Unilever PLC $UL Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Unilever stake by 20% in the second quarter, selling 1.33 million shares and retaining 5.33 million shares valued at approximately $320.6 million.
• Other institutional investors increased their positions, including Lazard Asset Management, which expanded its holdings by 674.2%. Institutional investors and hedge funds collectively own 9.67% of Unilever.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $65.55 price target. Unilever’s latest quarterly results missed expectations, reporting $0.59 in earnings per share and $14.62 billion in revenue.

Bank of America Corp DE lessened its position in Unilever PLC (NYSE:UL - Free Report) by 20.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,331,851 shares of the company's stock after selling 1,329,575 shares during the quarter. Bank of America Corp DE owned approximately 0.25% of Unilever worth $320,551,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Saturna Capital Corp grew its holdings in shares of Unilever by 38.0% in the first quarter. Saturna Capital Corp now owns 794,310 shares of the company's stock valued at $45,252,000 after purchasing an additional 218,767 shares in the last quarter. Diversify Wealth Management LLC lifted its holdings in Unilever by 77.6% during the 1st quarter. Diversify Wealth Management LLC now owns 39,116 shares of the company's stock worth $2,226,000 after buying an additional 17,093 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Unilever by 674.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,794,600 shares of the company's stock worth $159,208,000 after buying an additional 2,433,625 shares in the last quarter. Arkadios Wealth Advisors boosted its position in Unilever by 135.1% in the 1st quarter. Arkadios Wealth Advisors now owns 31,179 shares of the company's stock valued at $1,776,000 after buying an additional 17,918 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Unilever by 10.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 795,511 shares of the company's stock valued at $47,826,000 after buying an additional 74,211 shares during the period. Institutional investors and hedge funds own 9.67% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on UL. TD Cowen reaffirmed 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. Zacks Research raised Unilever from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded Unilever from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, July 30th. Two research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $65.55.

Unilever Stock Down 0.0%

NYSE UL opened at $62.42 on Thursday. The firm's fifty day moving average price is $63.10 and its 200 day moving average price is $60.86. Unilever PLC has a 12 month low of $54.75 and a 12 month high of $74.97.

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

Unilever Company 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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