Unilever’s stock has faced a downgrade, with investment analysts at BNP Paribas reducing their rating from a “strong-buy” to a “hold.” This decision was detailed in a research report released on Thursday, indicating a shift in sentiment regarding the company’s market performance.
The downgrade from BNP Paribas follows a trend among various analysts who have recently reassessed their positions on Unilever’s stock. Jefferies Financial Group has reiterated its “underperform” rating, while Deutsche Bank Aktiengesellschaft maintained a “buy” rating in a report dated December 11, 2023. Additionally, Zacks Research also shifted its stance, downgrading Unilever from a “strong-buy” to a “hold” rating on October 16, 2023.
In a more optimistic note, Morgan Stanley has set a price target of $60.10 for Unilever while assigning an “overweight” rating, as reported on December 15, 2023. Weiss Ratings also reaffirmed a “buy (b-)” rating on December 29, 2023. Overall, the stock has received five “buy” ratings, three “hold” ratings, and two “sell” ratings from analysts. According to data from MarketBeat, Unilever currently holds a consensus rating of “hold” with an average price target of $67.37.
Recent Institutional Trading Activity
Recent trading activity among institutional investors shows a notable interest in Unilever shares. For instance, Palisade Asset Management LLC entered a new position in the third quarter, acquiring shares valued at approximately $25,000. Asset Dedication LLC significantly increased its holdings by 108.8% during the same period, now owning 476 shares valued at $28,000 after purchasing an additional 248 shares.
Furthermore, Global Wealth Strategies & Associates and FNY Investment Advisers LLC also established new positions in Unilever, each valued at $29,000. GPS Wealth Strategies Group LLC expanded its stake by 141.3%, acquiring 514 shares worth $30,000 after an additional purchase of 301 shares in the last quarter. Collectively, institutional investors and hedge funds hold approximately 9.67% of Unilever’s shares.
About Unilever
Unilever PLC is a prominent global consumer goods company with a history dating back to the early 20th century, formed from the merger of the British firm Lever Brothers and the Dutch company Margarine Unie. The organization develops, manufactures, and markets a diverse portfolio of branded products spanning personal care, home care, and food and refreshments.
The company maintains a significant presence in global markets, reflecting its heritage in both the United Kingdom and the Netherlands. Unilever’s operations are structured around major product categories, including Beauty & Personal Care, Home Care, and Foods & Refreshment, featuring numerous well-known consumer brands.
As analysts continue to adjust their ratings and institutional investments evolve, stakeholders will be closely monitoring Unilever’s performance in the coming months.
