Unilever PLC $UL Shares Sold by Hamlin Capital Management LLC

Key Points

• Hamlin Capital Management reduced its Unilever stake by 2.3% in the third quarter, selling 61,999 shares and retaining 2.66 million shares valued at approximately $161.6 million.
• Unilever shares rose 1.3% to $61.78, while the company’s latest quarterly results missed analyst expectations on both earnings and revenue.
• Analysts maintain a consensus “Hold” rating, with a consensus price target of $65.55; institutional investors collectively own 9.67% of the stock.

Hamlin Capital Management LLC trimmed its holdings in shares of Unilever PLC (NYSE:UL - Free Report) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,660,722 shares of the company's stock after selling 61,999 shares during the period. Unilever comprises 3.9% of Hamlin Capital Management LLC's investment portfolio, making the stock its 13th largest position. Hamlin Capital Management LLC owned 0.12% of Unilever worth $161,586,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Lazard Asset Management LLC raised its stake in shares of Unilever by 674.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,794,600 shares of the company's stock valued at $159,208,000 after acquiring an additional 2,433,625 shares during the period. Renaissance Technologies LLC purchased a new stake in Unilever during the 1st quarter worth $67,107,000. Bank of America Corp DE increased its holdings in Unilever by 16.4% in the 1st quarter. Bank of America Corp DE now owns 6,661,426 shares of the company's stock valued at $379,501,000 after purchasing an additional 937,346 shares in the last quarter. Royal Bank of Canada raised its position in Unilever by 13.6% in the first quarter. Royal Bank of Canada now owns 3,403,807 shares of the company's stock valued at $193,915,000 after purchasing an additional 406,610 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich raised its position in Unilever by 26.0% in the first quarter. Munich Reinsurance Co Stock Corp in Munich now owns 1,554,524 shares of the company's stock valued at $88,561,000 after purchasing an additional 320,304 shares during the period. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

Unilever Stock Up 1.3%

Shares of NYSE:UL traded up $0.80 during midday trading on Thursday, reaching $61.78. The company had a trading volume of 1,526,490 shares, compared to its average volume of 4,045,315. The stock's fifty day moving average price is $62.89 and its 200-day moving average price is $60.32. Unilever PLC has a one year low of $54.75 and a one year high of $74.97.

Unilever (NYSE:UL - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $14.80 billion. On average, equities research analysts anticipate that Unilever PLC will post 3.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Unilever from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. TD Cowen reaffirmed a "buy" rating on shares of Unilever in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Unilever from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. Finally, Jefferies Financial Group restated an "underperform" rating on shares of Unilever in a research note on Monday, July 6th. Two research 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $65.55.

Unilever Profile

Unilever PLC is a global consumer goods company headquartered in London, England. It develops, manufactures and markets branded products across beauty and wellbeing, personal care, home care and nutrition. Its portfolio includes widely recognized brands such as Dove, Vaseline, Axe, Rexona, Cif, Domestos, Knorr, Hellmann's and Magnum, although product availability varies by market.

The company's products are sold through supermarkets, convenience stores, pharmacies, e-commerce platforms and other retail channels in countries around the world.

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