Nestle SA $NSRGY Shares Sold by Notis McConarty Edward

Key Points

• Notis McConarty Edward reduced its stake in Nestlé SA by 39.7% in the second quarter, holding 16,750 shares valued at approximately $1.664 million after selling 11,034 shares.
• Several institutional investors have recently modified their positions in Nestlé, with notable increases in stake from First Horizon Advisors Inc. and new interests from Core Alternative Capital and others.
• Nestlé shares opened at $93.41, showing a 1-year low of $80.11 and a high of $109.31, while the average analyst rating is currently a Hold with a consensus target price of $91.00.

Notis McConarty Edward trimmed its stake in Nestle SA (OTCMKTS:NSRGY - Free Report) by 39.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,750 shares of the company's stock after selling 11,034 shares during the quarter. Notis McConarty Edward's holdings in Nestle were worth $1,664,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Core Alternative Capital acquired a new position in Nestle in the first quarter valued at $29,000. First Horizon Advisors Inc. increased its stake in Nestle by 232.8% in the first 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. ORG Wealth Partners LLC acquired a new position in Nestle in the first quarter valued at $95,000. Sawyer & Company Inc acquired a new position in Nestle in the first quarter valued at $132,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in Nestle in the first quarter valued at $223,000. 0.61% of the stock is currently owned by institutional investors and hedge funds.

Nestle Trading Up 0.4%

Shares of OTCMKTS:NSRGY opened at $93.41 on Thursday. Nestle SA has a 1 year low of $80.11 and a 1 year high of $109.31. The stock has a 50-day simple moving average of $91.33 and a 200-day simple moving average of $98.33.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NSRGY shares. Jefferies Financial Group upgraded Nestle from an "underperform" rating to a "hold" rating in a research note on Friday, August 1st. Morgan Stanley reiterated an "underweight" rating on shares of Nestle in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.

Want to see what other hedge funds are holding NSRGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nestle SA (OTCMKTS:NSRGY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.