Kornitzer Capital Management Inc. KS Sells 57,620 Shares of Nestle SA (OTCMKTS:NSRGY)

Kornitzer Capital Management Inc. KS reduced its holdings in shares of Nestle SA (OTCMKTS:NSRGY - Free Report) by 96.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,330 shares of the company's stock after selling 57,620 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Nestle were worth $235,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Core Alternative Capital purchased a new stake in shares of Nestle in the first quarter worth $29,000. First Horizon Advisors Inc. grew its position in 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 during the last quarter. Altrius Capital Management Inc increased its stake in Nestle by 3.5% during the 1st quarter. Altrius Capital Management Inc now owns 81,440 shares of the company's stock valued at $8,239,000 after purchasing an additional 2,753 shares in the last quarter. Sawyer & Company Inc purchased a new position in Nestle in the first quarter worth about $132,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Nestle during the first quarter valued at approximately $95,000. Institutional investors own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NSRGY shares. Morgan Stanley cut Nestle from an "equal weight" rating to an "underweight" rating and set a $91.00 price objective on the stock. in a research report on Friday, April 4th. BNP Paribas downgraded shares of Nestle from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada cut shares of Nestle from an "outperform" rating to a "sector perform" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $91.00.

Nestle Trading Down 0.7%

NSRGY stock traded down $0.71 during midday trading on Thursday, reaching $95.65. 281,426 shares of the company traded hands, compared to its average volume of 294,213. The business has a 50 day moving average of $102.45 and a 200-day moving average of $97.63. Nestle SA has a 52-week low of $80.11 and a 52-week 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.

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.