Corient IA LLC Buys New Stake in Nestle SA $NSRGY

Key Points

• Corient IA LLC acquired 5,000 shares of Nestle SA, valued at approximately $505,000, marking a new position during the first quarter according to their SEC filing.
• Jefferies Financial Group upgraded Nestle's rating from "underperform" to "hold", while the stock has received a mix of ratings including one strong buy, one sell, and five holds.
• The current stock price for Nestle is $89.84, with a twelve-month range between $80.11 and $109.31, indicating fluctuations in its market performance.

Corient IA LLC acquired a new position in Nestle SA (OTCMKTS:NSRGY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,000 shares of the company's stock, valued at approximately $505,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSRGY. GAMMA Investing LLC boosted its stake in Nestle by 23,819.2% in the 1st quarter. GAMMA Investing LLC now owns 417,630 shares of the company's stock worth $42,252,000 after purchasing an additional 415,884 shares during the period. Douglas Lane & Associates LLC lifted its position in Nestle by 11.4% in the 1st quarter. Douglas Lane & Associates LLC now owns 983,326 shares of the company's stock worth $99,294,000 after buying an additional 100,767 shares in the last quarter. Azimuth Capital Investment Management LLC lifted its position in Nestle by 79.7% in the 1st quarter. Azimuth Capital Investment Management LLC now owns 47,430 shares of the company's stock worth $4,789,000 after buying an additional 21,036 shares in the last quarter. Elefante Mark B purchased a new stake in Nestle in the 4th quarter worth approximately $1,527,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Nestle in the 4th quarter worth approximately $822,000. Institutional investors and hedge funds own 0.61% of the company's stock.

Nestle Price Performance

Shares of Nestle stock traded down $0.97 during midday trading on Thursday, reaching $93.61. 229,144 shares of the company's stock traded hands, compared to its average volume of 678,107. The company's 50 day simple moving average is $95.37 and its 200 day simple moving average is $99.09. The company has a quick ratio of 0.51, a current ratio of 0.82 and a debt-to-equity ratio of 1.41. Nestle SA has a 52 week low of $80.11 and a 52 week high of $109.31.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upgraded shares of Nestle from an "underperform" rating to a "hold" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $91.00.

About Nestle

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.