Elefante Mark B Sells 4,625 Shares of Nestle SA (OTCMKTS:NSRGY)

Key Points

• Elefante Mark B sold 4,625 shares of Nestle SA, reducing its holdings by 24.7%, which now represents 1.1% of its investment portfolio valued at approximately $1.4 million.
• Analysts have downgraded Nestle, with BNP Paribas changing its rating from "strong-buy" to "hold" and Morgan Stanley adjusting its rating to "underweight" with a target price of $91.00.
• Shares of Nestle traded down by 1.1% to $92.33, while the company has experienced a one-year price range between $80.11 and $109.31.

Elefante Mark B lowered its holdings in shares of Nestle SA (OTCMKTS:NSRGY - Free Report) by 24.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,065 shares of the company's stock after selling 4,625 shares during the period. Nestle comprises about 1.1% of Elefante Mark B's investment portfolio, making the stock its 29th biggest position. Elefante Mark B's holdings in Nestle were worth $1,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriflex Group Inc. bought a new stake in shares of Nestle during the 4th quarter valued at about $26,000. Core Alternative Capital bought a new stake in shares of Nestle during the 1st quarter valued at about $29,000. First Horizon Advisors Inc. boosted its stake in shares of Nestle by 232.8% during the 1st quarter. First Horizon Advisors Inc. now owns 446 shares of the company's stock valued at $45,000 after purchasing an additional 312 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Nestle during the 4th quarter valued at about $49,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Nestle during the 1st quarter valued at about $95,000. Institutional investors own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

NSRGY has been the subject of several recent analyst reports. Morgan Stanley cut shares of Nestle from an "equal weight" rating to an "underweight" rating and set a $91.00 target price for the company. in a report on Friday, April 4th. BNP Paribas lowered shares of Nestle from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $91.00.

Nestle Stock Performance

Shares of NSRGY traded down $1.94 during midday trading on Monday, hitting $90.39. The stock had a trading volume of 709,071 shares, compared to its average volume of 681,380. Nestle SA has a 1 year low of $80.11 and a 1 year high of $109.31. The company has a current ratio of 0.82, a quick ratio of 0.51 and a debt-to-equity ratio of 1.41. The stock's 50 day moving average is $101.44 and its 200 day moving average is $98.52.

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