Ice Cream Giant Considering Billion-Dollar Sale

The stock hit multi-month highs earlier this month

Deputy Editor
Dec 8, 2022 at 10:40 AM
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The world's biggest ice cream maker, Unilever PLC (NYSE:UL) is gathering headlines today, as it is reportedly considering selling some of its U.S. ice cream businesses. The sale could be valued at roughly $3 billion and include Klondike and Breyers, according to people familiar with the matter. 

On the charts, UL has steadily fallen since its Dec. 2, roughly nine-month highs, and is currently inching 0.1% lower to trade at $50.75. Several short- and long-term trendlines linger below as potential support, however, including its 20-day moving average. Year-to-date, the equity is down 5.7%. 

Analysts are leaning bearish on Unilever stock, with six of the nine in coverage carrying a "hold" or worse rating. Plus, the 12-month consensus price target of $48.37 sits at a 4.7% discount to current levels. 

It's also worth pointing out that UL ranks low on the Schaeffer's Volatility Scorecard (SVS), with a score of just 19 out of 100. In other words, the security has consistently realized lower volatility than its options have priced in, making the stock a potential premium-selling candidate.

 

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