I have been underwater by my ENSEFUL (LSE: Ulvr) Shares since I bought them in 2023 and 2024. Last night I sat on a modest 12% win and wondered if I would find more excitement somewhere else.

When I discovered that the Unilever share course had dropped 6.6% this morning, I was even less impressed. I have no cash in my trading account. Is dumping unilever the best way to raise it?

At the control, today’s full -year results were not as bad as I feared. The FTSE 100 Consumer goods giant reported an increase of 12.6% in annual profit to EUR 11.2 billion, plus EUR 1.5 billion Share repurchases program. What is the problem?

Do I waste my time with this FTSE 100 layer?

Underlying sales growth came at 4%, only shy for the 4.1% expected of analysts. Not exactly a disaster, but when a company that Unilever misses modest expectations, investors tend to turn.

The Board also warned of one “subdued” The first half of the year before things (hopefully) is picked up, driven by price increases when higher raw material costs filter through 2025.

Unilever has long been a defensive warehouse. It owns some of the world’s largest consumer brands found in millions of home globally, which provides a steady income current even in uncertain economic times.

Checking performance I see that the Unilever share course has actually risen 19% over the past year. And that’s after today’s dip. So maybe I’m the one who turns for no reason. However, it is up only 2% for five years. Performance has been Surprisingly fleeting for a supposedly defensive stock.

Unilever took his eye from the ball during that time. It got too big, too spreading. CEO Hein Schumacher has restored focus but I would not call him transformative.

I also worry about the group’s long -term sales track. Even during a good year, revenue growth is modest.

Growth prospects look modest

The management is indicative of growth of between 3% and 5% in 2025. It is in line with its historical performance but hardly inspiring. Rivals like Crawl in and Procter & Gamble has grown faster lately.

Then there is Rängen from its ice cream division, home for brands that Ben & Jerry’s and Magnum. While this movement can unlock the value in the long term, it also adds an element of uncertainty. It is another distraction for the management.

Unilever is still a high quality company with strong brands and a defensive edge. The dividend of 3.3% is decent, but hardly spectacular. Today’s price-to-profit ratio of just over 21 does not scream exactly.

The 21 analysts that offer one year’s share courses for Unilever have produced a median target of just over 5,032p. If correct, there is an increase of about 13% from today. These forecasts would have been produced before today’s dip. They were even lower before.

At the moment I hold. I don’t want to crystallize a sharp loss in one day. Unilever is likely to recover when finds show up. But if an irresistible purchase option shows up in the coming weeks and I still do not have the cash, Unilever is top on my sales list.