividend which will be paid on Wednesday, December 5th. Investors of record on Friday, November 2nd will be issued a $0.4487 dividend. This represents a $1.79 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, November 1st. Unilever’s dividend payout ratio is currently 60.87%.
Several analysts have commented on the stock. Jefferies Financial Group cut shares of Unilever from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Unilever from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Unilever in a research note on Wednesday, August 1st. Argus boosted their price target on shares of Unilever to $65.00 and gave the stock an “average” rating in a research note on Tuesday, August 21st. Finally, Deutsche Bank reiterated a “buy” rating on shares of Unilever in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Unilever presently has an average rating of “Hold” and an average target price of $65.00.
Unilever (NYSE:UN) last announced its quarterly earnings results on Thursday, July 19th. The company reported $1.33 EPS for the quarter, hitting the consensus estimate of $1.33. On average, research analysts forecast that Unilever NV will post 2.63 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. Morgan Stanley raised its position in shares of Unilever by 1.0% during the 2nd quarter. Morgan Stanley now owns 1,167,013 shares of the company’s stock valued at $65,027,000 after buying an additional 11,231 shares in the last quarter. Bank of New York Mellon Corp raised its position in Unilever by 7.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 679,144 shares of the company’s stock worth $37,842,000 after purchasing an additional 47,409 shares during the period. Ronna Sue Cohen raised its position in Unilever by 5.2% in the 3rd quarter. Ronna Sue Cohen now owns 52,850 shares of the company’s stock worth $2,936,000 after purchasing an additional 2,625 shares during the period. Northstar Group Inc. purchased a new stake in Unilever in the 2nd quarter worth about $1,168,000. Finally, Capital Fund Management S.A. purchased a new stake in Unilever in the 2nd quarter worth about $6,992,000. Institutional investors and hedge funds own 8.36% of the company’s stock.
About Unilever (NYSE:UN)
Unilever N.V. operates in the fast-moving consumer goods industry worldwide. The company operates through Personal Care, Home Care, Foods, and Refreshment segments. The Personal Care segment offers skincare and haircare products, deodorants, and oral care products. This segment markets its products under the Axe, Dove, Lux, Rexona, Sunsilk, TRESemmé, Signal, Lifebuoy, Vaseline, Dermalogica, Murad, Dollar Shave Club, Zest & Camay, and Seventh Generation brands.
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