The Manufacturers Life Insurance Company Makes New Investment in Unilever PLC $UL

Key Points

• The Manufacturers Life Insurance Company acquired 172,056 Unilever shares in the second quarter, worth approximately $10.3 million. Institutional investors and hedge funds collectively own 9.67% of the stock.
• Unilever reported quarterly EPS of $0.59, missing the $1.84 consensus estimate, while revenue reached $14.62 billion versus expectations of $14.80 billion.
• UL opened at $62.01, within its 52-week range of $54.75 to $74.97. Analysts’ average rating is “Hold”, with an average price target of $65.55.

The Manufacturers Life Insurance Company acquired a new position in Unilever PLC (NYSE:UL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 172,056 shares of the company's stock, valued at approximately $10,344,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Elyxium Wealth LLC bought a new stake in Unilever in the fourth quarter worth approximately $25,000. Financial Life Planners bought a new position in shares of Unilever during the 1st quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Unilever during the 3rd quarter worth approximately $25,000. Bard Associates Inc. acquired a new stake in shares of Unilever during the 4th quarter worth approximately $27,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Unilever during the 1st quarter valued at $29,000. 9.67% of the stock is owned by institutional investors and hedge funds.

Unilever Stock Performance

UL opened at $62.01 on Friday. Unilever PLC has a fifty-two week low of $54.75 and a fifty-two week high of $74.97. The company's 50-day moving average is $63.05 and its 200 day moving average is $61.18.

Unilever (NYSE:UL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($1.25). The business had revenue of $14.62 billion during the quarter, compared to analysts' expectations of $14.80 billion. As a group, research analysts predict that Unilever PLC will post 3.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on UL shares. Zacks Research upgraded shares of Unilever from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. TD Cowen reissued a "buy" rating on shares of Unilever in a research report on Wednesday, July 29th. Jefferies Financial Group reiterated an "underperform" rating on shares of Unilever in a report on Monday, July 6th. Finally, Weiss Ratings raised Unilever from a "sell (d)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.55.

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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