London, July 1, 2026, 20:02 BST
- Unilever ended the session 0.75% higher at 4,561.50p. The FTSE 100 slipped 0.18%.
- Company held 30.7 million shares in treasury at July 1, after finishing €1.5 billion buyback, filing showed.
- Treasury shares are 1.4% of issued capital, valued at roughly £1.4 billion at the close
- Median analyst target points to roughly 14% upside from Wednesday’s close
Unilever PLC (LON:ULVR) outperformed a weaker London market Wednesday. A fresh July 1 filing showed 30.7 million shares now held in treasury following the company’s €1.5 billion buyback.
The stock ended the day at 4,561.50p, up 34p, or 0.75%. Volume hit 2.72 million shares, making up 42% of the 65-day average. The FTSE 100 (INDEXFTSE:UKX) slipped 18.78 points, or 0.18%, to 10,478.34.
| Market measure, July 1 close | Unilever | FTSE 100 |
|---|---|---|
| Close | 4,561.50p | 10,478.34 |
| Change | up 34.00p | down 18.78 pts |
| Change % | up 0.75% | down 0.18% |
| Day range | traded from 4,519.50p to 4,572.50p | moved between 10,429.17 and 10,508.25 |
| 52-week range | 3,644.00p to 5,542.11p over the year | between 8,738.99 and 10,934.94 |
| Volume | 2.72 mln shares, 42% of average | — |
Unilever reported in its July 1 voting-rights filing that as of June 30, issued share capital stood at 2.185 billion ordinary shares. The company held 30.704 million shares in treasury, leaving 2.154 billion shares with voting rights. The treasury shares make up 1.4% of the total issued and were valued at about £1.40 billion at Wednesday’s close.
| Share-count item | Figure |
|---|---|
| Ordinary shares out | 2.185 bln |
| Treasury stock | 30.704 mln |
| Voting shares | 2.154 bln |
| Treasury shares as percent of issued | 1.4% |
| Treasury shares market value at 4,561.50p | About £1.40 bln |
The second July item is absent. According to an SEC filing, Unilever finished the buyback on June 5, buying 30,703,780 ordinary shares for €1,499,999,891. The buyback launched on April 30 and was linked to 2025 performance.
The share count matters for holders since it can boost per-share figures even if overall profit doesn’t rise. With that buyback done, the July 28 half-year results will have to do more of the work.
The rally hasn’t closed the valuation gap, consensus numbers show. Investors Chronicle, citing LSEG data, reported 17 analysts with a median 12-month target at 5,201.61p, with estimates ranging from a high of 5,993.91p to a low of 4,297.36p. The median target is still roughly 14% above Wednesday’s close, while the low is 5.8% below that level.
| Analyst spread | Pence | Implied move vs 4,561.50p |
|---|---|---|
| High target | 5,993.91 | +31.4% |
| Median target | 5,201.61 | +14.0% |
| Low target | 4,297.36 | -5.8% |
| Recommendation mix, June 25 | 3 Buy, 6 Outperform, 7 Hold, 1 Sell, 1 Strong Sell | — |
Unilever is seeing most of its growth come from bigger volumes. The group’s first-quarter update showed underlying sales up 3.8%, led by 2.9% volume growth and 0.9% from prices. Turnover still fell 3.3% to €12.6 billion as forex moves and shifts in the business mix ate up the gains. CEO Fernando Fernandez said Unilever had “started the year well with volume-led growth,” is working on a “simpler, sharper Unilever,” and is keeping guidance unchanged. Unilever
| Q1 2026 | Turnover | Underlying sales growth | Volume | Price |
|---|---|---|---|---|
| Unilever | €12.6 bln | 3.8% | 2.9% | 0.9% |
| Beauty & Wellbeing | €3.1 bln | 3.6% | 1.9% | 1.6% |
| Personal Care | €3.3 bln | 3.7% | 1.1% | 2.5% |
| Home Care | €3.0 bln | 6.1% | 6.2% | -0.1% |
| Foods | €3.2 bln | 2.2% | 2.4% | -0.2% |
Home Care led in Q1, with volume outpacing reported underlying sales and prices negative. Personal Care numbers were still more driven by price. Foods came in weaker and saw negative price too. July will test if volume can keep ahead of price as the buyback is already built into the share count.
London shares offered little support. Reuters said the FTSE 100 slipped 0.2% on Wednesday, weighed by losses in healthcare and energy stocks. The FTSE 250 gained 1.4% to a one-week high, while precious-metal miners were up 3.3%.
Unilever plans to report Q2 and Half-Year 2026 results on July 28. The Q3 trading update is set for Oct. 28. According to its investor site, an aide-memoire comes ahead of the July results, and compiled sell-side consensus will be out after that.
