Trian Fund Management, led by investor Nelson Peltz, has sold part of its stake in British consumer goods company Unilever (LON:ULVR) for £181 million ($232 million). The sale included approximately 3.8 million shares, as detailed in a recent deposit.
Previously, Trian Fund Management was Unilever’s fifth-largest shareholder, holding a 1.47% stake, which amounted to 36.6 million shares worth about $1.8 billion. Following this transaction, the fund’s stake fell to about 32.6 million shares. According to a Trian spokesperson, the shares were sold last Friday, Monday and Tuesday for reasons related to ‘portfolio management purposes’.
Nelson Peltz’s hedge fund began accumulating shares in Unilever in early 2022. Peltz himself joined Unilever’s board in May of the same year. Since Trian’s investment was first unveiled in January 2022, Unilever’s stock has seen an increase of almost 30%. The stock is also up more than 23% year-to-date, boosted last month by the company beating its first-half earnings forecast.
Under the leadership of the company’s CEO Heine Schumacher, whom Beltz supported to take over the role and took charge in 2023, Unilever embarked on strategic changes. These changes include plans to separate the ice cream business, reduce the workforce by up to 7,500 jobs, and focus on 30 major brands as a way to address past underperformance.
At the time of the report, Unilever shares were slightly lower when trading at £47.10. Despite the recent sale, Peltz expressed his intention to maintain his active role working with Unilever’s Board of Directors and management team.
Read also:Sphere Entertainment shares jump 10% after achieving fourth-quarter revenue
Reuters contributed to this article.
This article was translated with the help of an artificial intelligence program after an editor’s review. For more details please refer to Banha Terms and Conditions
ULVR stock rating buy or sell?
Do you reproach you for too much investment information? You are not alone. Stocks in 2024 move with strong volatility, and with all these analyses and conflicting opinions everywhere you go, you feel the complexity of the money market.
But finding a fair value ULVR becomes easier when there is a tried and profitable way to do it.
The use of artificial intelligence and machine learning to predict potentially profitable stocks distinguishes this tool from traditional financial tools that rely on historical data. This system predicts the performance of the stock compared to a major index such as the S&P 500, assesses the level of confidence in these predictions, and estimates potential downside risks.
The best thing about this analysis and stock choices is that we isolate the noise and give you the feed: the fair value of each stock.
