Unilever PLC (NYSE:UL) Short Interest Update

Unilever PLC (NYSE:UL) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 4,148,912 shares, a growth of 74.2% from the August 15th total of 2,381,838 shares. Based on an average trading volume of 4,104,729 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.2% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Institutional Trading of Unilever

Several hedge funds and other institutional investors have recently modified their holdings of UL. Lazard Asset Management LLC lifted its stake in shares of Unilever by 674.2% in the 1st 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 bought a new stake in shares of Unilever during the 4th quarter worth $132,027,000. Renaissance Technologies LLC acquired a new position in Unilever in the 1st quarter valued at $67,107,000. Bank of America Corp DE grew its stake in Unilever by 16.4% in the 1st quarter. Bank of America Corp DE now owns 6,661,426 shares of the company’s stock valued at $379,501,000 after buying an additional 937,346 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Unilever by 13.6% in the first quarter. Royal Bank of Canada now owns 3,403,807 shares of the company’s stock worth $193,915,000 after purchasing an additional 406,610 shares during the period. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

Unilever Trading Down 0.4%

Shares of Unilever stock traded down $0.24 on Thursday, hitting $62.20. The company had a trading volume of 2,141,692 shares, compared to its average volume of 4,151,804. Unilever has a 52 week low of $54.75 and a 52 week high of $74.97. The business has a 50-day simple moving average of $63.13 and a 200-day simple moving average of $60.78.

Unilever (NYSE:UL) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.59 earnings per share 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 the consensus estimate of $14.80 billion. As a group, equities research analysts expect that Unilever will post 3.53 EPS for the current fiscal year.

About Unilever

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.