Unilever (NYSE:UL) Shares Gap Down – Here’s What Happened

Unilever PLC (NYSE:UL) gapped down before the market opened on Monday . The stock had previously closed at $59.48, but opened at $55.88. Unilever shares last traded at $55.1730, with a volume of 912,216 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. CICC Research assumed coverage on shares of Unilever in a report on Thursday, August 21st. They set an “outperform” rating for the company. Zacks Research downgraded shares of Unilever from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Unilever in a research note on Monday, December 1st. Finally, Jefferies Financial Group restated an “underperform” rating on shares of Unilever in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Unilever currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Unilever Stock Down 6.4%

The stock’s 50 day moving average is $60.40 and its two-hundred day moving average is $61.32.

Institutional Trading of Unilever

Several large investors have recently made changes to their positions in the company. Pullen Investment Management LLC increased its stake in shares of Unilever by 0.6% in the third quarter. Pullen Investment Management LLC now owns 28,386 shares of the company’s stock valued at $1,683,000 after buying an additional 160 shares during the period. Gallacher Capital Management LLC increased its position in Unilever by 1.9% in the 2nd quarter. Gallacher Capital Management LLC now owns 8,700 shares of the company’s stock valued at $532,000 after acquiring an additional 165 shares during the period. Global Retirement Partners LLC increased its position in 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 raised its stake in shares of Unilever by 0.5% during the third 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 last quarter. Finally, Ascent Group LLC lifted its holdings in shares of Unilever by 2.3% during the second quarter. Ascent Group LLC now owns 8,457 shares of the company’s stock worth $517,000 after purchasing an additional 187 shares during the period. 9.67% of the stock is currently owned by hedge funds and other institutional investors.

About Unilever

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.