Norden Group LLC has reduced its holdings in Unilever PLC by 2.1% in the second quarter of 2023. According to a report from HoldingsChannel.com, the institutional investor now owns 47,443 shares of the company after selling 1,014 shares during this period. As of the latest filing with the Securities and Exchange Commission, these holdings were valued at approximately $2,902,000.
Several other institutional investors have also made notable changes to their positions in Unilever recently. Wellington Management Group LLP increased its stake by 13.9% during the first quarter, acquiring an additional 3,421,054 shares. This brings their total to 28,100,442 shares, valued at around $1.67 billion. Similarly, GAMMA Investing LLC expanded its holdings by a staggering 7,286.5%, now owning 781,713 shares worth $46.55 million after purchasing an additional 771,130 shares.
Other significant movements include Clark Capital Management Group Inc., which acquired a new stake valued at approximately $45.41 million, and BNP Paribas Financial Markets, which raised its stake by 764.5% during the same quarter. BNP Paribas now holds 775,561 shares worth about $46.19 million following the acquisition of 685,848 additional shares. Collectively, hedge funds and institutional investors own approximately 9.67% of Unilever’s stock.
Current Stock Performance and Analyst Ratings
On September 17, 2023, Unilever stock opened at $60.54. The company’s fifty-day moving average price stands at $61.63, while its 200-day moving average price is $61.60. Unilever has experienced a one-year low of $54.32 and a high of $65.87. The company’s market capitalization is currently $148.55 billion with a price-to-earnings (P/E) ratio of 17.35 and a beta of 0.40.
In terms of analyst evaluations, Zacks Research recently upgraded Unilever shares from a “hold” to a “strong-buy” rating. Additionally, BNP Paribas Exane initiated coverage with an “outperform” rating and set a target price of $73.00. Jefferies Financial Group maintained an “underperform” rating, while CICC Research assigned an “outperform” rating. Overall, the consensus among analysts reflects a “Moderate Buy” rating, with an average target price also set at $73.00.
Insight into Unilever’s Operations
Unilever PLC operates as a leading fast-moving consumer goods company, with a diverse portfolio that spans multiple regions including Asia Pacific, Africa, the Americas, and Europe. The company operates through five segments: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. The Beauty & Wellbeing segment includes various hair care and skincare products, alongside health and wellness offerings such as vitamins and supplements.
The adjustments by institutional investors and the latest analyst ratings highlight ongoing interest and activity around Unilever shares, reflecting broader market dynamics. As the company continues to navigate its operational landscape, these developments will be closely monitored by market participants.
