Sit Investment Associates Inc. Has $2.10 Million Position 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. trimmed its position in Nestle SA (OTCMKTS:NSRGY - Free Report) by 22.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in shares of Nestle in the fourth quarter valued at $26,000. Core Alternative Capital bought a new position in shares of Nestle in the first quarter valued at $29,000. First Horizon Advisors Inc. increased its holdings 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 buying an additional 312 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Nestle in the first quarter valued at $95,000. Finally, Sawyer & Company Inc bought a new position in shares of Nestle in the first quarter valued at $132,000. 0.61% of the stock is currently owned by institutional investors and hedge funds.

Nestle Price Performance

OTCMKTS:NSRGY traded up $3.86 during trading hours on Wednesday, reaching $94.77. The company's stock had a trading volume of 1,143,980 shares, compared to its average volume of 679,821. Nestle SA has a one year low of $80.11 and a one year high of $109.31. The business's 50-day moving average is $95.56 and its 200-day moving average is $99.12. The company has a current ratio of 0.82, a quick ratio of 0.51 and a debt-to-equity ratio of 1.41.

Wall Street Analyst Weigh In

Separately, 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, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nestle presently has a consensus rating of "Hold" and a consensus price target 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.