Unilever PLC $UL Stock Sold by Kennon Green & Company LLC

Kennon Green & Company LLC lowered its position in shares of Unilever PLC (NYSE:UL) by 71.3% in the third quarter, Holdings Channel reports. The institutional investor owned 9,830 shares of the company’s stock after selling 24,403 shares during the quarter. Kennon Green & Company LLC’s holdings in Unilever were worth $597,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings in Unilever by 674.2% in the first 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 last quarter. Renaissance Technologies LLC acquired a new stake in Unilever during the first quarter worth $67,107,000. Bank of America Corp DE increased its stake in Unilever by 16.4% during the first quarter. Bank of America Corp DE now owns 6,661,426 shares of the company’s stock worth $379,501,000 after acquiring an additional 937,346 shares during 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. Hedge funds and other institutional investors own 9.67% of the company’s stock.

Unilever Stock Performance

Unilever stock traded up $0.29 during midday trading on Monday, reaching $59.99. 2,655,768 shares of the stock traded hands, compared to its average volume of 4,071,682. The company has a 50-day simple moving average of $63.15 and a two-hundred day simple moving average of $60.37. Unilever PLC has a 12-month low of $54.75 and a 12-month high of $74.97.

Unilever (NYSE:UL) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($1.25). The firm had revenue of $14.62 billion for the quarter, compared to analyst estimates of $14.80 billion. As a group, sell-side analysts forecast that Unilever PLC will post 3.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on UL shares. Weiss Ratings upgraded Unilever from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. TD Cowen restated a “buy” rating on shares of Unilever in a report on Wednesday, July 29th. Jefferies Financial Group restated an “underperform” rating on shares of Unilever in a report on Monday, July 6th. Finally, Zacks Research raised shares of Unilever from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. 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 issued a Sell rating to the stock. Based on 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.