Is it Worth Investing in Unilever PLC (UL)?
Fundsmith, an investment management company based in London, released its 2022 yearly update. A copy of the same can be downloaded here. In 2022, the Fundsmith Equity Fund declined -13.8% compared to a 7.8% decline for the MSCI World Index in sterling with dividends reinvested. However, the fund is the best performer in the Investment Association Global sector since its inception in November 2010. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Fundsmith highlighted stocks like Unilever PLC (NYSE:UL) in the 2022 yearly investor letter. Headquartered in London, the United Kingdom, Unilever PLC (NYSE:UL) is a consumer goods company. On January 11, 2023, Unilever PLC (NYSE:UL) stock closed at $50.97 per share. One-month return of Unilever PLC (NYSE:UL) was 0.85%, and its shares lost 5.05% of their value over the last 52 weeks. Unilever PLC (NYSE:UL) has a market capitalization of $129.059 billion.
Fundsmith made the following comment about Unilever PLC (NYSE:UL) in its 2022 yearly investor letter:
“Last year I wrote about Unilever PLC (NYSE:UL) and attracted a virtual tsunami of comment for my remarks about Unilever, purpose and Hellmann’s mayonnaise. Events soon overtook this commentary insofar as Nelson Peltz’s Trian Partners announced that it had bought a stake in Unilever and he was invited to join the board. We are asked to suspend disbelief that this was in no way linked to the subsequent announcement that Alan Jope will be leaving the CEO role. This explanation sounds like it was lifted from the script of Miracle on 34th Street.
As I have previously pointed out, our Fund has held Unilever shares since inception and was about the 12th largest shareholder when these events happened. Yet for the first eight years of our existence as a shareholder we did not hear from Unilever. The first contact was when we were asked to vote in favour of moving the headquarters and listing to the Netherlands. As I remarked at the time, it is not a good way to manage relationships to ignore people until you need their support…” (Click here to read the full text)
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Unilever PLC (NYSE:UL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Unilever PLC (NYSE:UL) at the end of the third quarter, which was 21 in the previous quarter.
We discussed Unilever PLC (NYSE:UL) in another article and shared the boycotted companies and brands in history. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
