Somerville Kurt F acquired a new position in shares of Nestle SA (OTCMKTS:NSRGY – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 20,171 shares of the company’s stock, valued at approximately $2,071,000.
Several other hedge funds also recently modified their holdings of NSRGY. Sterling Capital Management LLC raised its stake in shares of Nestle by 73.6% in the first quarter. Sterling Capital Management LLC now owns 349 shares of the company’s stock valued at $34,000 after acquiring an additional 148 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Nestle during the 4th quarter worth approximately $47,000. Sfam LLC bought a new stake in Nestle during the 4th quarter worth approximately $74,000. Cascades Capital Asset Management LLC acquired a new position in Nestle in the fourth quarter worth $101,000. Finally, Lummis Asset Management LP grew its holdings in shares of Nestle by 6.9% during the fourth quarter. Lummis Asset Management LP now owns 1,781 shares of the company’s stock worth $177,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 0.61% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on NSRGY. Jefferies Financial Group upgraded Nestle from a “hold” rating to a “buy” rating in a research note on Tuesday, July 21st. Morgan Stanley reiterated an “underweight” rating on shares of Nestle in a research report on Thursday, July 2nd. Erste Group Bank upgraded shares of Nestle from a “hold” rating to a “buy” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Nestle in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.
Nestle Stock Up 2.0%
OTCMKTS NSRGY opened at $99.21 on Thursday. Nestle SA has a 52 week low of $88.47 and a 52 week high of $109.59. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.79 and a quick ratio of 0.47. The stock has a fifty day moving average of $101.15 and a 200-day moving average of $100.71.
About Nestle
Nestlé SA is a Swiss multinational food and beverage company headquartered in Vevey, Switzerland. Founded in 1866 by Henri Nestlé, the company has grown into a global consumer goods firm and its American depositary receipts trade in the United States under the OTCMKTS ticker NSRGY. Nestlé operates across a broad range of food and beverage categories and is widely recognized for its portfolio of consumer-facing brands and products.
The company’s main business activities include the manufacture, marketing and distribution of products in categories such as coffee and other beverages, bottled water, dairy and infant nutrition, prepared meals and culinary products, confectionery, and pet care.
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