295,869 Unilever PLC $UL Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Unilever stake by 6.5%, selling 295,869 shares during the second quarter. It still held 4.22 million shares worth approximately $253.9 million, representing a 0.20% ownership stake.
• Analyst sentiment is mixed, with Unilever carrying an overall “Hold” rating and an average price target of $65.55. Ratings range from Strong Buy to Sell.
• Unilever shares opened at $62.20, while the company’s latest quarterly results fell short of expectations: earnings were $0.59 per share versus the $1.84 consensus estimate, and revenue was $14.62 billion compared with $14.80 billion expected.

Envestnet Asset Management Inc. lessened its stake in Unilever PLC (NYSE:UL - Free Report) by 6.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,223,732 shares of the company's stock after selling 295,869 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of Unilever worth $253,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Blake Schutter Theil Wealth Advisors LLC increased its position in shares of Unilever by 3.2% during the first quarter. Blake Schutter Theil Wealth Advisors LLC now owns 5,754 shares of the company's stock valued at $328,000 after acquiring an additional 180 shares in the last quarter. Capital Analysts LLC raised its position in Unilever by 5.3% in the 2nd quarter. Capital Analysts LLC now owns 3,748 shares of the company's stock worth $225,000 after buying an additional 187 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in Unilever by 3.1% during the 2nd quarter. HBK Sorce Advisory LLC now owns 6,191 shares of the company's stock valued at $399,000 after acquiring an additional 187 shares during the period. Cohen Investment Advisors LLC lifted its stake in Unilever by 2.9% during the 1st quarter. Cohen Investment Advisors LLC now owns 6,753 shares of the company's stock valued at $385,000 after acquiring an additional 192 shares during the period. Finally, Spinnaker Trust boosted its holdings in shares of Unilever by 2.6% during the 2nd quarter. Spinnaker Trust now owns 8,106 shares of the company's stock valued at $487,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 9.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on UL. TD Cowen reiterated a "buy" rating on shares of Unilever in a research report on Wednesday, July 29th. Jefferies Financial Group reissued an "underperform" rating on shares of Unilever in a research report on Monday, July 6th. Zacks Research upgraded Unilever from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Unilever from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $65.55.

Unilever Stock Up 0.1%

NYSE UL opened at $62.20 on Friday. Unilever PLC has a 52 week low of $54.75 and a 52 week high of $74.97. The stock's 50-day moving average price is $63.18 and its 200-day moving average price is $60.55.

Unilever (NYSE:UL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($1.25). The company had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $14.80 billion. On average, research analysts anticipate that Unilever PLC will post 3.53 EPS for the current fiscal year.

Unilever Profile

Unilever PLC is a global consumer goods company that develops, markets and sells products across beauty and wellbeing, personal care, home care and foods. Its portfolio includes well-known brands such as Dove, Vaseline, Axe, TRESemmé, Sunsilk, Hellmann's, Knorr, Cif, Domestos and OMO or Persil, depending on the market.

The company serves consumers in markets around the world, with products distributed through retail stores, e-commerce platforms and other channels. Its offerings include skin and hair care, deodorants, oral care, household cleaning products, dressings, condiments, soups and cooking products.

Unilever was created in 1929 through the combination of Margarine Unie, a Dutch margarine producer, and Lever Brothers, a British soap maker.

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