Bahl & Gaynor Inc. Sells 3,266 Shares of Nestle SA $NSRGY

Key Points

• Bahl & Gaynor Inc. has reduced its holdings in Nestle SA by 5.6%, selling 3,266 shares, resulting in a total position of 55,269 shares valued at approximately $5.58 million.
• Several institutional investors, including Ameriflex Group and First Horizon Advisors, have recently made moves to acquire or increase their stakes in Nestle, highlighting ongoing interest in the company's stock.
• Analysts from Jefferies Financial Group have upgraded Nestle's stock rating from "underperform" to "hold", and the average analyst target price for the stock is currently set at $91.00.

Bahl & Gaynor Inc. lessened its holdings in Nestle SA (OTCMKTS:NSRGY - Free Report) by 5.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,269 shares of the company's stock after selling 3,266 shares during the period. Bahl & Gaynor Inc.'s holdings in Nestle were worth $5,581,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Nestle by 23,819.2% during the first quarter. GAMMA Investing LLC now owns 417,630 shares of the company's stock valued at $42,252,000 after purchasing an additional 415,884 shares in the last quarter. Douglas Lane & Associates LLC raised its position in Nestle by 11.4% during the first quarter. Douglas Lane & Associates LLC now owns 983,326 shares of the company's stock valued at $99,294,000 after purchasing an additional 100,767 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in Nestle by 2.4% during the first quarter. Douglass Winthrop Advisors LLC now owns 1,011,125 shares of the company's stock valued at $102,296,000 after purchasing an additional 23,692 shares in the last quarter. Azimuth Capital Investment Management LLC raised its position in Nestle by 79.7% during the first quarter. Azimuth Capital Investment Management LLC now owns 47,430 shares of the company's stock valued at $4,789,000 after purchasing an additional 21,036 shares in the last quarter. Finally, Elefante Mark B purchased a new stake in Nestle during the fourth quarter valued at about $1,527,000. Hedge funds and other institutional investors own 0.61% of the company's stock.

Nestle Price Performance

Shares of OTCMKTS NSRGY traded up $1.03 during trading hours on Thursday, hitting $93.28. The company's stock had a trading volume of 267,955 shares, compared to its average volume of 676,803. 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 12 month low of $80.11 and a 12 month high of $109.31. The business has a 50-day simple moving average of $94.43 and a 200-day simple moving average of $99.36.

Analyst Ratings Changes

Separately, Jefferies Financial Group upgraded Nestle from an "underperform" rating to a "hold" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target 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.