Sit Investment Associates Inc. Has $2.10 Million Stake in Nestle SA $NSRGY

Key Points

• Sit Investment Associates Inc. has reduced its stake in Nestle SA by 22.8%, now holding 20,710 shares valued at $2,095,000 after selling 6,100 shares.
• Other hedge funds such as Accent Capital Management and PNC Financial Services have altered their positions in Nestle, with PNC increasing its stake by 16.9% to 4,001 shares.
• Analysts have upgraded Nestle from an "underperform" to a "hold" rating, with an average price target set at $91.00.

Sit Investment Associates Inc. lessened its stake in shares of Nestle SA (OTCMKTS:NSRGY - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,710 shares of the company's stock after selling 6,100 shares during the period. Sit Investment Associates Inc.'s holdings in Nestle were worth $2,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Core Alternative Capital purchased a new stake in Nestle in the 1st quarter valued at $29,000. Ameriflex Group Inc. acquired a new stake in shares of Nestle during the fourth quarter valued at $26,000. First Horizon Advisors Inc. grew its position in shares of 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 period. ORG Wealth Partners LLC purchased a new stake in Nestle in the first quarter valued at approximately $95,000. Finally, Sawyer & Company Inc acquired a new position in shares of Nestle in the 1st quarter valued at about $132,000. Hedge funds and other institutional investors own 0.61% of the company's stock.

Analysts Set New Price Targets

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, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $91.00.

Nestle Stock Down 1.0%

Shares of NSRGY stock traded down $0.90 during trading on Thursday, hitting $93.68. 86,397 shares of the company were exchanged, compared to its average volume of 677,152. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.51 and a current ratio of 0.82. Nestle SA has a twelve month low of $80.11 and a twelve month high of $109.31. The business's 50-day simple moving average is $95.37 and its 200 day simple moving average is $99.09.

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.