Bank of New York Mellon Corp Purchases 56,138 Shares of Unilever PLC $UL

Key Points

• Bank of New York Mellon Corp increased its Unilever stake by 7.1% in the first quarter, buying 56,138 additional shares and bringing its total holdings to 843,228 shares worth about $48.0 million.
• Several other institutional investors also added to or initiated positions in Unilever, and hedge funds and institutions now own 9.67% of the company’s stock.
• Analyst sentiment is mixed: Unilever has a consensus rating of Hold with an average target price of $65.55, while shares recently opened at $60.92 and were up 1.2% on the day.

Bank of New York Mellon Corp grew its position in shares of Unilever PLC (NYSE:UL - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 843,228 shares of the company's stock after buying an additional 56,138 shares during the quarter. Bank of New York Mellon Corp's holdings in Unilever were worth $48,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Unilever in the 4th quarter worth approximately $268,704,000. Norges Bank bought a new position in Unilever during the fourth quarter valued at $132,027,000. Federated Hermes Inc. grew its holdings in Unilever by 944.7% during the fourth quarter. Federated Hermes Inc. now owns 1,417,108 shares of the company's stock valued at $92,679,000 after purchasing an additional 1,281,465 shares during the period. Price T Rowe Associates Inc. MD increased its position in Unilever by 44.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,067,651 shares of the company's stock worth $200,625,000 after buying an additional 942,286 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in Unilever by 78.8% in the second quarter. Corient Private Wealth LLC now owns 1,933,422 shares of the company's stock worth $118,261,000 after buying an additional 852,099 shares during the last quarter. Hedge funds and other institutional investors own 9.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on UL shares. Royal Bank Of Canada upgraded Unilever from an "underperform" rating to a "sector perform" rating in a research note on Tuesday, April 21st. Weiss Ratings lowered shares of Unilever from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, May 29th. Zacks Research lowered shares of Unilever from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Jefferies Financial Group reissued an "underperform" rating on shares of Unilever in a report on Monday, July 6th. Finally, DZ Bank upgraded Unilever from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Unilever has a consensus rating of "Hold" and an average target price of $65.55.

Unilever Trading Up 1.2%

Shares of Unilever stock opened at $60.92 on Friday. Unilever PLC has a 12 month low of $54.75 and a 12 month high of $74.97. The business's 50-day moving average price is $59.24 and its 200-day moving average price is $62.30.

About Unilever

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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