Unilever PLC $UL Holdings Cut by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich lowered its stake in shares of Unilever PLC (NYSE:UL) by 1.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,531,084 shares of the company’s stock after selling 23,440 shares during the period. Unilever accounts for about 2.1% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 11th biggest position. Munich Reinsurance Co Stock Corp in Munich’s holdings in Unilever were worth $92,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UL. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Unilever in the fourth quarter worth $268,704,000. Lazard Asset Management LLC boosted its position in Unilever by 674.2% during the first quarter. Lazard Asset Management LLC now owns 2,794,600 shares of the company’s stock valued at $159,208,000 after purchasing an additional 2,433,625 shares during the last quarter. Norges Bank purchased a new position in Unilever in the fourth quarter valued at about $132,027,000. Federated Hermes Inc. grew its stake in Unilever by 944.7% in the fourth quarter. Federated Hermes Inc. now owns 1,417,108 shares of the company’s stock valued at $92,679,000 after purchasing an additional 1,281,465 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Unilever in the first quarter valued at about $67,107,000. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UL has been the subject of a number of recent research reports. Weiss Ratings raised Unilever from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Zacks Research raised Unilever from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. TD Cowen restated a “buy” rating on shares of Unilever in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Unilever in a research report 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 MarketBeat.com, Unilever has an average rating of “Hold” and a consensus target price of $65.55.

Unilever Price Performance

Unilever stock opened at $64.19 on Friday. Unilever PLC has a one year low of $54.75 and a one year high of $74.97. The company’s fifty day moving average price is $62.92 and its two-hundred day moving average price is $61.55.

Unilever (NYSE:UL) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($1.25). The business had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $14.80 billion. Sell-side analysts anticipate that Unilever PLC will post 3.53 EPS for the current year.

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.