Nestle SA $NSRGY Shares Sold by Elefante Mark B

Key Points

• Elefante Mark B sold 4,945 shares of Nestle SA, reducing its holdings by 35.2% in the second quarter, now owning 9,120 shares worth approximately $906,000.
• Other hedge funds have increased their positions in Nestle, with Douglass Winthrop Advisors LLC and Azimuth Capital Investment Management LLC significantly boosting their holdings by 2.4% and 79.7%, respectively, in the first quarter.
• Several brokerages have mixed ratings on Nestle, with a consensus rating of "Hold" and a price target of $91.00, after reports from Morgan Stanley and Jefferies Financial Group.

Elefante Mark B reduced its holdings in Nestle SA (OTCMKTS:NSRGY - Free Report) by 35.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,120 shares of the company's stock after selling 4,945 shares during the quarter. Elefante Mark B's holdings in Nestle were worth $906,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Douglass Winthrop Advisors LLC lifted its holdings in shares of Nestle by 2.4% in the 1st 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 during the period. Altrius Capital Management Inc lifted its holdings in shares of Nestle by 3.5% in the 1st quarter. Altrius Capital Management Inc now owns 81,440 shares of the company's stock valued at $8,239,000 after buying an additional 2,753 shares during the period. Ancora Advisors LLC lifted its holdings in shares of Nestle by 0.9% in the 1st 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 during the period. Rhumbline Advisers raised its holdings in Nestle by 6.7% during the first quarter. Rhumbline Advisers now owns 63,064 shares of the company's stock worth $6,380,000 after purchasing an additional 3,964 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC raised its holdings in Nestle by 79.7% during the first quarter. Azimuth Capital Investment Management LLC now owns 47,430 shares of the company's stock worth $4,789,000 after purchasing an additional 21,036 shares during the last quarter. 0.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NSRGY. Morgan Stanley reaffirmed an "underweight" rating on shares of Nestle in a report on Monday, October 6th. Jefferies Financial Group raised Nestle from an "underperform" rating to a "hold" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $91.00.

Nestle Price Performance

OTCMKTS NSRGY opened at $93.54 on Tuesday. Nestle SA has a fifty-two week low of $80.11 and a fifty-two week high of $109.31. The business has a fifty day moving average of $91.69 and a 200-day moving average of $98.12. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.41.

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.

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