Bank of New York Mellon Corp Grows Stock Position in Unilever PLC $UL

Bank of New York Mellon Corp increased its stake in Unilever PLC (NYSE:UL) by 7.1% in the first quarter, HoldingsChannel reports. The fund owned 843,228 shares of the company’s stock after purchasing an additional 56,138 shares during the period. Bank of New York Mellon Corp’s holdings in Unilever were worth $48,039,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

UL has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Unilever from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Weiss Ratings downgraded shares of Unilever from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. DZ Bank raised Unilever from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Jefferies Financial Group restated an “underperform” rating on shares of Unilever in a research note on Monday, July 6th. Finally, Royal Bank Of Canada upgraded Unilever from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 21st. 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 currently has a consensus rating of “Hold” and an average price target of $65.55.

Unilever Price Performance

Shares of NYSE:UL opened at $60.92 on Friday. Unilever PLC has a fifty-two week low of $54.75 and a fifty-two week high of $74.97. The business has a 50-day simple moving average of $59.24 and a two-hundred day simple moving average of $62.30.

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.