Unilever (NYSE:UL) Shares Gap Up - Here's What Happened

Key Points

• Unilever shares jumped 8.3%, opening at $66.64 versus the prior close of $61.37, and last traded near $66.45.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $65.55; ratings range from Strong Buy to Strong Sell.
• Unilever reported quarterly EPS of $0.92, below the $1.85 consensus estimate, while revenue totaled $14.62 billion versus expectations of $29.49 billion.

Unilever PLC (NYSE:UL - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $61.37, but opened at $66.64. Unilever shares last traded at $66.4540, with a volume of 1,380,459 shares trading hands.

Wall Street Analyst Weigh In

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

Unilever Trading Up 8.3%

The stock has a fifty day moving average of $59.32 and a 200-day moving average of $62.27.

Unilever (NYSE:UL - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.93). The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $29.49 billion. On average, analysts anticipate that Unilever PLC will post 3.51 EPS for the current year.

Hedge Funds Weigh In On Unilever

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

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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