SlateStone Wealth LLC Lowers Holdings in Nestlé S.A. (OTCMKTS:NSRGY)

SlateStone Wealth LLC reduced its position in shares of Nestlé S.A. (OTCMKTS:NSRGY) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,753 shares of the company’s stock after selling 469 shares during the period. SlateStone Wealth LLC’s holdings in Nestlé were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Investment Group LTD. purchased a new position in shares of Nestlé during the fourth quarter worth $1,074,000. Spinnaker Trust raised its stake in shares of Nestlé by 5.1% in the third quarter. Spinnaker Trust now owns 68,362 shares of the company’s stock valued at $7,752,000 after acquiring an additional 3,329 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Nestlé by 0.8% in the fourth quarter. Pacer Advisors Inc. now owns 24,744 shares of the company’s stock valued at $2,861,000 after acquiring an additional 190 shares in the last quarter. Navellier & Associates Inc. acquired a new stake in shares of Nestlé in the third quarter valued at $656,000. Finally, Beach Investment Counsel Inc. PA raised its stake in shares of Nestlé by 15.2% in the fourth quarter. Beach Investment Counsel Inc. PA now owns 191,115 shares of the company’s stock valued at $22,099,000 after acquiring an additional 25,203 shares in the last quarter. 0.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NSRGY. Royal Bank of Canada upgraded Nestlé from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, February 27th. BNP Paribas cut Nestlé from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $153.00.

Nestlé Stock Performance

Shares of OTCMKTS NSRGY traded up $2.10 during midday trading on Tuesday, reaching $102.90. 807,442 shares of the company were exchanged, compared to its average volume of 741,147. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.51 and a current ratio of 0.83. Nestlé S.A. has a 1 year low of $100.64 and a 1 year high of $131.64. The stock has a fifty day simple moving average of $105.78 and a 200 day simple moving average of $110.26.

Nestlé 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, Nestlé Les Recettes de l'Atelier, Milkybar, Baci Perugina, Quality Street, and Fitness brands.