Nestle (NSRGY) Raised to “Hold” at Zacks Investment Research
Nestle (OTCMKTS:NSRGY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Nestle is the world’s #1 food company and the world leader in coffee (Nescafe), mineral water (Perrier), and ophthalmology products. Among its more than 8,500 products are Alpo dog food, Baby Ruth and Butterfinger candy bars, Carnation evaporated and condensed milk, Coffee-Mate coffee creamer, Kix breakfast cereals, Nestle Quik chocolate drink mix, Stouffer’s frozen dinners, and Toll House morsels. “
Shares of Nestle (OTCMKTS:NSRGY) opened at $86.17 on Thursday. Nestle has a 1-year low of $66.08 and a 1-year high of $89.40. The company has a current ratio of 0.79, a quick ratio of 0.53 and a debt-to-equity ratio of 0.18.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hikari Tsushin Inc. purchased a new position in Nestle during the third quarter worth about $539,000. Stonebridge Capital Advisors LLC purchased a new position in Nestle during the third quarter worth about $224,000. Sterling Capital Management LLC raised its holdings in Nestle by 1.2% during the third quarter. Sterling Capital Management LLC now owns 84,802 shares of the company’s stock worth $7,108,000 after purchasing an additional 980 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in Nestle by 79.9% during the third quarter. Griffin Asset Management Inc. now owns 29,286 shares of the company’s stock worth $2,460,000 after purchasing an additional 13,009 shares in the last quarter. Finally, Madison Investment Holdings Inc. raised its holdings in Nestle by 28.9% during the third quarter. Madison Investment Holdings Inc. now owns 370,912 shares of the company’s stock worth $31,160,000 after purchasing an additional 83,054 shares in the last quarter. 1.30% of the stock is owned by hedge funds and other institutional investors.
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Nestle Company Profile
Nestle SA is a nutrition, health and wellness company. The Company’s segments are Zone Europe, Middle East and North Africa (EMENA); Zone Americas (AMS); Zone Asia, Oceania and sub-Saharan Africa (AOA); Nestle Waters; Nestle Nutrition, and Other Businesses. The Company operates in the United States, Greater China Region, Switzerland and Rest of the World.
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