Nestle SA $NSRGY Shares Purchased by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in Nestle SA by 6.7%, owning 63,064 shares valued at approximately $6.38 million after purchasing an additional 3,964 shares in Q1.
• Several institutional investors also adjusted their holdings, with GAMMA Investing LLC making a significant acquisition of 417,630 shares, increasing its position by 23,819.2%.
• Analysts have upgraded Nestle's rating to "hold" and established a consensus price target of $91.00, while the stock currently trades around $91.56.

Rhumbline Advisers boosted its stake in Nestle SA (OTCMKTS:NSRGY - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,064 shares of the company's stock after buying an additional 3,964 shares during the period. Rhumbline Advisers' holdings in Nestle were worth $6,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NSRGY. Studio Investment Management LLC raised its holdings in Nestle by 2.9% in the 4th quarter. Studio Investment Management LLC now owns 3,990 shares of the company's stock valued at $326,000 after buying an additional 112 shares during the period. North Star Asset Management Inc. increased its stake in Nestle by 4.4% during the fourth quarter. North Star Asset Management Inc. now owns 5,429 shares of the company's stock worth $444,000 after purchasing an additional 229 shares during the period. Ameriflex Group Inc. purchased a new stake in Nestle during the fourth quarter worth about $26,000. GAMMA Investing LLC increased its stake in Nestle by 23,819.2% during the first quarter. GAMMA Investing LLC now owns 417,630 shares of the company's stock worth $42,252,000 after purchasing an additional 415,884 shares during the period. Finally, Douglas Lane & Associates LLC increased its stake in Nestle by 11.4% during the first quarter. Douglas Lane & Associates LLC now owns 983,326 shares of the company's stock worth $99,294,000 after purchasing an additional 100,767 shares during the period. 0.61% of the stock is currently owned by hedge funds and other institutional investors.

Nestle Stock Performance

Shares of NSRGY stock traded down $0.92 during trading hours on Monday, reaching $90.64. 606,136 shares of the stock were exchanged, compared to its average volume of 446,909. The business's fifty day moving average is $92.67 and its two-hundred day moving average is $99.49. 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.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upgraded shares of Nestle from an "underperform" rating to a "hold" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $91.00.

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.