Unilever (NYSE:UL) Cut to “Neutral” at BNP Paribas Exane

BNP Paribas Exane downgraded shares of Unilever (NYSE:UL) from an outperform rating to a neutral rating in a report issued on Thursday, Marketbeat Ratings reports. BNP Paribas Exane currently has $71.00 price target on the stock.

UL has been the topic of several other reports. Weiss Ratings restated a “buy (b-)” rating on shares of Unilever in a report on Monday, December 29th. Zacks Research lowered Unilever from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. Morgan Stanley set a $60.10 price objective on Unilever and gave the company an “overweight” rating in a report on Monday, December 15th. UBS Group reiterated a “sell” rating on shares of Unilever in a report on Wednesday, December 10th. Finally, Jefferies Financial Group restated an “underperform” rating on shares of Unilever in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.37.

Unilever Stock Up 1.4%

Shares of NYSE:UL opened at $64.23 on Thursday. The firm’s 50 day simple moving average is $66.20 and its 200-day simple moving average is $67.93. Unilever has a one year low of $61.11 and a one year high of $73.87.

Hedge Funds Weigh In On Unilever

Several hedge funds have recently modified their holdings of UL. Pullen Investment Management LLC grew its position in Unilever by 0.6% during the 3rd quarter. Pullen Investment Management LLC now owns 28,386 shares of the company’s stock worth $1,683,000 after purchasing an additional 160 shares during the last quarter. Gallacher Capital Management LLC lifted its stake in shares of Unilever by 1.9% during the second quarter. Gallacher Capital Management LLC now owns 8,700 shares of the company’s stock worth $532,000 after buying an additional 165 shares during the period. Global Retirement Partners LLC increased its position in shares of Unilever by 1.9% in the 3rd quarter. Global Retirement Partners LLC now owns 9,873 shares of the company’s stock valued at $585,000 after acquiring an additional 181 shares during the period. Synovus Financial Corp increased its position in shares of Unilever by 0.5% in the 3rd quarter. Synovus Financial Corp now owns 40,080 shares of the company’s stock valued at $2,376,000 after acquiring an additional 182 shares during the period. Finally, Ascent Group LLC raised its stake in Unilever by 2.3% in the 2nd quarter. Ascent Group LLC now owns 8,457 shares of the company’s stock worth $517,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 9.67% of the company’s stock.

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.