Cary Street Partners Asset Management LLC bought a new stake in Nestlé S.A. (OTCMKTS:NSRGY – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,005 shares of the company’s stock, valued at approximately $602,000.
Several other institutional investors also recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in shares of Nestlé by 29.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,541 shares of the company’s stock worth $306,000 after purchasing an additional 573 shares during the period. Vestor Capital LLC purchased a new position in shares of Nestlé in the second quarter worth about $133,000. Fisher Asset Management LLC lifted its stake in shares of Nestlé by 2.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,510,542 shares of the company’s stock valued at $662,756,000 after buying an additional 106,245 shares in the last quarter. Rhumbline Advisers purchased a new position in Nestlé in the 2nd quarter valued at approximately $6,218,000. Finally, Sustainable Growth Advisers LP raised its holdings in Nestlé by 9.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 46,527 shares of the company’s stock valued at $5,600,000 after acquiring an additional 4,115 shares during the period. 0.97% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on NSRGY shares. Societe Generale upgraded Nestlé from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. HSBC upgraded Nestlé from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Nestlé has an average rating of “Hold” and an average target price of $124.00.
Nestlé Stock Performance
Shares of OTCMKTS NSRGY traded up $0.48 during midday trading on Friday, hitting $111.35. The stock had a trading volume of 573,455 shares, compared to its average volume of 360,913. The business’s 50 day moving average is $112.75 and its 200-day moving average is $118.42. Nestlé S.A. has a 52 week low of $106.81 and a 52 week high of $131.64. The company has a current ratio of 0.83, a quick ratio of 0.46 and a debt-to-equity ratio of 1.24.
Nestlé Company Profile
Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone North America; Zone Europe; Zone Asia, Oceania, and Africa; Zone Latin America; Zone Greater China; Nespresso; and Nestlé Health Science segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, Vittel, Buxton, Erikli, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Smarties, Aero, Nestle L'atelier, Milkybar, Baci Perugina, Quality Street, and Fitness brands.
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