TD Cowen Has Lowered Expectations for Unilever (NYSE:UL) Stock Price

Key Points

• TD Cowen cut Unilever’s price target from $76 to $74 but maintained a “buy” rating, implying approximately 18.3% upside from the stock’s current price.
• Unilever shares fell 0.6% to $62.58, trading between a 52-week range of $54.75 and $74.97. The stock carries an overall “Hold” consensus rating, with an average price target of $68.37.
• The company’s latest quarterly results missed expectations, reporting $0.59 in earnings per share versus the $1.84 consensus estimate and revenue of $14.62 billion compared with expectations of $14.80 billion.

Unilever (NYSE:UL - Get Free Report) had its target price reduced by equities researchers at TD Cowen from $76.00 to $74.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price target would suggest a potential upside of 18.26% from the company's current price.

Several other research analysts have also commented on the stock. Barclays reaffirmed a "buy" rating on shares of Unilever in a research note on Tuesday, July 7th. DZ Bank reaffirmed a "buy" rating on shares of Unilever in a research note on Wednesday, July 29th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Unilever in a research note on Thursday, September 24th. UBS Group reiterated a "sell" rating on shares of Unilever in a report on Monday, August 3rd. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of Unilever in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Unilever presently has an average rating of "Hold" and an average target price of $68.37.

Unilever Trading Down 0.6%

UL stock traded down $0.38 during midday trading on Tuesday, reaching $62.58. 1,252,606 shares of the company traded hands, compared to its average volume of 4,019,610. Unilever has a 52-week low of $54.75 and a 52-week high of $74.97. The business has a 50 day moving average of $62.78 and a 200-day moving average of $60.35.

Unilever (NYSE:UL - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($1.25). The firm had revenue of $14.62 billion during the quarter, compared to analysts' expectations of $14.80 billion. Research analysts predict that Unilever will post 3.54 earnings per share for the current year.

Institutional Trading of Unilever

A number of hedge funds have recently added to or reduced their stakes in UL. NorthCrest Asset Manangement LLC boosted its holdings in Unilever by 1.5% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 106,064 shares of the company's stock valued at $6,570,000 after purchasing an additional 1,529 shares during the last quarter. GK Wealth Management LLC purchased a new stake in shares of Unilever in the 3rd quarter valued at approximately $104,000. Riversedge Advisors LLC increased its holdings in shares of Unilever by 16.0% during the 3rd quarter. Riversedge Advisors LLC now owns 4,796 shares of the company's stock worth $291,000 after buying an additional 660 shares during the last quarter. Diversified Management Inc. increased its holdings in shares of Unilever by 410.8% during the 3rd quarter. Diversified Management Inc. now owns 32,874 shares of the company's stock worth $1,996,000 after buying an additional 26,438 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Unilever by 20.6% during the 3rd quarter. GAMMA Investing LLC now owns 26,625 shares of the company's stock valued at $1,617,000 after buying an additional 4,548 shares during the period. 9.67% of the stock is owned by hedge funds and other institutional investors.

Unilever Company Profile

Unilever PLC is a global consumer goods company headquartered in London, England. It develops, manufactures and markets branded products across beauty and wellbeing, personal care, home care and nutrition. Its portfolio includes widely recognized brands such as Dove, Vaseline, Axe, Rexona, Cif, Domestos, Knorr, Hellmann's and Magnum, although product availability varies by market.

The company's products are sold through supermarkets, convenience stores, pharmacies, e-commerce platforms and other retail channels in countries around the world.

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