Acumen Wealth Advisors LLC Sells 53,575 Shares of Unilever PLC $UL

Key Points

• Acumen Wealth Advisors cut its Unilever stake by 94.2% in the second quarter, selling 53,575 shares and retaining 3,288 shares valued at approximately $198,000.
• Other institutional investors generally increased their positions, while hedge funds and institutional investors collectively owned 9.67% of Unilever’s stock.
• Analysts have a consensus “Hold” rating with a $65.55 target price. Unilever opened at $62.12 after reporting quarterly EPS of $0.92, below the $1.84 consensus estimate, and revenue of $14.62 billion.

Acumen Wealth Advisors LLC trimmed its position in Unilever PLC (NYSE:UL - Free Report) by 94.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,288 shares of the company's stock after selling 53,575 shares during the period. Acumen Wealth Advisors LLC's holdings in Unilever were worth $198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of UL. Everstar Asset Management LLC increased its stake in shares of Unilever by 23.8% in the 2nd quarter. Everstar Asset Management LLC now owns 17,444 shares of the company's stock valued at $1,049,000 after purchasing an additional 3,354 shares in the last quarter. Everett Harris & Co. CA boosted its position in Unilever by 0.8% during the second quarter. Everett Harris & Co. CA now owns 1,418,743 shares of the company's stock worth $85,295,000 after purchasing an additional 11,222 shares in the last quarter. ProVise Management Group LLC boosted its position in Unilever by 0.8% during the second quarter. ProVise Management Group LLC now owns 207,550 shares of the company's stock worth $12,478,000 after purchasing an additional 1,644 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Unilever by 1.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 630,098 shares of the company's stock valued at $37,881,000 after purchasing an additional 7,867 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. grew its holdings in Unilever by 4.5% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 138,103 shares of the company's stock valued at $8,303,000 after purchasing an additional 5,949 shares during the period. Hedge funds and other institutional investors own 9.67% of the company's stock.

Wall Street Analyst Weigh In

UL has been the subject of several research analyst reports. Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research report on Monday, July 6th. Royal Bank Of Canada upgraded shares of Unilever from an "underperform" rating to a "sector perform" rating in a report on Tuesday, April 21st. TD Cowen reaffirmed a "buy" rating on shares of Unilever in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Unilever from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Unilever from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $65.55.

Unilever Trading Down 0.9%

NYSE:UL opened at $62.12 on Friday. The firm's fifty day moving average price is $61.28 and its 200 day moving average price is $62.20. Unilever PLC has a 1-year low of $54.75 and a 1-year high of $74.97.

Unilever (NYSE:UL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.92). The business had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $14.80 billion. Research analysts expect that Unilever PLC will post 3.51 EPS for the current year.

Unilever Company Profile

Unilever PLC is a global consumer goods company with roots dating back to the early 20th century, formed from the merger of the British firm Lever Brothers and the Dutch company Margarine Unie. The company develops, manufactures and markets a broad portfolio of branded products in personal care, home care and foods and refreshments. Unilever's corporate structure and listings reflect its long history in both the United Kingdom and the Netherlands, and it operates at scale across diverse consumer markets worldwide.

Unilever's business is organized around major product categories—Beauty & Personal Care, Home Care and Foods & Refreshment—and includes numerous well-known consumer brands across those categories.

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