London, June 15, 2026, 10:46 BST
- Unilever shares traded at 4,399.5p in London, up 0.31%. The stock is still far from its 52-week high.
- The next major catalyst is Q2 and half-year results set for July 28.
- Buybacks and higher volumes help the bull view. Still, sluggish developed markets and the McCormick Foods deal keep risks on the table.
Unilever PLC lifted 0.31% in early London action Monday, trading near 4,399.5p. The UK market traded higher as well. Google Finance showed the 52-week band between 3,644.00p and 5,542.11p, with the stock still below the year’s top. AJ Bell data listed Unilever’s market cap near £95.28 billion, a 3.86% yield, and a price-to-earnings ratio of about 19.6. The P/E ratio divides price by earnings per share. Google
Unilever shares are trading higher mostly on solid momentum, not because of any fresh company news. Investors tend to push stocks up when earnings look stronger, risks fall, or companies promise bigger cash returns. In Unilever’s case, it just wrapped up a €1.5 billion buyback and posted better first-quarter volume growth, while investors seem more confident about valuing the business after portfolio changes. The company said the buyback aimed to cut share capital. Buybacks lower the number of shares, which can lift earnings per share if profits stay level. Unilever
Unilever’s operating case improved this quarter. The company reported first-quarter underlying sales growth of 3.8%, with volumes up 2.9%. Underlying sales growth strips out currency, acquisitions and disposals. Volume growth measures if Unilever moved more products or just raised prices. That’s important for consumer staples stocks, where steady growth is a focus. Power Brands saw 5.0% underlying sales growth. Emerging markets increased 5.7%, helped by India and stronger numbers out of Latin America, China and Indonesia. But Unilever’s turnover fell 3.3% to €12.6 billion due to currency. Unilever
Unilever’s Q2 and half-year 2026 results are due out July 28. Investors are watching whether management can keep full-year underlying sales at the bottom of its 4% to 6% target, drive volume growth past 2%, and get operating margin above last year’s 20.0%. CEO Fernando Fernandez said in Q1 the year started with “volume-led growth driven by our Power Brands.” The July report will show if that momentum stuck as demand cooled in Europe and other key markets. Unilever
Unilever’s planned deal to merge its Foods business with McCormick is what investors are focused on now. Unilever says the deal shifts its focus to faster-growing home, personal care and beauty units and would carve out foods as its own global business. The company estimates €400 million to €500 million of stranded costs after the split. It’s also warning on expected one-off restructuring charges of €500 million between 2027 and 2029. There’s risk here even for bulls: shareholders may want a cleaner structure, but there are questions on execution, regulatory sign-off, and what Unilever’s stake in the new foods group could actually be worth. Unilever
Unilever doesn’t stand out as cheap based on today’s price, but there’s some upside for selective buyers. Bulls highlight the stronger volume trends, nearly 4% yield, and buybacks feeding into EPS. Bears say shares are already at a consumer staples multiple, so there’s little room for error. Developed-market demand remains weak, FX has weighed on turnover, and the McCormick deal adds more factors to watch. Investors are eyeing July 28 results as the next test for a possible turnaround in this defensive FTSE 100 name, or just another short-term bump.
