Reynders McVeigh Capital Management LLC Purchases 109,466 Shares of Unilever PLC $UL

by · The Cerbat Gem

Reynders McVeigh Capital Management LLC raised its holdings in shares of Unilever PLC (NYSE:UL – Free Report) by 36.0% in the second quarter, Holdings Channel reports. The institutional investor owned 413,512 shares of the company’s stock after acquiring an additional 109,466 shares during the period. Unilever comprises about 1.0% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Reynders McVeigh Capital Management LLC’s holdings in Unilever were worth $24,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of UL. Bank of America Corp DE grew its position in shares of Unilever by 16.4% during the 1st quarter. Bank of America Corp DE now owns 6,661,426 shares of the company’s stock worth $379,501,000 after buying an additional 937,346 shares in the last quarter. Royal Bank of Canada increased its stake in Unilever by 13.6% during the 1st 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 in the last quarter. Hamlin Capital Management LLC raised its stake in Unilever by 11.6% in the 2nd quarter. Hamlin Capital Management LLC now owns 2,722,721 shares of the company’s stock worth $163,690,000 after acquiring an additional 282,076 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Unilever by 674.2% in the first quarter. Lazard Asset Management LLC now owns 2,794,600 shares of the company’s stock worth $159,208,000 after purchasing an additional 2,433,625 shares during the last quarter. Finally, Norges Bank purchased a new position in Unilever during the 4th quarter worth approximately $132,027,000. 9.67% of the stock is currently owned by institutional investors.

Unilever Stock Performance

Shares of NYSE UL traded down $1.10 during midday trading on Tuesday, hitting $62.47. The stock had a trading volume of 2,864,918 shares, compared to its average volume of 4,173,500. Unilever PLC has a 1 year low of $54.75 and a 1 year high of $74.97. The stock has a 50 day simple moving average of $63.09 and a 200-day simple moving average of $61.02.

Unilever (NYSE:UL – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that Unilever PLC will post 3.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UL shares. TD Cowen reissued a “buy” rating on shares of Unilever in a report on Wednesday, July 29th. Zacks Research upgraded Unilever from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Unilever from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Unilever in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Unilever presently has an average rating of “Hold” and a consensus target price of $65.55.

Check Out Our Latest Research Report on UL

Unilever Profile

(Free Report)

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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