Nestle SA $NSRGY Shares Sold by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates LLC reduced its holdings in Nestle SA by 10.5% during the second quarter, selling 103,167 shares and now owns 880,159 shares valued at $87.17 million.
• Several other institutional investors, including Rhumbline Advisers and Azimuth Capital Investment Management, have recently adjusted their stakes in Nestle, indicating ongoing interest from the investment community.
• Analysts have given Nestle an average rating of "Hold" with a price target of $91.00, following an upgrade from Jefferies Financial Group.

Douglas Lane & Associates LLC lowered its position in shares of Nestle SA (OTCMKTS:NSRGY - Free Report) by 10.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 880,159 shares of the company's stock after selling 103,167 shares during the quarter. Nestle comprises 1.3% of Douglas Lane & Associates LLC's portfolio, making the stock its 19th largest position. Douglas Lane & Associates LLC's holdings in Nestle were worth $87,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers raised its stake in Nestle by 6.7% during the first quarter. Rhumbline Advisers now owns 63,064 shares of the company's stock valued at $6,380,000 after buying an additional 3,964 shares in the last quarter. Ancora Advisors LLC raised its stake in Nestle by 0.9% during the first quarter. Ancora Advisors LLC now owns 75,388 shares of the company's stock valued at $7,627,000 after buying an additional 703 shares in the last quarter. Douglass Winthrop Advisors LLC raised its stake 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 buying an additional 23,692 shares in the last quarter. Corient IA LLC acquired a new stake in Nestle during the first quarter valued at approximately $505,000. Finally, Azimuth Capital Investment Management LLC raised its stake 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 buying an additional 21,036 shares in the last quarter. Institutional investors and hedge funds own 0.61% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upgraded 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, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $91.00.

Nestle Stock Down 0.9%

Shares of Nestle stock opened at $91.56 on Friday. 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 business's 50 day simple moving average is $92.82 and its 200-day simple moving average is $99.51. Nestle SA has a twelve month low of $80.11 and a twelve month high of $109.31.

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.

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