Royal Bank of Canada Downgrades Unilever (NYSE:UL) to Underperform

Unilever (NYSE:UL) was downgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports.

Other research analysts have also recently issued reports about the stock. Erste Group Bank reiterated a “hold” rating on shares of Unilever in a research note on Tuesday, November 19th. StockNews.com downgraded Unilever from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $61.75.

Unilever Stock Performance

Shares of NYSE:UL opened at $55.86 on Monday. The company has a market capitalization of $138.42 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 1.80 and a beta of 0.49. The company’s 50-day moving average is $58.46 and its 200 day moving average is $60.36. Unilever has a fifty-two week low of $46.46 and a fifty-two week high of $65.87.

Institutional Investors Weigh In On Unilever

Several institutional investors have recently made changes to their positions in UL. Jennison Associates LLC increased its position in shares of Unilever by 981.6% during the third quarter. Jennison Associates LLC now owns 2,076,169 shares of the company’s stock valued at $134,868,000 after buying an additional 1,884,216 shares during the period. Bank of Montreal Can increased its holdings in Unilever by 249.5% during the 2nd quarter. Bank of Montreal Can now owns 1,748,329 shares of the company’s stock worth $98,204,000 after acquiring an additional 1,248,136 shares during the period. Clearbridge Investments LLC lifted its stake in Unilever by 598.7% in the 2nd quarter. Clearbridge Investments LLC now owns 1,301,239 shares of the company’s stock worth $71,555,000 after purchasing an additional 1,114,992 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Unilever by 7.1% during the 3rd quarter. Fisher Asset Management LLC now owns 16,726,400 shares of the company’s stock valued at $1,086,547,000 after purchasing an additional 1,114,177 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of Unilever by 493.4% during the 3rd quarter. Citigroup Inc. now owns 1,105,064 shares of the company’s stock valued at $71,785,000 after purchasing an additional 918,841 shares in the last quarter. Hedge funds and other institutional investors own 9.67% of the company’s stock.

Unilever Company Profile

Unilever PLC operates as a fast-moving consumer goods company in the Asia Pacific, Africa, the Americas, and Europe. It operates through five segments: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. The Beauty & Wellbeing segment engages in the sale of hair care products, such as shampoo, conditioner, and styling; skin care products including face, hand, and body moisturizer; and prestige beauty and health & wellbeing products consist of the vitamins, minerals, and supplements.