Nestle SA $NSRGY Shares Purchased by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital Investment Management LLC significantly increased its stake in Nestle SA by 79.7%, acquiring an additional 21,036 shares, bringing its total to 47,430 shares valued at approximately $4.79 million by the end of the most recent quarter.
• Institutional investors collectively own 0.61% of Nestle's stock, with several firms recently making changes to their positions, including notable acquisitions by Ameriflex Group Inc. and Core Alternative Capital.
• Jefferies Financial Group upgraded Nestle's rating from "underperform" to "hold", with the stock currently having a consensus price target of $91.00.

Azimuth Capital Investment Management LLC grew its position in shares of Nestle SA (OTCMKTS:NSRGY - Free Report) by 79.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,430 shares of the company's stock after purchasing an additional 21,036 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Nestle were worth $4,789,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NSRGY. Ameriflex Group Inc. purchased a new position in shares of Nestle during the fourth quarter worth about $26,000. Core Alternative Capital purchased a new position in shares of Nestle during the first quarter worth about $29,000. First Horizon Advisors Inc. grew its holdings in shares of Nestle by 232.8% during the first quarter. First Horizon Advisors Inc. now owns 446 shares of the company's stock worth $45,000 after purchasing an additional 312 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Nestle during the first quarter worth about $95,000. Finally, Sawyer & Company Inc purchased a new position in shares of Nestle during the first quarter worth about $132,000. Hedge funds and other institutional investors own 0.61% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised Nestle from an "underperform" rating to a "hold" rating in a report on Friday, August 1st. One research 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. According to MarketBeat, Nestle currently has an average rating of "Hold" and a consensus price target of $91.00.

Nestle Stock Down 0.8%

NSRGY traded down $0.73 during trading on Thursday, reaching $93.85. The company's stock had a trading volume of 107,822 shares, compared to its average volume of 677,265. Nestle SA has a 52-week low of $80.11 and a 52-week high of $109.31. The company's fifty day moving average price is $95.37 and its 200-day moving average price is $99.09. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.82 and a quick ratio of 0.51.

Nestle 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.