Short Interest in Unilever PLC (NYSE:UL) Rises By 74.2%

Unilever PLC (NYSE:UL) saw a large growth in short interest in 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. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Reynders McVeigh Capital Management LLC grew its position in Unilever by 36.0% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 413,512 shares of the company’s stock worth $24,860,000 after purchasing an additional 109,466 shares in the last quarter. Keystone Financial Planning Inc. lifted its holdings in shares of Unilever by 5.0% in the second quarter. Keystone Financial Planning Inc. now owns 160,522 shares of the company’s stock valued at $9,651,000 after purchasing an additional 7,640 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Unilever in the second quarter worth $10,344,000. Tidal Investments LLC grew its holdings in shares of Unilever by 26.4% during the second quarter. Tidal Investments LLC now owns 20,441 shares of the company’s stock valued at $1,229,000 after buying an additional 4,265 shares in the last quarter. Finally, Whetstone Capital Advisors LLC raised its position in Unilever by 14.2% during the second quarter. Whetstone Capital Advisors LLC now owns 4,444 shares of the company’s stock valued at $267,000 after buying an additional 551 shares during the period. 9.67% of the stock is owned by hedge funds and other institutional investors.

Unilever Trading Down 1.0%

NYSE UL opened at $61.60 on Friday. The company’s 50 day simple moving average is $63.13 and its 200 day simple moving average is $60.78. Unilever has a 12 month low of $54.75 and a 12 month high of $74.97.

Unilever (NYSE:UL) last released 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 during the quarter, compared to analyst estimates of $14.80 billion. On average, sell-side analysts anticipate that Unilever will post 3.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.