Unilever PLC $UL Stock: Cooke & Bieler LP Reduces Stake

Key Points

• Cooke & Bieler LP cut its Unilever stake by 45.3% in the third quarter, selling 557,605 shares and retaining 673,584 shares valued at approximately $40.9 million.
• Other institutional investors increased their positions, but institutional investors and hedge funds collectively own only 9.67% of Unilever’s stock.
• Unilever shares recently traded at $64.30, while analysts maintain a consensus “Hold” rating with an average price target of $68.37; the company also missed its latest quarterly earnings estimate.

Cooke & Bieler LP lowered its stake in Unilever PLC (NYSE:UL - Free Report) by 45.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 673,584 shares of the company's stock after selling 557,605 shares during the quarter. Cooke & Bieler LP's holdings in Unilever were worth $40,907,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Corient Private Wealth LP increased its position in Unilever by 21.2% in the 2nd quarter. Corient Private Wealth LP now owns 533,030 shares of the company's stock valued at $32,046,000 after acquiring an additional 93,161 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Unilever by 4.5% during the second quarter. First Eagle Investment Management LLC now owns 842,507 shares of the company's stock valued at $50,652,000 after acquiring an additional 36,567 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Unilever during the second quarter worth $10,344,000. Saturna Capital Corp lifted its holdings in shares of Unilever by 38.0% during the first quarter. Saturna Capital Corp now owns 794,310 shares of the company's stock worth $45,252,000 after purchasing an additional 218,767 shares during the period. Finally, Diversify Wealth Management LLC lifted its holdings in shares of Unilever by 77.6% during the first quarter. Diversify Wealth Management LLC now owns 39,116 shares of the company's stock worth $2,226,000 after purchasing an additional 17,093 shares during the period. 9.67% of the stock is currently owned by institutional investors and hedge funds.

Unilever Price Performance

UL stock opened at $64.30 on Thursday. The company's 50-day moving average is $62.98 and its 200-day moving average is $60.65. 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 released its quarterly earnings data on Tuesday, July 28th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate 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. As a group, equities analysts predict that Unilever PLC will post 3.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Sanford C. Bernstein reaffirmed a "buy" rating on shares of Unilever in a research report on Wednesday, September 30th. UBS Group reaffirmed a "sell" rating on shares of Unilever in a report on Monday, August 3rd. Barclays reiterated a "buy" rating on shares of Unilever in a research report on Tuesday, July 7th. TD Cowen decreased their price target on Unilever from $76.00 to $74.00 and set a "buy" rating for the company in a research note on Tuesday, October 13th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of Unilever in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $68.37.

Unilever Profile

Unilever PLC is a global consumer goods company headquartered in London, England. It develops, markets and sells branded products used in households and personal care, with operations serving consumers across developed and emerging markets worldwide.

The company's portfolio includes beauty and wellbeing products, personal care items, home care products, and foods and refreshments. Its brands include Dove, Vaseline, Axe, TRESemmé, Cif, OMO, Persil, Knorr, Hellmann's and Ben & Jerry's, although product offerings vary by market.

Unilever was formed in 1929 through the merger of British soap maker Lever Brothers and Dutch margarine producer Margarine Unie.

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